Malaysia

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!