Malaysia: a Consumer Healthcare and Prescription Drugs market full of opportunities
The Malaysian Consumer Healthcare and Prescription Drugs market is growing and has a bright future looming ahead. Continue reading to discover more about this enticing market in South East Asia.
The Malaysian consumer healthcare and pharma industry has shown progressive growth over the years, particularly in the last decade. Recently, economic indications in the country have begun to look positive, which should help sustain growth within the OTC and pharma sector.
According to our forecast, the Malaysian OTC and pharma market is estimated to be worth around USD 3,69 billion in 2035, ex-factory, with almost all of the world’s international pharmaceutical companies represented in the country in addition to the local ones.
Currently, the local industry meets approximately 30% of domestic demand, in addition to exporting to other Asia-Pacific countries, the Middle East, Africa, Latin America and Europe. But the rather large remaining 70% of domestic demand is accounted for by imported products, on which Malaysia is highly dependent.
Over the past few years, a number of regulations were implemented by the government to overcome the difficulties the country was experiencing, such as their import reliance weighing on the country’s expenses. Malaysia’s progressive government policy is aimed at attracting international investments, improving the local manufacturing standards, and improving access to other global Islamic markets with new halal production regulations. All of those decisions are strengthening the Malaysian OTC and pharma market and its future development.
If you are planning on entering Malaysia, our expertise and long-standing network can support you. The Chameleon Pharma Consulting Group has extensive OTC and pharma expertise in South East Asian markets, and we would be thrilled to support you to take advantage of the opportunities this region has to offer!
Malaysia OTC and pharma market in 2035
USD 3,69 Billion
OTC and pharma market size, ex-factory
OTC and pharma market growth
Malaysia in numbers
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