via Khmer NZ
Published on July 29, 2010
by Press Office
(Companiesandmarkets.com and OfficialWire)
LONDON, ENGLAND
Cambodia's pharmaceutical market was calculated to be worth KHR711bn (US$172mn) in 2009. We forecast drug consumption to increase at a rate of 11.6% over the next five years to reach a value of KHR1,232bn (US$302mn) in 2014. Our long range forecast is for the market to reach KHR2,062bn (US$516mn) in 2019, equivalent to annual growth of 11.2% over the 10-year period. In absolute terms, the country's pharmaceutical market is one of the smallest covered by BMI. However, its high growth potential emphasises Cambodia as an emerging target for drugmakers in the medium term. In the Pharmaceutical Business Environment Ratings for Q310, Cambodia is ranked the lowest of the 16 Asia Pacific markets surveyed. The country's medicine market is small in absolute terms and percapita expenditure is low. However, we are forecasting double-digit growth over the medium term. Fundamental disincentives to drugmakers include a young and predominantly rural population, a lack of respect for intellectual property, endemic corruption and excessive bureaucracy.
A decade of economic growth and political stability has allowed Cambodia to begin to tackle its underdeveloped healthcare system. Measures such as health equity funds, a new social health insurance system and the use of nongovernmental organisations (NGOs) has begun to reduce inequalities in the system. The public health budget has grown in line with economic growth. However, per capita health expenditure remains low and around 60% of healthcare costs are paid out-of-pocket.
Government figures show that the national health budget is increasing. However, contributions from foreign donors exceed government contributions at a rate of around 2:1. This reliance on foreign contributions means that health expenditure levels are exposed to fluctuations in the exchange rate. Counterfeit drugs are a major constraint on legitimate drug market growth. Around 65% of the illegal pharmacies operating in Cambodia have been closed, according to the US Pharmacopeia in May 2010. The development comes as the result of a major anti-counterfeiting operation undertaken by the Cambodian government for over five months. According to figures released by the Cambodian Ministry of Health, the number of illegal pharmacies was reduced from 1,081 to 379 between November 2009 and March 2010.
The domestic pharmaceutical industry comprises seven small manufacturers dealing in basic generic medicines. The bulk of demand is met through imports, both from developed markets (such as France) and nascent markets (such as India, Thailand and Vietnam).
Browse all Healthcare and Medical Market Research Reports
http://www.companiesandmarkets.com/healthcare-and-medical-market-research-reports-p77.aspx
Browse all Healthcare and Medical Company Profile Reports
http://www.companiesandmarkets.com/healthcare-and-medical-company-profiles-p104.aspx
Browse all Latest Market Research Reports
http://www.companiesandmarkets.com/market-reports-trends-and-industry-statistics-p9.aspx
About Us
Companiesandmarkets.com is a leading online business information aggregator with over 500,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.com's online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest. Companiesandmarkets.com is focused on providing clients with exemplary customer service and a flexible approach to accessing business information. Our team have extensive expertise in the market research industry and are keen to provide clients advice on their research requirements and possible alternative sources of information; a model which provides clients a value for money solution to research.
Cambodia Pharmaceuticals and Healthcare Report Q3 2010: http://www.companiesandmarkets.com/r.ashx?id=5771221O8328804&prk=c77088981b81b9f597561bc3eea78c8b
No comments:
Post a Comment