Local production of healthcare technologies stressed

Soon after taking the helm of the health ministry, Prof Dr Shamanta Lal Sen shared his vision of bringing government healthcare facilities to the door steps of all citizen across the country. In order to turn the dream into a reality, he imphasized on access to reasonable or low-cost healthcare technologies.

Being one of the most renowned physicians, realizing the demand of the time is not so difficult, but finding out the right solution in a densely polluted country where the patients need to spend almost 70% of the medical expense from out of their pockets, is the most difficult task.

In face of the depreciation of taka against dollar, the local pharmaceuticals and medi-device import companies are mulling price hike of the medicare products which will increase the healthcare cost further. In such circumstance, the technocrat minister stressed on production of local medicare products along with medical devices.

While talking to the Views Bangladesh, the minister said: “It will be a difficult task to give a quick solution but being a physician in heart, I will at least try to build a base to the solution.”

He said that in recent days when the inflation is higher, information regarding price hike of the medicare products has become a topic of concern. And the best possible solution to the problem is producing healthcare products including medicine, vaccines and devices at home."

“Stent price is a much-talked about subject for years. But if it can be produced locally the price definitely will go lower,” he added.

The development of the pharmaceuticals sector of the country is well known and to keep the price lower the government will provide all sort of support to the sector, he added.

According to the Bangladesh Association of Pharmaceutical Industries (BAPI) the pharma companies of the country are also looking into the matter to lower production cost and make it more available to the people.

BAPI said the value of active pharmaceutical ingredients (APIs) made in the country grew four times to more than Tk 2,000 crore from about Tk 500 crore in 2010.

SM Shafiuzzaman, secretary-general of the association said that 15 firms including Eskayef, Square, Beacon and Beximco, produce APIs in the country.

However, insiders said the production is very lower till now.

About vaccines productions, the minister said they have already talked to the World Health Organization (WHO) about the matter so that the country people can get the vaccines in lower prices.

“A team will visit the country soon. So that we can produce different sort of vaccines domestically,” he mentioned.

In 2022, the medical devices and equipment industry was included in the National Industrial Policy 2022 but it did not get much support from the budget for FY24 to ensure well-organised growth of the sector.

Being informed of the matter, the minister said that his ministry would look into the matter and will provide all sort of support if necessary.

When contacted, Moushumi Islam, Managing Director of Promixco Ltd, one of the largest medical device production companies in the country lauded minister’s words and said if government helps in their growth it will also benefit general patients as well.

She said that the nature of business, especially tech-based business has been changed.

Modern medical devices are complex, multidisciplinary products, spanning disease states, technical domains, geographies, and regulatory contexts. Conceptualizing, building, and operating these products requires identifying, integrating, deploying, and managing a multitude of disparate tools, technologies, frameworks, and standards.

So, the companies need to place their focus on value creation, research and development in accordance with the local and target market with a compulsory strategic collaboration with international partners, she added.

And so, what are needed at this current moment are opportunities and support and most of the government willing. The recognition to the policy is the first step but for the better growth of the sector will get true momentum if it gets government support through budget and NBR, she said while highlighting on the immediate need for the sector.

Modified duty structure and also duty subsidy for the industry, benefit of manufacturing non-traditional product incentives for rapid growth of the industry will be the best assists she explained adding that protecting initiatives should be taken for locally made quality medicare products as well.

According to industry insiders, the local medical equipment market is worth around Tk 4,000 crore, some said it could reach as much as Tk10,000 crore and only 6-8 per cent of the demand is met by local manufacturers.