A study on the significant factors that influence state government workers buying decision towards nutritional products in Papar district / Ilies William Nafsiah Liam

The Malaysian pharmaceutical market has been growing at between 8 to 10% annually in 2002. The current market size is estimated at about US$395 million for prescription and over-the-counter (OTC) medicines. The market for traditional medicines together with health and food supplements is estimated a...

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Bibliographic Details
Main Author: William Nafsiah Liam, Ilies
Format: Student Project
Language:English
Published: 2006
Subjects:
Online Access:https://ir.uitm.edu.my/id/eprint/102506/1/102506.pdf
https://ir.uitm.edu.my/id/eprint/102506/
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Summary:The Malaysian pharmaceutical market has been growing at between 8 to 10% annually in 2002. The current market size is estimated at about US$395 million for prescription and over-the-counter (OTC) medicines. The market for traditional medicines together with health and food supplements is estimated at between US$526-US$790 million. The market still relies to a significant extent on imports. There are currently 72 manufactures in Malaysia licensed by the Drug Control Authority. Health supplements are easily available from pharmacies, health food stores, supermarket, direct selling agents, and even on the Internet with a prescription. Consumers have many choices and thus need to decide on what to believe in and what not to, evaluate the authenticity and accuracy of the claims, and determine the efficacy and safety. Malaysia has become one of the first countries in the Association of Southeast Asia Nations [ASEAN] to gain membership in Europe's Pharmaceutical Inspection Cooperation Scheme [PIC/S] in January 2002. The move is expected to raise the standards of the local pharmaceutical industry. According to the Nutritional Society of Malaysia, dietary supplements include preparation of vitamins, minerals, amino acid and mixtures of these nutrients, as well as herbs and other botanicals. Malaysians spent an average of US$17.30 a month on health supplements. The local dietary supplements market has seen steady growth over the years.