Consumer health continues to grow in 2022 thanks to recovering post pandemic incomes, urbanisation, population growth and a growing middle class, with this pattern set to continue over the forecast period. However, the market continues to experience competition from unpackaged and home-made traditional remedies and prescription medicines.
Consumers in Bangladesh are becoming increasingly health conscious and as incomes rise they are becoming increasingly willing to purchase consumer health products to treat or prevent illness. Local manufacturers are responding to this demand with investments in new technology and innovation, which has helped to secure the dominant position of these domestic pharmaceutical companies.
Traditional medicine is widely used in Bangladesh, with unani and ayurvedic medicine being the core national medicine traditions. There was state support for traditional medicine even prior to the country's existence, while the Bangladesh Board of Unani and Ayurvedic Systems of Medicine was created by restructuring existing bodies in 1972.
The demand for healthcare services is growing annually thanks to the increasing purchasing power of the growing middle and upper-middle classes. A rise in the population’s average life expectancy, growing per capita income, changing disease profile, population growth, lifestyle changes and increasing patient population are some of the key drivers that are boosting consumption in the local market.
Pharmaceutical exports have soared since the outbreak of COVID-19 following improvements in product quality and policy support. Export earnings from the country’s pharmaceutical sector has continued on an upward trajectory over the review period on the back of a conducive policy environment, skilled human resources and patent waiver.
OTC products must be registered with the Directorate of Drug Administration (DGDA), with this office part of the Ministry of Health and Family Welfare. The DGDA regulates manufacturing, imports and quality control, while also setting prices for medicines.
Like OTC, vitamins and dietary supplements should be registered with the Directorate of Drug Administration (DGDA). However, a wide range of unregistered products are available within the country, with the DGDA stating that China is a major supplier.
It is projected that consumer health will see strong and steady growth over the forecast period, backed by ongoing investments in the local pharmaceutical industry. While these investments in innovation and technology are mainly targeting the export market, the local market should also enjoy the benefit of these investments.
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Understand the latest market trends and future growth opportunities for the Consumer Health industry in Bangladesh with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Consumer Health industry in Bangladesh, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
It is the aggregation of OTC, Vitamins and Dietary Supplements (VDS), Sports Nutrition, and Weight Management and WellbeingSee All of Our Definitions
This report originates from Passport, our Consumer Health research and analysis database.
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