Asia Pharma Expo completes 12 highly successful years as catalyst for the growth of the South Asian pharmaceutical industry
492 companies from 27 countries and 8354 were visitors participated during the show
Asia Pharma Expo 2015 concluded at the Bangabandhu International Conference Centre in Dhaka, Bangladesh during 8 -10 January, 2015. As South Asia’s largest pharmaceutical manufacturing expo, the total number of visitors expanded notably compared to that of the previous year. Asia Pharma Expo 2015 had a grand beginning witnessed by top management persons of major pharma manufacturing companies of Bangladesh. The exhibition was inaugurated by Tofail Ahmed, MP, Minister of Commerce, Government of the Peoples’ Republic of Bangladesh.
The minister appreciated the efforts of Bangaladesh Aushad Shilpa Samity and the joint organisers; GPE EXPO for their efforts towards the establishment of a pharma manufacturing hub in Bangaladesh capitalising on the vast stride made by Indian pharma industry in meeting the quality drug requirements worldwide at affordable prices.
Asia Pharma Expo 2015, a vital business molecule has been contributing to the growth and innovation of the Asian pharma markets in general and Bangladesh pharma industry in specific for many years, generating new business opportunities for exhibitors and visitors. Bangladesh is one of the fastest growing economies of the world and pharma segment has always been top priority for the nation. There are more than 300 pharma national and multinational units operating in the country producing 97 per cent of the local demands for drugs.
With an annual double digit growth rate, the pharma industry in Bangladesh is heading towards complete self sufficiency in meeting local demand. There is a surety of steady growth in investments and sustained future development in the pharma industry in Bangladesh. In Bangladesh, the pharma sector is one of the fastest growing sectors. In 2008 the total size of the pharma market in Bangladesh was estimated to be $700 million and is growing at a steady rate. The pharma sector is the second highest contributor to the national exchequer and the largest white collar labour intensive employment sector of the country. There are 245 registered pharma manufacturing companies in Bangladesh.
Today, the Bangladesh pharma industry successfully exports APIs and a wide range of products covering all major therapeutic classes and dosage forms to more 94 countries. Beside regular forms like tablets, capsules and syrups, Bangladesh is also exporting high-tech specialised products like HFA inhalers, CFC inhalers, suppositories, nasal sprays, injectables and IV infusions. These products have been well accepted by medical practitioners, chemists, patients and regulatory bodies of all importing nations. Also the packaging and the presentation of the products of Bangladesh are comparable to any international standards.
The future of pharma exports from Bangladesh is bright. After the inclusion of the Doha declaration in WTO / TRIPS agreement, each and every country belonging to the LDC category has the option not to opt for pharma product patent until 2016, which means they can now legally reverse engineer patented products and sell in their markets as well as can export to other LDCs. This creates a huge export opportunities for Bangladesh, because, among all the 50 LDCs, Bangladesh is the only country which has a strong base for pharma manufacturing. Besides direct export operations, there is also a huge opportunity for the Bangladeshi companies to go for contract manufacturing and compulsory licensing.
Also the South Asia region offers several advantages. It is one of the fastest growing pharma economies of the world and also the rapid growth rate to meet the demand and supply statistics of India, Bangladesh, Nepal, Pakistan, Bhutan, Myanmar, Thailand, and Indonesia has attracted the global attention. Over-all growth rate of the South Asian pharma industry is 14 per cent with more than 24,000 formulators. With the highest exports of formulation, Bangladesh offers all the advantages for its strategic location in the South Asian pharma region.
Asia Pharma Expo 2015 was beneficial to all participants from local business associates to international machinery manufacturers and even API / bulk active manufacturers got benefits from participation in the exhibition. The confidence grows and reflects every year in the Asia Pharma Expo series. There were 492 exhibiting companies from 27 countries along with 8,700 sq. mt. of floor space and 8,354 trade professionals visited the show. Such active participation makes this exhibition a rewarding and result oriented experience.
The exhibitor’s profile is also impressive and includes complete spectrum comprising pharma processing and packaging machinery and materials, API, bulk drugs, formulations, additives, intermediates, analytical and biotech lab instruments / glassware / lab. reagents – chemicals, lab-consumables, environment control equipment and services, utility products and services, plant maintenance engineering, R&D, biotechnology, CROs, healthcare and surgical products and consumables, contractors – turnkey, trade associations / trade publications, formulations and contract manufacturing.
EP News Bureau – Mumbai