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A Brief Overview of the Pharmaceutical Exports of Bangladesh in 2024

The pharmaceutical export of Bangladesh has come across fluctuations in trade at present due to the increase in demand for generic drugs in the global population. The trade statistics have reported that the pharmaceutical market of Bangladesh is primarily dominated by generic drugs. Local manufacturers are producing generic drugs in vast amounts at a significantly lower cost compared to imported branded drugs. The Pharmaceutical Exports Compliance with International Quality Standards has been indulging the country in progressing with a positive trajectory in certifications such as good manufacturing practice from regulatory bodies like the World Health Organization and the European Union.

The expansion of the Pharmaceutical Export Services of Bangladesh to over 157 countries including the United States, the European Union, and various nations across Asia and Africa has facilitated the ability to produce 98% of its domestic pharmaceutical needs, ensuring a robust manufacturing base. The flexibilities under the Trade-Related Aspects and the Intellectual Property Rights Agreement accompanied by the evolution of the manufacturing unit have led to an export of pharmaceuticals from Bangladesh worth 1.5 billion US Dollars in 2024. The generic drugs make up the Domestic Regulatory Standards.

A Detailed Analysis of the Bangladesh Trade of 2024

The Statistical Analysis of the Pharmaceutical Export of Bangladesh for the Past 5 Years

The Top 10 Export Trade Partners of Bangladesh for Pharmaceuticals Export in 2024

With an increase in global consumer-based demand, the trade management authorities of Bangladesh have aligned their export services with countries having strategic pricing ranges. According to the Bangladesh Trade Data, the top 10 export trade partners of the nation for pharmaceuticals export in 2024 are,

1. United States - According to the USA Import Data, the annual valuation of the pharmaceuticals exported from Bangladesh in 2024 - 372 million US dollars.

2. Germany - According to the Germany Import Data, the annual valuation of the pharmaceuticals exported from Bangladesh in 2024 - 242 million US dollars.

3. United Kingdom - According to the United Kingdom Import Data, the annual valuation of the pharmaceuticals exported from Bangladesh in 2024 - 146 million US dollars.

4. France - According to the France Import Data, the annual valuation of the pharmaceuticals exported from Bangladesh in 2024 - 124 million US dollars.

5. Netherlands - According to the Netherlands Import Data, the annual valuation of the pharmaceuticals exported from Bangladesh in 2024 - 122 million US dollars.

6. Canada - According to the Canada Import Data, the annual valuation of the pharmaceuticals exported from Bangladesh in 2024 - 87 million US dollars.

7. Australia - According to the Australia Import Data, the annual valuation of the pharmaceuticals exported from Bangladesh in 2024 - 65 million US dollars.

8. Brazil - According to the Brazil Import Data, the annual valuation of the pharmaceuticals exported from Bangladesh in 2024 - 48 million US dollars.

9. South Africa - According to the South Africa Import Data, the annual valuation of the pharmaceuticals exported from Bangladesh in 2024 - 32 million US dollars.

10. Japan - According to the Japan Import Data, the annual valuation of the pharmaceuticals exported from Bangladesh in 2024 - 24 million US dollars.

Major Pharmaceuticals Exported From Bangladesh in 2024

The pharmaceutical export industry of Bangladesh has solidified itself as a role player in the country's economic growth, driven by a robust manufacturing base. The diversity in production due to the growing demands has facilitated the export trade at a positive rate. According to the Bangladesh Export Data, the top 10 leading variants of pharmaceuticals exported from the nation in 2024 are,

1. Generic Drugs - Export valuation - 453 million US dollars; Annual trade share - 22%

2. Antibiotics - Export valuation - 248 million US dollars; Annual trade share - 14%

3. Cardiovascular Drugs - Export valuation - 122 million US dollars; Annual trade share - 12%

4. Anti-Diabetic Drugs - Export valuation - 87 million US dollars; Annual trade share - 8%

5. Hormonal Medicines - Export valuation - 76 million US dollars; Annual trade share - 6%

6. Vaccines - Export valuation - 65 million US dollars; Annual trade share - 5%

7. Anti-Cancer Drugs - Export valuation - 47 million US dollars; Annual trade share - 3%

8. Ophthalmic Products - Export valuation - 34 million US dollars; Annual trade share - 2.5%

9. Gastrointestinal Medicines - Export valuation - 28 million US dollars; Annual trade share - 1.7%

10. Nutraceuticals - Export valuation - 22 million US dollars; Annual trade share - 1%

The Top Pharmaceuticals Manufacturing Companies of Bangladesh in 2024

The pharmaceutical industry of Bangladesh has emerged as a significant contributor to the global healthcare market. The several companies trading in innovation are due to the improvisation of the quality and export capacity. According to the Bangladesh Customs Data, the top pharmaceutical manufacturing companies of the nation in 2024 are,

1. Square Pharmaceuticals Ltd - Square Pharmaceuticals, established in 1958, has been a representative of the entire pharmaceutical export industry of Bangladesh, with divergent exports including tablets, capsules, injections, and insulin. The annual trade revenue share of the authority is around 27.73% in 2024.

2. Incepta Pharmaceuticals, Ltd. - The authority being established in 1999 is one of the rapidly growing industries and the second largest pharmaceutical company of Bangladesh. The company is renowned for high quality generic drugs and vaccines production and it supplies to over 68 countries worldwide. The annual trade revenue share of the authority is around 15% in 2024.

3. Beximco Pharmaceuticals Ltd - Beximco Pharmaceuticals, founded in the year 1970, is the third-largest pharmaceutical company in the world. The company produces over 500 types of medicines, including treatments for AIDS, cancer, asthma, hypertension, and diabetes. The first authority to bring exports of medicines to the U.S. market has holded a revenue share of around 12% in 2024.

CONCLUSION - The pharmaceutical export industry of Bangladesh is representative of the credibility of the nation in the global healthcare market. The strong manufacturing base, competitive pricing, and focus on high-quality generic medicines foster the export trade rate crucially. Import Globals help you avail the latest trade intelligence on modern shipments via reliant and accessible trade information based on the statistical analysis of the year by increase in shipments to counter your global trade needs.

FAQ'S

Que. What is the export trade value of pharmaceuticals from Bangladesh in 2024?
Ans. The export trade value of pharmaceuticals from Bangladesh in 2024 is 1.5 billion US dollars.

Que. Who is the top export trade partner of Bangladesh in 2024?
Ans. The United States is the top export trade partner of Bangladesh in 2024.

Que. What is the top exported pharmaceutical variant of Bangladesh in 2024?
Ans. Generic drugs are the top exported pharmaceutical variant of Bangladesh in 2024.

Que. Where can you get a detailed trade analysis of the pharmaceutical export of Bangladesh in 2024?
Ans. By subscribing to Import Globals, you can get a detailed trade analysis of the pharmaceutical exports of Bangladesh in 2024.

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