The global Halal Pharmaceuticals Market is anticipated to reach USD 34.82 billion by 2026.
The significant growth in the Halal Pharmaceuticals Market is primarily due to the rapid increase in the Muslim population, along with their improving disposable income. Increasing purchasing power and deepening belief in Shariah law together is responsible for creating a surge in demand for halal pharmaceuticals. Shariah law is derived from the Quran and is basically a collection of practices, words, habits, and silent approvals. As per the law, products containing the discharge of human beings or animals, and in direct or indirect contact with non-halal items. Moreover, it must not contain traces of things that are unfit for human consumption such as poison, and toxic elements.
Halal pharmaceuticals are expected to be prepared under a controlled environment to avoid any cross-contamination with non-halal utilities, materials, and ingredient. Extra care is taken in the manufacturing of these pharmaceuticals as no contamination will be tolerated. Rapid growth in demand has encouraged the Halal Pharmaceuticals Market players to actively indulge in activities that are aimed at or new product development.
For more information or any query mail at sales@wiseguyreports.com
Growing Muslim population is showcasing a high interest in halal pharmaceuticals and cosmetics. This can be attributed to the increasing consumer awareness about the deepening beliefs and growing knowledge that pharmaceuticals contain alcohol, porcine-by products, and their derivatives, among other non-halal contents or ingredients that are against Islamic beliefs.
The Halal Pharmaceuticals Market experience tough challenge in defining proper regulation and standards. Recently, American pharmaceuticals companies expressed their concerns over the guidelines by Malaysia’s Ministry of Health (MOH). These guidelines were focused towards defining the permissible items in pharmaceuticals in accordance with Islam. The concern was highlighted in the annual submission to the United States Trade Representative by the Pharmaceutical Researchers and Manufacturers of America (PhRMA).
The Halal Pharmaceuticals Market has been segregated based on drug class, type, end-use, and region. By drug class, the market has been divided into allergies, endocrine drugs, pain medications, respiratory drugs, and others. By type, the market has been bifurcated into capsule, syrup, and tablet. The industry experience high demand for end-use applications such as drugs, cosmetics, healthcare, and others.
The Middle East and the Asia Pacific regions Halal Pharmaceuticals Market are expected to witness significant growth in the next eight years due to the presence of a large population of Muslims. Majority of the Muslim population of the world lives in these regions, and they also comprise of emerging nations such as India, Indonesia, Malaysia, Bangladesh, Maldives, and Pakistan that have a high population that follows Islamic beliefs.
The list of key companies that are operating in the Halal Pharmaceuticals Market includes Chemical Company of Malaysia Berhad, Rosemont Pharmaceuticals, Bosch Pharmaceuticals, Noor Vitamins, EMBIL Pharmaceutical Co., Ltd, Nutramedica Incorporated, Pharmaniaga Bhd, and SimporPharmaSdnBhd, among others.
DHM explained that Pharmaniaga is only responsible for the logistics of supplying drugs to government health facilities, rather than the supply itself.
“The big problem is price control, not Pharmaniaga,” says MyCC
Social activist Lim Mah Hui, one of the conductors of the MyCC study, said Pharmaniaga did not have a monopoly over supply but a virtual monopoly over logistics.
Actually there are 2 multinational companies main logistic and distributor of Healthcare products for Malaysia market. What pharmaniaga handle only small fraction and not monopoly. Ask people in industry.
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
MQ Trader 887 views | 4 d ago
0:17
New IPO: An enterprise IT solutions provider that provides implementation services, maintenance, support and professional services, Vetece Holdings Bhd aims to list on the Ace Market!
MQ Trader 757 views | 8 d ago
0:17
New IPO: A manufacturing and trading of biomass fuel products, particularly PKS and wood pellets company, Elridge Energy Holdings Bhd aims to list on the Ace Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ikenduit
581 posts
Posted by ikenduit > 2019-06-20 05:42 | Report Abuse
Go promote your AHealth somewhere else liao. You know nuts abt this counter. Haha