In the era of COVID, our virtual exhibitions provided a safe haven for networking, fostering valuable connections without geographical constraints or health concerns.
WHAT'S ABOUT EVENT / whats going on there come and learn
Among the industrial sectors of Bangladesh, the pharmaceutical & intermediary sector is advancing with the times. Besides meeting the demand for medicines in the country, Bangladesh is also earning a lot of foreign exchange through exports. Although the pharmaceutical & intermediary industry plays a small role in the country’s GDP, But the best exhibition organizer in Bangladesh Eco Expo believes that, it is hoped that if Bangladesh can sustain this growth, the contribution from this sector to GDP will increase even further in the future. The reliable event organizer in Bangladesh Eco Expo appreciates that, the pharmaceutical & intermediary industry in Bangladesh is moving forward with great potential as 98% of the country’s total demand for medicine is being met by domestic institutions. In addition to meeting the domestic demand, the companies also export medicines to several countries of the world.
At present, the total population of Bangladesh is more than 166 million, which is growing at an average rate of 1.1 percent per year. In addition, according to a report by The Business Standard, there are currently more than 37 million middle-class families in Bangladesh. Which is about 22 percent of the total population of the country and it is constantly growing. In addition, in the fiscal year 2020-21, Bangladesh’s per capita income increased by 8% over the previous year to 2,227 dollars. Apart from the rise in the number of middle and upper-class Bangladeshis, the country’s total consumption is also rising. As a result, the cost of medical care for the country’s citizens has soared.
In 2019, Bangladesh’s pharmaceutical & intermediary market was valued at USD 3.1bn and is forecasted to grow by 7.6% in 2020 and reach $3.54 billion. This market is dominated primarily by generic drugs which account for 71.4% of the total sales in the fiscal year of 2019-20, Bangladesh’s pharmaceutical & intermediary export revenue was 136 million. Besides, Bangladesh ranks 71st out of 134 countries in the world in terms of global pharmaceutical & intermediary exports. Apart from allopathic medicines, Bangladesh also produces homeopathic, ayurvedic medicines. At present, there are about 257 pharmaceutical & intermediary companies in Bangladesh which manufacture about 80 percent of generic drugs.
According to the Bangladesh Association of Pharmaceutical Industries (BAPI), more than 1,200 pharmaceutical & intermediary products have been registered for export in Bangladesh in the last two years. According to the Bangladesh Export Promotion Bureau, in the 2018-19 fiscal year, Bangladesh have exported medicines to a total of 147 countries, including Myanmar, Sri Lanka, Philippines, Vietnam, Afghanistan, Kenya and Slovenia where 60.32% of the exports went.
As a least developed country, Bangladesh would get patent exemption on pharmaceutical & intermediary products till 2033 as per the TRIPS agreement with the World Trade Organization. However, since Bangladesh is looking forward to graduating from LDC by 2026, Bangladesh is likely to lose the patent exemption facility 7 years before the expiration date.
Renowned Exhibition organizer in Bangladesh Eco Expo believes that, Bangladesh will develop more in the pharmaceutical & intermediary’s world.
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Bridging distances virtually, our online exhibitions empowered participants worldwide to showcase, discover, and engage seamlessly, transcending boundaries.
Our online exhibitions broke barriers, allowing exhibitors and buyers to engage, explore, and connect conveniently from the comfort of their homes.
Our shift to online exhibitions empowered exhibitors and buyers alike, ensuring inclusivity and access to opportunities despite the unprecedented circumstances.
Through digital platforms, our exhibitions curated interactive experiences, nurturing meaningful engagements and transactions in a dynamic virtual landscape.
Amidst the pandemic, our online exhibitions became the beacon of adaptability, proving that innovation thrives even in challenging times.
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