Industry structure competition and demand the

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INDUSTRY STRUCTURE , COMPETITION AND DEMANDThe pharmaceutical company in Bangladesh is one of the most developed technology sectors within Bangladesh. Manufacturers produce insulin, hormone and cancer drugs. This sector provides 97% of the total medicinal requirement of the local market. The industry also exports medicines to global markets, including Europe. Pharmaceutical companies are expanding their business with the aim to expand the export market.There are 5 types of medicine manufacturing companies in Bangladesh.13
According to recently published Bangladesh Pharmaceutical Index, 3Q'2011, Bangladesh has a Tk. 8,000 Cr market, which is growing at 25% rate. Healthcare Pharmaceutical ltd made a great jump to 12th position. Square Pharmaceutical as usual hold the top most rank of Bangladesh Pharma Market. There are no multinational pharmaceutical company in Top 10 position that implies the strong pharmaceutical marketing skill and product quality which play important role to drive Doctor prescribe local manufactured medicine.14
Here are the top 10 pharamceutical companiens:15
MARKETING COMPONENTS:IDENTIFYING MARKET SEGMENT AND SELECTING TARGET MARKETMarket for product is big and diverse making it difficult for companies to be able to satisfy everycustomer. Companies need to identify a certain set of customer within a market and work towards satisfying them. An approach known as target marketing is gaining prominence where companies identify the market segment on similar needs and wants, select one of the market segments and then focus in developing products and marketing program.In segment marketing companies identify consumer with similar needs and wants.Based on statistics from the International Monetary Fund’s World Economic Outlook Database, the total Gross Domestic Product for African countries amounted to roughly $5.809 trillion in 2015. Exports from Africa were worth US$373.1 billion in 2015. African exports represent an estimated 2.3% of total world exports which were $16.239 trillion during 2015.16
Research Sources:International Monetary Fund,World Economic Outlook Database(GDP based on Purchasing Power Parity). Accessed on May 13, 2016Looking from this statistics we can learn that targeting South Africa, Nigeria, Algeria and Angola as Beximco Pharmaceutical’s target market, they can generate higher revenue and increase theirmarket share.4 REASONS WHY THE PHARMACEUTICAL MARKET IS BOOMING IN AFRICA :1. A disease-prone environmentAfrica may be home to less than 15 percent of the world’s population but it is the continent where up to 25 percent of the world’s diseases occur.The reasons for this sad statistic (from the WHO) include: poor access to essential medicines and vaccines, low quality healthcare, malnutrition, poverty and a tropical (warm) climate that favours the breeding of disease vectors (like mosquitoes which cause malaria).

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