Singapore, Jul 27, 2009: Research and Markets has announced the addition of the "Malaysia Pharmaceuticals and Healthcare Report Q3 2009" report to their offering.

 

In BMI's Business Environment Ranking matrix for Q309, Malaysia remains ranked eighth out of the 15 regional markets surveyed in the Asia Pacific region, sandwiched between the more developed market of Taiwan and the considerably more populous India. The key attractions of the Malaysian pharmaceutical market, according to the research company, are the government's encouragement of the biotechnology sector and the forecast steady annual growth in the country's pharmaceutical market.

 

Between 2008 and 2013, the Malaysian drug market is expected to grow from $1.22 billion in 2008 to over $2 billion at consumer prices in 2013, posting a compound annual growth rate (CAGR) of 10.47 percent in US dollar terms. Key drivers of growth are said to be medical tourism, the growing reputation of Malaysian pharmaceuticals, the encouragement of the generics and specialist segments and the rising demand for and supply of halal medicines. On the other hand, per capita pharmaceutical consumption is said to be quite low, especially due to high out-of-pocket payment levels, which make the market vulnerable to the current economic crisis.

 

According to the report, other outstanding issues hampering the faster development of more expensive medicines segments in Malaysia include a number of intellectual property (IP) regime deficiencies. In the 2009 versions of its Special 301 submission, the Pharmaceutical Research and Manufacturers of America (PhRMA) once again listed Malaysia as one of the 'Watch List' countries. The association is mainly critical of the following facts: the government runs a limited list of therapeutic areas for which bioequivalence data are required; the lack of an adequate patent linkage system; and the deficient protection and enforcement of data exclusivity legislation.

 

Therefore, the report forecasts that the patented drugs market will develop at a slower pace than the generics segment, which will additionally benefit from government encouragement and the cost-containment pressures brought to the fore by the current economic difficulties.

 

Business Monitor International's Malaysia Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Malaysia's pharmaceuticals and healthcare industry.