Malaysia Pharmaceuticals & Healthcare Report Q3 2010" now available at Fast Market Research

2010-07-11 06:12:44 - New Healthcare market report from Business Monitor International: "Malaysia Pharmaceuticals & Healthcare Report Q3 2010"
Leading Malayisan drugmaker Pharmaniaga expects the outlook for the Malaysian pharmaceutical industry to improve in 2010. This view is in accordance with BMI's Pharmaceutical Expenditure Forecast Model, which shows that medicine sales in the South East Asian country increased by just 3.4% in 2009 - well below the 2004-2008 compound annual growth (CAGR) of 6.9%. However, driven by an expanding
economy and ageing population, we expect the market to expand by 9.46% in 2010 and 7.96% between 2009 and 2014. Growth will be led by the OTC and generics markets, which are both growing rapidly from relatively low bases.

Indeed, generics continue to be poorly promoted in Malaysia, with branded drugs generally viewed as superior in quality. The generics market was accordingly worth just MYR1.11bn (US$316mn) in 2009. The relatively small size of the market in Malaysia gives it a greater potential for growth in the coming years, however. After the OTC market, BMI believes the generics market will post the strongest growth over the next nine years. BMI's forecast shows a local currency CAGR of 10.34% over 2009-2014, increasing to 10.87% over 2009-2019.

Meanwhile, economic indicators for the country are beginning to look more positive, which should help sustain growth in the pharmaceuticals sector. BMI has bumped up our 2010 real GDP forecast to 4.9% (from 4.1%) in view of a stronger export recovery, although fears of a Chinese-led slowdown have forced us to downgrade our economic outlook for 2011, with growth expected to come in at only 3.5% (revising downwards from 4.7%). Malaysia's Q110 real GDP growth came in at a larger-than-expected 10.1% year-on-year (y-o-y), accelerating from the 4.5% expansion recorded in Q409. We remain concerned about the looming risk of a severe double-dip slowdown in China, which would affect for our forecasts for the pharmaceutical sector.

A further drawback to the industry's prospects came as Malaysia and the US appeared to all but abandon bilateral free trade agreement (FTA) negotiations. However, the possibility of Malaysia joining an alternative, multilateral trans-Pacific trade deal remains open. A trade deal would give impetus to Malaysia's growing pharmaceutical trade activity. The total value of pharmaceutical exports should grow to US147.7mn in 2010, reaching US184.9mn by 2014. However, growth in the value of imports will continue to outpace exports over the forecast period, as imports grow at a CAGR of 12%. Imports will be worth US$1.02bn in 2010, taking Malaysia's pharmaceutical deficit to US877mn.

In company terms, Pharmaniaga has had a turbulent start to 2010. Following the February release of financial results that BMI described as 'disappointing', the company's manufacturing licence has been revoked by the Pharmaceutical Services Division of the Ministry of Health as of March 2010. The firm's majority shareholder, UEM Group Berhad, has subsequently failed to deny claims that it plans to divest its interest in Pharmaniaga. Despite these setbacks, the outlook for Pharmaniaga is positive. According to Edge Malaysia, sources suggest the pharmaceutical company has retained its lucrative 10-year concession for the provision of generic drugs to the Malaysian government. This deal will provide a steady revenue stream and allow Pharmaniaga to increasingly explore growth strategies such as ramping up exports to neighbouring countries and producing higher-value medicines.

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Partial Table of Contents:

Executive Summary
SWOT Analysis
- Malaysia Pharmaceuticals And Healthcare Industry SWOT
- Malaysia Political SWOT
- Malaysia Economic SWOT
- Malaysia Business Environment SWOT
Pharmaceutical Business Environment Ratings
- Table: Asia Pacific - Pharmaceuticals & Healthcare Business Environment Ratings For Q310
- Limits Of Potential Returns
- Risks To Realisation Of Returns
Malaysia - Market Summary
Regulatory Regime
- Pharmaceutical And Medical Advertising
- Recent Regulatory Developments
- Intellectual Property Regime
- Counterfeit Pharmaceuticals
- Compulsory Licensing
- Free Trade Agreements
- Pricing And Reimbursement
Industry Trends And Developments
- Epidemiology
- Table: 10 Leading Causes Of Death In Ministry of Health Hospitals, 2005
- Non-Communicable Disease
- Communicable Disease
- Healthcare Sector
- Healthcare Sector Funding
- Medical Tourism
- Biotechnology And Research
- Table: Key Points Of The Malaysian National Biotechnology Policy
- Table: The Benefits Of Conducting Biotechnology Research In Malaysia
- Recent Biotechnology Developments
- Clinical Trials
- Recent Developments in the Clinical Trials Industry
- Medical Devices
- Table: Malaysia - Clinical Diagnostics Market, 2006 (US$mn)
- Leading Medical Device Players
- Recent Developments In The Medical Devices Industry
Industry Forecast Scenario
- Overall Market Forecast
- Key Growth Factors - Industry
- Key Growth Factors - Macroeconomic
- Table: Malaysia - Economic Activity
- Prescription Drug Market Forecast
- Patented Product Market Forecast
- Generic Drug Market Forecast
- OTC Medicine Market Forecast
- Medical Device Market Forecast
- Pharmaceutical Trade Forecast
- Other Healthcare Data Forecasts
- Key Risks To BMI's Forecast Scenario
Competitive Landscape
- Domestic Pharmaceutical Industry
- Foreign Pharmaceutical Industry
- Pharmaceutical Demand
- Recent Company Activities
- Halal Medicine
- Traditional Medicine
Company Profiles
- Leading Indigenous Manufacturers
- Pharmaniaga
- Prime Pharmaceutical
- Bumimedic
- Hovid
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