Myanmar’s pharma industry is grossly under developed only few pharmaceutical manufacturing units are there in the country, the health care industry is fastest growing and high potential sectors that needs reform extension & improvement.
During research completed in March, 47% of people in two cities – Yangon and Bago – said their highest preference for improved healthcare was improved quality. Only 29% said their most important factor in choosing healthcare was cost. Western brands that can determine how to cost-effectively sell into Myanmar stand to benefit from local consumers who are already sensitive to considerations between cost and quality.
Myanmar’s pharma industry is grossly under developed only few pharmaceutical manufacturing units are there in the country, the health care industry is fastest growing and high potential sectors that needs reform extension & improvement , the Industry is completely dependent on imports .Current mrkt sales USD mn,estimated to cross USD 1 bn by 2020.
India is one of the largest pharmaceutical exports in the world . India Exported to the tune of 11.6 Billion US$ in the year 2016 and is emerging as one of the most affordable pharmaceutical producers in the world and it is considered as one of the best quality.
The government’s additional spending on medical goods and services is an important step forward that holds the potential to both improve healthcare in Myanmar, while at the same time creating opportunities for multinationals in healthcare consumer products, pharmaceuticals and medical devices. The government’s expansion of a national formulary, a group of medicines recommend by the WHO for public hospitals in Myanmar to have available to the public, would increase government spending on pharmaceuticals from its current level of $0.20/person/year to almost $2.00/person/year within two years.