Trusted Pharmaceutical Manufacturer From India To Cambodia

Actiza Pharmaceutical Pvt Ltd- Strengthening India-Cambodia Pharmaceutical Ties

Actiza Pharmaceutical Pvt Ltd is growing in the Cambodian market by offering a more comprehensive range of pharmaceutical goods. It does this by focusing on quality and new ideas.

India wants to make healthcare in Cambodia more accessible and affordable. The company’s work fits with that goal.

Actiza Pharmaceutical Pvt Ltd is helping the pharmaceutical industry in Cambodia grow. It does this by encouraging relationships and collaborations. This ensures that Cambodians can get good medicines. They can use them to meet their medical needs.

This partnership increases trade between the two countries. It also shows how important India is in the world’s pharmaceutical business.

Brief overview of the historical and current relationship between India and Cambodia

India and Cambodia have a long history that goes back more than 2,000 years. The first diplomatic ties between India and Cambodia were made in 1952. These ties are made easier by the Indian Embassy in Phnom Penh and the Cambodian Embassy in New Delhi.

India now exports medicines, machines, electrical equipment, and textiles to Cambodia. It imports clothes, rubber, and farm goods. Trade and economic ties have grown stronger.

 India is sending a lot more medicines to Cambodia now than it did before. Indian companies are important sellers in Cambodia. Their generic medicines are known to be both cheap and high quality.

India has constantly supported programs in Cambodia. The programs aim to build up people’s skills. To do this, they offer training programs for Cambodian healthcare workers. The programs teach the best ways to make medicines and help build local infrastructure.

Importance of pharmaceutical collaboration between the two countries

• Improved Healthcare Access
• Affordable and high-quality medicines
• Economic Growth
• Capacity Building
• The harmonization of regulatory standards
• Innovation and R&D
• Joint ventures and collaborative research projects
• Deepens diplomatic and economic relations
• Supports public health programs and initiatives

Overview of the pharmaceutical market in Cambodia

Cambodia’s economy is growing. More people need medical care. So, the pharmaceutical business there is steadily growing. The market relies heavily on imports. India helps by providing many generic medicines and important drugs.

The Ministry of Health oversees Cambodia’s pharmacy industry. It ensures the industry follows international rules to protect quality and safety. There are problems. For example, not being able to make enough drugs locally and complicated rules.

But, the market is growing. This is thanks to more investments and partnerships with foreign pharmaceutical companies. Healthcare infrastructure is getting better.

More people are aware of their healthcare needs. So, the Cambodian pharmacy market is set to grow. This will create many chances for growth and development over the next few years.

Statistical Data on the Pharmaceutical Market

• In 2024, the Cambodian Pharmaceuticals market is projected to bring in US$194.60m.
• In terms of market share, Oncology Drugs is expected to have the biggest share, with US$27.19m in sales that same year.
• Forecasts show sales will grow at a steady rate of 3.11 per cent per year (CAGR 2024–2029). They will reach a market size of $226.80 million by 2029.
• Cambodia’s pharmaceutical market is growing quickly. This is because more money is being spent on healthcare. More people want medical options that are affordable and easy to reach. Total pharmaceuticals exported from India are worth USD 120 million
• The Indian market share in Cambodia is 35% of the total pharmaceutical market.

Detailed overview of the manufacturing process

The process of making medicines has several important steps. The first is research and development (R&D). It looks for and tests new chemicals to see how well they work as medicines.

After this, there are clinical trials, which are done in several steps to make sure they are safe, useful, and the right dose. Once a drug is approved. Formulation development makes the end product.

It combines the active pharmaceutical ingredient (API) with other ingredients well. People use chemical synthesis or biotech to make the API. They then mix the API with other ingredients to make pills, capsules, or other forms. Strict quality control ensures regulatory standards are met.

Finally, the goods are put together and checked. This is to make sure they meet all safety and effectiveness standards before they are sold.

Challenges faced by Indian manufacturers in the Cambodian market.

The obstacles are:

Regulations: Navigating the regulatory landscape in Cambodia is a significant challenge. The Cambodian Ministry of Health (MoH) oversees the registration and approval of pharmaceutical products. Complex regulatory requirements and frequent changes in guidelines can lead to delays in product registration.

Limiting the infrastructure: Cambodia’s infrastructure, though improving, still poses challenges. Limited transportation networks and inadequate warehousing facilities can hinder the efficient distribution of pharmaceutical products.

High business expenses: The cost of doing business in Cambodia is relatively high. Import duties, taxes, and fees can significantly increase the overall cost of goods. Additionally, the need for local partnerships and compliance costs can further strain financial resources.

Supply chain problems: Supply chain management is a critical area where Indian manufacturers face challenges. Poor road conditions, limited cold chain infrastructure, and unreliable logistics services can lead to product spoilage and losses.

Skill disparities: The lack of a skilled workforce in Cambodia can be a barrier to efficient operations. Limited access to qualified professionals in areas such as quality control, regulatory affairs, and marketing can affect the overall quality and compliance of pharmaceutical products.

Regional and local competition: Indian manufacturers also face intense competition from local and regional players. Local manufacturers often benefit from better market knowledge, lower costs, and government incentives.

Political and economic uncertainty: Cambodia has experienced political instability and economic fluctuations, which can impact business operations. Uncertainty in government policies and economic growth can lead to sudden changes in market conditions, affecting business planning and investment.

Privacy and copyright issues: Intellectual property (IP) protection in Cambodia is still evolving. Weak enforcement of copyright laws can lead to issues such as counterfeiting and piracy, affecting the reputation and sales of legitimate products.

Opportunities for growth and expansion

• Growing Market Demand

• Infrastructure Development

• Government Incentives

• Strategic Partnerships

• Investment in Local Manufacturing

• Expansion of Product Lines

• Focus on Quality and Innovation

• Increasing Health Awareness

• Bilateral Trade Agreements

• Digital and E-Commerce Channels

Strategic initiatives to overcome challenges

• Regulatory Navigation

Work with legal and government experts in Cambodia. Do this to make sure you follow the country’s laws and rules. Keep up with changes to regulations and make changes to your plans as needed.

• Infrastructure Investment:

Work with local transportation companies to make the supply chain run more smoothly. Spend money to improve infrastructure. Or, work with local groups to fill in holes in it.

• Cost Management:

To cut high operational costs, use lean methods. Find ways to save money. To cut costs, look into getting raw materials from nearby sources.

• Supply Chain Resilience:

To keep the supply chain from breaking down, build a network of dependable sources. Use advanced inventory tools. They will help you track your stock better and cut wait times.

• Skill Development:

To fill in skill gaps, put money into training and development programs for local workers. Offer ongoing technical help. Also, training should be offered to improve the skills of the local workforce.

• Economic and Political Risk Management:

Focus on economic and political risks on a regular basis and make plans for what to do if something goes wrong. Build strong neighbourhood ties and stay involved in local issues.

• Intellectual Property Protection:

Make sure that intellectual property rights are properly registered and protected in Cambodia. Talk to area lawyers about how to handle and enforce IP issues.

Future trends in the India-Cambodia pharmaceutical trade

• Standardized Procedures:

We use advanced technology and regulatory systems. They make approval processes efficient and ensure they meet global standards.

• Harmonized Standards:

India and Cambodia are working harder to make their governing standards more similar. This will help new products enter markets. It will also help companies register them.

• Expanded Market Share:

Indian drug companies are expected to grow. They will do this by selling high-quality generic drugs.

• Digital Solutions:

Adopting digital tools and technologies for regulatory paperwork is an example. They are for tracking compliance and data management.

• Innovative:

Using new technologies in the production and quality control processes to make products better.

• Diverse Portfolio:

Growing product lines to include more medicinal areas and specialized treatments

Potential areas for collaboration and growth

• Business partnerships and joint ventures
• Help with research and development (R&D)
• Help with regulations and rules
• Partnerships build up skills and train people
• Help with healthcare plans and programs
• Sustainability and acting in a green way
• Putting money into infrastructure
• Policy advocacy

Vision for the future of the partnership

Both countries will use their strengths in research and development. They will also use their strengths in regulatory alignment and infrastructure investment.

They aim to build a strong pharmaceutical ecosystem. It will deliver high-quality, affordable medicines.

Partnerships and joint ventures will help expand markets and build capacity. A focus on sustainability and digital transformation will ensure long-term success.

This partnership is mutually beneficial. It advances public health, spurs investment, and strengthens ties between India and Cambodia.

Conclusion

In conclusion, India and Cambodia can improve healthcare together. This partnership can boost economic growth and strengthen their relationship.

Both countries can build a strong and innovative pharmaceutical landscape. They can do this by working together on key projects to solve problems.

They can also do it by taking chances to work together. The partnership aims to make it easier for people to get high-quality medicines.

It will also help build local skills and promote long-term growth. This will lead to better health results.

It will also create astronger economic ties between India and Cambodia.