Malaysia Pharmaceuticals Market To Be Dominated By Generic Drugs Through 2028
Increasing awareness to
health and growing prevalence of chronic diseases are expected to drive the Malaysia
Pharmaceuticals Market during the forecast period 2024-2028.
According to TechSci Research
report, “Malaysia
Pharmaceuticals Market – By Region, Forecast
and Opportunities, 2018-2028”,
the Malaysia
pharmaceuticals market is anticipated to grow at a significant rate during the
forecast period, 2024-2028. The growing investment
by government organizations in the pharmaceuticals sector in Malaysia has
several significant benefits. It has resulted in the development of a more
robust and competitive local pharmaceutical industry. Investments in R&D,
manufacturing, and capacity building have helped to stimulate innovation,
promote domestic manufacturing, and create job opportunities in the
pharmaceutical sector. This has also contributed to the growth of the Malaysian
economy through increased exports of pharmaceutical products and services, thereby
augmenting the growth of the Malaysia pharmaceuticals market. Another
contributing factor to the increasing prevalence of chronic diseases in
Malaysia is the aging population. Malaysia, like many other countries, is
experiencing a demographic shift with an increasing proportion of elderly
population due to longer life expectancy and declining birth rates. The elderly
population is more susceptible to chronic diseases such as cardiovascular
diseases, diabetes, and cancer, which are often associated with age-related
physiological changes and accumulation of risk factors over time. Such factors
are likely to fuel the demand for pharmaceutical products during the forecast
period.
However, despite the government's efforts
to increase healthcare expenditure, the affordability and accessibility of
pharmaceutical products remain a challenge in Malaysia. The high cost of some
prescription drugs, especially for chronic diseases, can be a barrier for some
patients in accessing necessary medications which may hamper the growth of
the market during the forecast period.
Browse over XX market
data Figures spread through XX Pages and an in-depth TOC on “Malaysia Pharmaceuticals Market“
The Malaysia pharmaceuticals
market is segmented into type, drug classification, mode of purchase, distribution
channel, and company.
Based on type, the market is divided into pharmaceutical
drugs and biologics. The pharmaceuticals drugs type is expected to witness growth during the forecast period. It is because
current analytical technology generally finds that pharmaceutical drugs are purer and better characterized than biologics. The cell system in
which a biologic agent is created, the fermentation medium or operating
parameters may have an impact on the biologic agent's activity.
Based on drug classification, the market is divided into branded drugs and
generic drugs. The generic drugs segment is anticipated to
grow at a faster rate during the forecast period due to their higher affordability
and same results as branded drugs.
Based on mode of purchase, the market is divided into prescription-based
drugs and over-the-counter drugs. The prescription-based drugs segment is anticipated to
grow at a faster rate during the forecast period. It is mainly since these
pharmaceuticals can only be used by the intended patient to address a
particular medical ailment and are frequently stronger than OTC treatments.
Based on distribution channel, the market is divided into hospital pharmacies,
retail pharmacies, and online pharmacies. The hospital pharmacies segment is
anticipated to grow at a faster rate during the forecast period. This is due to
the availability of all the prescriptions, top quality services, and a wide
choice of healthcare products.
Major
companies operating in the Malaysia pharmaceuticals market are:
- Abbvie, Inc.
- Astrazeneca Plc
- Bristol Myers
Squibb Co.
- GSK plc
- Johnson &
Johnson
- Merck & Co
- Novartis Ag
- Pfizer Inc.
- Roche Holding Ag
- Sanofi
Download Free Sample Report
Customers can also request 10% free customization on this
report.
“The Malaysia pharmaceuticals
market is expected to
witness a significant growth in the coming years, due to the presence of good infrastructure
and support from the government. Addressing the increasing prevalence of
chronic diseases in Malaysia requires a multi-faceted approach that involves
government, healthcare providers, communities, and individuals. Prevention and
early intervention are key strategies to mitigate the burden of chronic
diseases, strengthening the growth of the market, which is expected to grow through
2028” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
Malaysia Pharmaceuticals Market, By Type (Pharmaceutical
Drugs v/s Biologics), By Drug Classification (Branded Drugs v/s Generic Drugs),
By Mode of Purchase (Prescription-Based Drugs v/s Over-the-counter Drugs), By Distribution
Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Region, Competition, Forecast &
Opportunities, 2018-2028F has evaluated the future
growth potential of the Malaysia pharmaceuticals market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the Malaysia pharmaceuticals market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com