Bangladesh Pharma exports doubled over the past seven years, signaling rapid growth, global demand, and increased manufacturing capacity. Discover the key drivers, challenges, and future outlook of this thriving sector.
1. Introduction
Over the past decade, Bangladesh’s pharmaceutical sector has made remarkable strides, positioning itself as a key player in the global generics market. One of the most impressive milestones is the doubling of pharmaceutical exports in the last seven years, demonstrating the sector’s resilience, innovation, and global appeal.
With strong policy support, skilled manpower, WHO-GMP-compliant manufacturing facilities, and competitive pricing, Bangladesh’s pharma industry is now exporting to more than 150 countries, including high-regulation markets like the EU, Australia, and the Middle East.
2. A Snapshot of the Growth; Bangladesh Pharma Exports
According to recent data from the Export Promotion Bureau (EPB), pharmaceutical exports from Bangladesh surged from around $90 million in FY 2016-17 to over $200 million in FY 2023-24, registering more than 100% growth.
This impressive growth trajectory reflects not just increased global demand for affordable generic medicines, but also Bangladesh’s expanding manufacturing capabilities and regulatory compliance.
3. Key Drivers of Export Growth: Bangladesh Pharma Exports
A. Policy and Regulatory Support
The Bangladesh government’s National Drug Policy has played a critical role in nurturing the pharmaceutical industry. The ban on importing over 300 medicines produced locally helped domestic companies grow, while incentives for exporters—like tax holidays and easier access to foreign markets—boosted competitiveness.
B. TRIPS Waiver Advantage
Under the WTO’s Trade-Related Aspects of Intellectual Property Rights (TRIPS) waiver for Least Developed Countries (LDCs), Bangladesh can produce patented medicines without facing legal consequences until 2033. This has enabled Bangladeshi companies to manufacture generic versions of high-demand drugs at lower costs.
C. Investment in R&D and Quality Compliance
Major pharmaceutical companies like Square Pharmaceuticals, Beximco, Incepta, and Renata have heavily invested in research and development (R&D), Good Manufacturing Practice (GMP) compliance, and modern technologies.
Several of these companies are now accredited by US FDA, UK MHRA, and EU authorities, which opens the door for exports to regulated markets.
D. Skilled Workforce and Infrastructure
With a growing number of pharmacists, chemists, and pharmaceutical engineers graduating each year, the industry benefits from a steady supply of skilled professionals. Moreover, the API Industrial Park in Munshiganj is set to reduce dependency on imported raw materials and enhance supply chain efficiency.
4. Major Export Markets: Bangladesh Pharma Exports
Bangladesh’s pharmaceutical products are exported to over 150 countries, including:
- Asia: Myanmar, Sri Lanka, Philippines, Vietnam
- Africa: Kenya, Nigeria, Sudan, Ethiopia
- Europe: UK, Germany, Netherlands
- Middle East: UAE, Saudi Arabia, Yemen
- Oceania: Australia, Fiji
- Latin America & Caribbean: Peru, Guyana, Belize
These exports include tablets, capsules, syrups, injectables, IV fluids, and life-saving oncology and biotech products.
5. Top Exporting Companies: Bangladesh Pharma exports
Some of the top pharma exporters from Bangladesh include:
- Square Pharmaceuticals Ltd.
- Beximco Pharmaceuticals Ltd.
- Incepta Pharmaceuticals Ltd.
- Renata Limited
- Eskayef Pharmaceuticals Ltd. (SK+F)
- ACI Limited
- Aristopharma Ltd.
These firms are not only expanding production but also obtaining certifications that enable them to enter strictly regulated markets.
6. Challenges Ahead
While the export growth is promising, several challenges remain:
- Raw Material Dependency: Over 90% of Active Pharmaceutical Ingredients (APIs) are still imported, mainly from China and India.
- Intellectual Property Compliance: After 2033, Bangladesh will have to comply with TRIPS regulations, which could impact low-cost generic production.
- Regulatory Hurdles: Gaining approvals from stringent drug regulatory authorities takes time and significant investment.
- Global Competition: Countries like India, Vietnam, and Egypt are strong competitors in the generic medicine market.
7. Future Outlook
Despite these challenges, the future of Bangladesh’s pharmaceutical export sector looks promising.
- The API Industrial Park is expected to become operational soon, which will reduce costs, ensure quality control, and improve profit margins.
- Pharma Vision 2030 aims to make Bangladesh one of the top 20 global exporters in the sector.
- Expansion into biotech, biosimilars, and high-value formulations is already underway.
Industry insiders believe that if the current growth rate continues, pharma exports could reach $1 billion annually within the next 10 years.
8. Conclusion
Bangladesh’s journey from being a domestic medicine producer to a globally recognized pharmaceutical exporter is a success story rooted in policy vision, innovation, and resilience. With export earnings more than doubling in seven years, the industry is on a solid trajectory to become a cornerstone of the nation’s economy.
Continued investment, policy reform, and global integration will ensure that Bangladesh’s pharmaceutical sector not only maintains its momentum but thrives in the competitive global landscape.
