A generic drug is a
pharmaceutical drug that contains the same chemical substance as a drug that
was originally protected by chemical patents. Generic drugs have the same
active pharmaceutical ingredient (API) as the original drug but may differ in
some properties such as manufacturing process, formulation, excipients, color,
taste, and packaging. These drugs are approved by regulatory agencies, such as
the U.S. Food and Drug Administration (FDA), as safe and effective alternatives
to the original brand-name drugs. The main difference between generic and
brand-name drugs is that generic drugs are usually sold at a lower cost, as
they do not require the same level of research, development, and marketing as
brand-name drugs. Some of the commonly purchased generic drugs include Atorvastatin
(Lipitor), Lisinopril (Zestril), Gabapentin (Neurontin), Omeprazole (Prilosec),
Metformin (Glucophage), and others. Growing prevalence of various chronic
diseases among people of the country such as hypertension, diabetes mellitus, asthma,
heart diseases, kidney failure, stroke, cancer, and others are leading to the
rise in mortality rate of the country. Proper medication and supervision which
is required for accurate treatment of these diseases is driving the growth of
Malaysia generic drugs market in the forecast period. Increase in the support
provided by the Malaysian government to improve the quality of healthcare
facilities provided is rising the demand of generic drugs in Malaysia.
Moreover, the implementation of various medical policies and health insurance
is making the purchase of medicines more affordable for people, which is
further expected to propel the growth of generic drugs market in Malaysia
during the futuristic period. Rise in geriatric population of the country and
growing prevalence of diseases which are associated with people in their elder
age is also expected to boost the growth of Malaysia generic drugs market in
the forecast period.
Growing Prevalence of Chronic
Diseases
Chronic diseases are
long-term health conditions that require ongoing medical attention and can have
a significant impact on a person’s quality of life. Cancer, respiratory
diseases, cardiovascular diseases, hypertension, and diabetes are some of the
leading chronic diseases which are affecting majority of the people in
Malaysia. Unhealthy habits of people such as physical inactivity, consumption
of unbalanced diet, alcohol, smoking cigarettes, and others are some of the
major driving factors behind growing emergence of diseases in the country. The
growing prevalence of chronic diseases in Malaysia is driving demand for
healthcare services, including prescription drugs. However, branded
prescription drugs can be expensive, especially for people who need to take
them regularly over a long period of time. As a result, many patients are
turning to generic drugs as a more affordable alternative. In recent years,
coronary heart diseases have emerged as the most common reason behind increase
in mortality rate of the country. According to the data presented by Malaysian
Ministry of Health Report in 2022, it has been observed that in 2019, around
15% of 109,164 medically certified deaths were caused by coronary artery
disease (CAD), which accounted as 2.5 times more than all cancer-related death
combined. Aspirin, statins, beta-blockers, ACE inhibitors, calcium channel
blockers, and nitroglycerin are some of the main generic drugs which are used
extensively in Malaysia for treatment of heart related diseases. Another most
common reason which is considered as a leading factor for growing number of
deaths in the country is hypertension. According to the National Health and
Morbidity Survey (NHMS) conducted by the Ministry of Health Malaysia in 2019,
the prevalence of hypertension among adults aged 18 years and above in Malaysia
was 30.3%. Moreover, the study also revealed that the prevalence of hypertension
was higher in men (32.7%) than in women (27.8%). Among different age groups,
the prevalence of hypertension was highest among those aged 60 years and above
(71.5%) followed by those aged 50-59 years (52.1%). Angiotensin receptor
blockers (ARBs), calcium channel blockers, diuretics, ACE inhibitors, and beta
blockers are some of the leading generic drugs which are used to cure
hypertension in the country. Moreover, the rise in instances of chronic
diseases in the country is growing the demand of effective generic drugs in the
country which is further expected to propel the growth of Malaysia generic
drugs market in the forecast period.
Supportive Government
Policies and Initiatives
Malaysia has been taking
steps to encourage the use of generic drugs as a means of reducing healthcare
costs and improving access to healthcare. Government policies and initiatives
have played a significant role in driving the growth of the generic drugs
market in Malaysia. One of the key policies that has been implemented recently is
the National Pharmaceutical Regulatory Agency (NPRA) act. The NPRA is
responsible for ensuring the safety, efficacy, and quality of pharmaceutical
products, including generic drugs. This has created a more robust regulatory
environment that has increased consumer confidence in generic drugs. Another
policy that has been executed is the Malaysian government's National Medicine
Policy, which emphasizes the use of generic drugs. The policy encourages
healthcare providers to prescribe generic drugs whenever possible and includes
measures to increase public awareness of the benefits of generic drugs. One
recent development in the Malaysian generic drugs market is the introduction of
the "Medication Substitution Policy" in July 2021, which allowed
pharmacists to substitute branded drugs with generic equivalents when filling
prescriptions. It was approved by the Malaysian National Pharmaceutical
Regulatory Agency. Growing number of policies and initiatives taken the
government to improve the medical facilities of the country is further expected
to bolster the growth of Malaysia generic drugs market during the forecast
period.
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Growth in Geriatric
Population
The growth in the geriatric
population is a significant driver of the Malaysia generic drugs market. As the
population ages, the demand for healthcare services and medications increases,
creating a need for affordable and accessible drugs. According to Statistics
Malaysia, the proportion of Malaysians over the age of 65 is expected to increase
from 7.3% in 2020 to 14.5% in 2040. This demographic change may lead to an
increase in chronic diseases such as hypertension, diabetes, and cardiovascular
disease that require long-term medication. According to data released by The
Malaysian Reserve, Malaysia is officially classified as an aging country as the
population aged 65 and over is expected to reach 7.3% of the country's
population by 2023. In addition, the Malaysian Department of Statistics
(DoSM) predicts that Malaysia's aging population is growing faster than
expected, with more than 15% of the population is predicted to increase over 65
by 2050. According to the
report published by BMC Public Health in 2022, it has been reported that in
2019, older adults accounted for 67.4% of total deaths in Malaysia (117,102 out
of 173,746). The leading causes of premature death in the elderly people
are ischemic heart disease (29.5%), followed by cerebrovascular disease
(stroke) (20.8%), lower respiratory tract infection (15.9%), diabetes mellitus
(8.1%), and trachea, bronchial and lung cancer (5.0%). Moreover, prevention
of these diseases requires proper medication for controlling the mortality rate
among geriatric population in the country which is further expected to propel
the growth of Malaysia generic drugs market in the futuristic period.
Malaysia generic drugs market
is segmented based on type, application, drug delivery, form, source,
distribution channel, company, and region. In terms of type, the generic drugs
market is categorized into small molecule generics and biosimilars. Based on, application,
market is divided into cardiovascular diseases, diabetes, neurology, oncology,
anti-inflammatory diseases, and others. Based on drug delivery, generic drugs
market is segmented into oral, topical, parenteral, and others. Based on form,
market is fragmented into tablet, capsule, injection, and others. Based on
source, generic drugs market is segmented into in house and contract
manufacturing organizations. Based on distribution channel, the market is
fragmented into hospital pharmacies, retail pharmacies, online pharmacies, and
others.
Market Players
Pharmaniaga Berhad, Duopharma
Biotech Berhad, Kotra Pharma (M) Sdn. Bhd., Ccm Pharmaceuticals Sdn. Bhd., Hoe
Pharmaceuticals Sdn. Bhd., Noipharma Sdn. Bhd., ROYCE Pharma Manufacturing Sdn.
Bhd., Xepa-Soul Pattinson (Malaysia) Sdn. Bhd., Sm Biomed Sdn. Bhd., and RANBAXY
MALAYSIA SDN. BHD.
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Attribute
|
Details
|
|
Base
Year
|
2022
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|
Historic Data
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2018 –
2021
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|
Estimated
Year
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2023
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|
Forecast Period
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2018
– 2028F
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|
Quantitative
Units
|
Revenue
in USD Million and CAGR for 2018-2022 and 2023-2028
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|
Report Coverage
|
Revenue
forecast, volume forecast, company share, competitive landscape, growth
factors, and trends
|
|
Segments
Covered
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Type
Application
Drug
Delivery
Form
Source
Distribution
Channel
|
|
Regional Scope
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East
Coast Region, Southern Region, Northern Region, East Region, Central Region
|
|
Key
Companies Profiled
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Pharmaniaga
Berhad, Duopharma Biotech Berhad, Kotra Pharma (M) Sdn. Bhd., Ccm
Pharmaceuticals Sdn. Bhd., Hoe Pharmaceuticals Sdn. Bhd., Noipharma Sdn.
Bhd., ROYCE Pharma Manufacturing Sdn. Bhd., Xepa-Soul Pattinson (Malaysia)
Sdn. Bhd., Sm Biomed Sdn. Bhd., RANBAXY MALAYSIA SDN. BHD.
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|
Customization Scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and Purchase Options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery Format
|
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
|
Report Scope:
In this report, Malaysia generic drugs market has been
segmented into following categories, in addition to the industry trends which
have also been detailed below:
- Malaysia
Generic Drugs Market, By Type:
o
Small
Molecule Generics v/s Biosimilars
- Malaysia
Generic Drugs Market, By Application:
o
Cardiovascular
Diseases
o
Diabetes
o
Neurology
o
Oncology
o
Anti-Inflammatory
Diseases
o
Others
- Malaysia
Generic Drugs
Market, By Drug Delivery:
o
Oral
o
Topical
o
Parenteral
o
Others
- Malaysia
Generic Drugs
Market, By Form:
- Tablet
- Capsule
- Injection
- Others
- Malaysia
Generic Drugs Market, By Source:
o
In
House
o
Contract
Manufacturing Organizations
- Malaysia
Generic Drugs Market, By Distribution Channel:
o
Hospital
Pharmacies
o
Retail
Pharmacies
o
Online
Pharmacies
o
Others
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in Malaysia generic drugs market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following customization
options are available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Malaysia generic drugs market is an
upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]