Bangladesh - Healthcare and PharmaceuticalsBangladesh - Healthcare
Overview
The healthcare sector in Bangladesh has experienced increased growth in recent years. In 2013, the direct contribution of the sector to GDP was $1.78 billion, increasing to 3.45 billion in 2017. With an annual two-digit growth rate, the Bangladesh pharmaceutical industry is now heading towards self–sufficiency in meeting local demand. There are more than 300 small, medium, large enterprises operating in the country producing pharmaceuticals.
The Government of Bangladesh encourages foreign companies to partner with local companies in producing drugs, and high-tech and specialized products. Regulations have eased, allowing foreign companies to export medical products to Bangladesh.
Bangladesh offers opportunities for U.S. exporters of high-end medical equipment, surgical instruments, diagnostic equipment, and services. Imported medicines and medical devices are subject to customs duties depending on types and classes. Anti-cancer drugs, vaccines, hormonal contraceptives, and others can be imported without any tax. The medical device sector is not currently strictly regulated, although a policy for doing so has been drafted and is now awaiting approval. To enter the healthcare sector in Bangladesh, a company is required to provide the necessary application and supporting documents. For pharmaceutical companies, the applications will go to the Directorate General of Drug Administration (DGDA).
The Ministry of Health and Family Welfare (MOHFW) is responsible for formulating national-level policy, planning, and decision-making in the provision of healthcare and education. The national-level policies, plans, and decisions are translated into actions by various implementing authorities and healthcare delivery systems across the country from the national to the community level. The Ministry and its relevant regulatory bodies also have indirect control over the healthcare system of the NGOs and the private sector. The majority of high quality medical institutions are centered in the city of Dhaka and it acts as the hub for medical service dissemination across the country.
Any direct foreign investor in Bangladesh needs to submit a project proposal to the Bangladesh Investment Authority (BIDA) for review before receiving approval. Once registered with BIDA, companies investing in hospitals and medical educations need to obtain a license from the Directorate General for Health Services (DGHS). Pharmaceutical and medical device companies in turn have to go through DGDA for licensing. However, both the licenses need to be vetted by the Ministry of Health and Family Welfare, the main responsible entity for all the sub-sectors under healthcare.
Leading Sub-Sectors
Medical Devices; Clinical Lab Trials; Waste Management; Safe Water Drinking; Sanitation Coverage.
Opportunities
Dietary Supplements; Pharmacovigilance; Cosmetics; Veterinary and Human Vaccines; Disease Modifying Drugs; Hormonal Therapies.
Web Resources
Bangladesh Investment Development Authority (BIDA)
Bangladesh Association of Pharmaceutical Industries
Prepared by the International Trade Administration. With its network of more than 100 offices across the United States and in more than 75 markets, the International Trade Administration of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.
The healthcare sector in Bangladesh has experienced increased growth in recent years. In 2013, the direct contribution of the sector to GDP was $1.78 billion, increasing to 3.45 billion in 2017. With an annual two-digit growth rate, the Bangladesh pharmaceutical industry is now heading towards self–sufficiency in meeting local demand. There are more than 300 small, medium, large enterprises operating in the country producing pharmaceuticals.
The Government of Bangladesh encourages foreign companies to partner with local companies in producing drugs, and high-tech and specialized products. Regulations have eased, allowing foreign companies to export medical products to Bangladesh.
Bangladesh offers opportunities for U.S. exporters of high-end medical equipment, surgical instruments, diagnostic equipment, and services. Imported medicines and medical devices are subject to customs duties depending on types and classes. Anti-cancer drugs, vaccines, hormonal contraceptives, and others can be imported without any tax. The medical device sector is not currently strictly regulated, although a policy for doing so has been drafted and is now awaiting approval. To enter the healthcare sector in Bangladesh, a company is required to provide the necessary application and supporting documents. For pharmaceutical companies, the applications will go to the Directorate General of Drug Administration (DGDA).
The Ministry of Health and Family Welfare (MOHFW) is responsible for formulating national-level policy, planning, and decision-making in the provision of healthcare and education. The national-level policies, plans, and decisions are translated into actions by various implementing authorities and healthcare delivery systems across the country from the national to the community level. The Ministry and its relevant regulatory bodies also have indirect control over the healthcare system of the NGOs and the private sector. The majority of high quality medical institutions are centered in the city of Dhaka and it acts as the hub for medical service dissemination across the country.
Any direct foreign investor in Bangladesh needs to submit a project proposal to the Bangladesh Investment Authority (BIDA) for review before receiving approval. Once registered with BIDA, companies investing in hospitals and medical educations need to obtain a license from the Directorate General for Health Services (DGHS). Pharmaceutical and medical device companies in turn have to go through DGDA for licensing. However, both the licenses need to be vetted by the Ministry of Health and Family Welfare, the main responsible entity for all the sub-sectors under healthcare.
Leading Sub-Sectors
Medical Devices; Clinical Lab Trials; Waste Management; Safe Water Drinking; Sanitation Coverage.
Opportunities
Dietary Supplements; Pharmacovigilance; Cosmetics; Veterinary and Human Vaccines; Disease Modifying Drugs; Hormonal Therapies.
Web Resources
Bangladesh Investment Development Authority (BIDA)
Bangladesh Association of Pharmaceutical Industries
Prepared by the International Trade Administration. With its network of more than 100 offices across the United States and in more than 75 markets, the International Trade Administration of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.