Hitherto low market penetration has partly resulted from certain cultural obstacles such as faith in spiritual healers, or
Bomohs, according to Wong Kin San, CEO of Lundbeck. Angel Choi, country manager of Pfizer, also highlighted that conservative social
taboos concerning sex had inhibited the development of the market for drugs treating sexual dysfunction. The presence of a
strong traditional medicine industry, including traditional Chinese medicine and Ayurveda, is a third barrier. Therefore through
CSR and education programs there is significant scope for market development.
Map of Malaysia
|
Furthermore, economic growth is changing the lifestyle habits and epidemiological profile of the nation. Dr. David Quek, president
of the Malaysian Medical Association, explains: "The big challenge now facing Malaysia is from non-communicable diseases.
With increasing development, Malaysia has perhaps imported some bad habits and lifestyle changes from the West." Thirty percent
of Malaysians are technically obese, while another 30% are overweight and 14.9% of the population has diabetes. Chronic diseases
are therefore the new healthcare challenge for the country.
With such pressing health needs, there is a necessity to overcome Malaysia's geographical and infrastructural challenges to
provide sufficient access to medicines. Rimolt praises the government for widening access to diabetes treatment, stating that
"there are numerous initiatives to push treatments further down the healthcare system, all the way to the family physician
in the kampongs (villages) of Sabah and Sarawak." With 1.85 million diabetes sufferers in Malaysia, companies with a strong diabetes focus
such as Novo Nordisk and Eli Lilly are posting double-digit growth. The worrying expansion of Malaysia's waistline is therefore
presenting opportunities for innovator companies.
Dato' Sri Liow Tiong Lai, Malaysian Minister of Health
|
Finally, the proposed "1Care" Malaysia reforms are due to transform the healthcare system, creating a unified NHS-style, single-payer-system
instead of the current dual system. According to Professor Kenneth Lee, head of pharmacy at Monash University and specialist
in pharmacoeconomics, the proposed reforms will change the dynamic from a system focused solely on price to one making the
value of treatment paramount. These reforms, which the Minister of Health, Dato' Sri Liow Tiong Lai says will occur over the
next five years, should allow multinationals to revert to their standard business model, relying on innovative products rather
than seeking other avenues of growth.
|
PharmExec Blog
Follow Us
RSS
Bookstore
