Solid sales growth was seen in consumer health in 2022 despite the impact of the February 2021 military coup on demand. Some categories such as weight management and wellbeing and sports nutrition recovered from the COVID-19 pandemic, while topical and paediatric medicines gained momentum across different categories as new launches were seen.
The COVID-19 pandemic had little impact on consumer health in Myanmar in 2022. The country did not experience any significant negative impact due to the spread of the Omicron variant of the COVID-19 virus during the year and the number of cases remained low.
Myanmar’s economic growth has been hit by the fallout of the February 2021 military coup, with the World Bank’s GDP growth projections for September 2022 cut to 1%. The short-term outlook for the country’s economy is set to depend largely on how the country recovers from the interruptions that the COVID-19 pandemic caused to commercial activity in key sectors and the effects of social unrest and the response of the international community to events in the country in recent years.
Myanmar’s consumer health industry continues to be negatively impacted by significant weaknesses on both the supply and demand side. During 2022, many consumer health companies were experiencing reduced profit margins due to increased operating costs and cashflow shortages as result of the crisis in the banking sector following the February 2021 military coup.
One of the most important influences on daily life in Myanmar during 2021 and 2022 was the intermittent electricity supply. The Ministry of Electricity and Energy has been interrupting the distribution of electrical power periodically due to reduced power generation capacity and this has resulted in power outages that can last for several hours per day.
Medicines are registered under one of four drug schedules in Myanmar: OTC, Prescription Only, Limited Controlled and Highly Controlled. OTC schedules are provided to all chemists/pharmacies and drugstores/parapharmacies, although most of these retail outlets also sell a wide range of unregistered products.
Vitamins and dietary supplements should also be registered with the FDA. However, in practice a wide range of unregistered products are available in the country as a result of the expensive and time-consuming process of FDA registration.
Consumer health has fared better than many consumer goods industries in Myanmar as the impact of the COVID-19 pandemic and the February 2021 military to have undermined consumer spending power and presented in numerous challenges to companies operating in the industry and this is largely due to the essential nature of many of the major categories that comprise the consumer health industry. This means that the majority of households are prepared to continue spending money on consumer health, even though the prices of a variety of OTC drugs have been increasing rapidly due to currency depreciation, with many households continuing to spend a significant proportion of their incomes on essential OTC medicines.
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Understand the latest market trends and future growth opportunities for the Consumer Health industry in Myanmar 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 Myanmar, 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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