Pakistan's pharmaceutical industry has the potential to propel the country to a much needed economic prosperity estimated at $5 billion plus in a span of five years. Presently, however, Pakistan has a negligible presence in the global pharmaceutical industry of almost $1 trillion that is expected to grow to $1.1 trillion by 2014. Pakistan's pharmaceutical industry stands at a little over $2.1 billion with exports of roughly $190 million.
The cumulative annual growth rate of pharmaceutical industry has been 12% during the last three years and local companies launched 2,956 products from 2008 to 2012 as compared to just 193 products by multinational companies.
Due to low population penetration rate of the healthcare, sales do not show seasonality and remain flat, generally. Total pharmaceutical market is valued at $ 1.6 billion of which 53% share is held by local companies. Major international players in Pakistan are GlaxoSmithKline Pakistan, Johnson & Johnson, Aventis Ltd., Abbot, Novartis, and Pfizer etc.
Investment Growth Potential
- Due to rising life expectancy, spending in healthcare is expected to rise in the coming years and forecasts predict Pakistan to be 11th largest pharmaceutical market globally by 2016.
- Parma industry export size currently stands at around $ 100 million and has the potential of crossing $1000 million mark.