Malaysia Generic Drugs Market By Type (Small Molecule Generics, Biosimilars), By Application (Cardiovascular Diseases, Diabetes, Neurology, Oncology, Anti-Inflammatory Diseases, and Others), By Drug Delivery (Oral, Topical, Parenteral, and Others), By Form (Tablet, Capsule, Injection, and Others), By Source (In House, Contract Manufacturing Organizations), By Distribution Channel (Hospital Pharmac
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationMalaysia Generic Drugs Market By Type (Small Molecule Generics, Biosimilars), By Application (Cardiovascular Diseases, Diabetes, Neurology, Oncology, Anti-Inflammatory Diseases, and Others), By Drug Delivery (Oral, Topical, Parenteral, and Others), By Form (Tablet, Capsule, Injection, and Others), By Source (In House, Contract Manufacturing Organizations), By Distribution Channel (Hospital Pharmac
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
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
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.
Growth in Geriatric Population
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
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.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2018 – 2028F |
| Quantitative Units | Revenue in USD Million and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Type Application Drug Delivery Form Source Distribution Channel |
| Regional Scope | East Coast Region, Southern Region, Northern Region, East Region, Central Region |
| Key Companies Profiled | 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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