The Pakistani pharmaceuticals industry plays a prominent role in the domestic market. The value of the sector was estimated at $3.29 billion, growing in double digits in the last five years. The sector has seen massive changes in the past decade, providing essential health care products to citizens.
Although Pakistan has established itself progressively as a manufacturing platform for pharmaceuticals, the country remains a small player in the global scenario. Exports are largely dominated by generics and concentrated on limited number of markets. A significant untapped export potential exists in the exports of pharmaceuticals from Pakistan.
This strategy aims to capture the existing potential by addressing constraints pertaining to the infrastructure, testing and certification, trade and competition policy, as well as the availability of inputs and technology. These affect the quality and competitiveness of pharmaceutical products, lowering firm profitability, likelihood of export survival and investment (foreign and domestic) in the sector.
The strategy priorities the product segments that are in heavy demand such as blood thinners, steroids, antibiotics, multivitamins, nutraceuticals and vaccines. Key target markets include Africa, Central Asia, and Europe. The strategy strategy’s implementation will lead to increased exporting through improved quality, increased value-addition, and export diversification, resulting in an improved national image through the development of a national medicine brand.
Through the strategy, the private and public stakeholders of the pharmaceutical sector envision:
‘To increase the international market share by innovation and compliance with international quality standards.’
The Strategy emphasizes the following strategic and operational objectives