Consumer health grew strongly in 2022 as society reopened in the wake of the pandemic. However, after a moderate rebound in 2021 the economy slowed in 2022 as consumer spending was hampered by rising inflation, which led to rising prices and a decline in living standards.
After a moderate rebound of the Paraguayan economy in 2021, the pace of economic growth slowed in 2022. Much of this was stimulated by the effects of drought in the country that dampened the growth of exports and private consumption.
Prior to the pandemic Paraguay’s economy was continually improving thanks to the construction boom, the strong performance of the country’s agri-business industry and the rebound seen in manufacturing over the course of the review period. The economy was growing faster than many other countries in Latin America, with robust public spending on infrastructure providing additional support to the country’s booming economy.
Paraguay’s national health system was created by law 1032/96 and comprises various public, private and mixed healthcare systems. Access to this health system is through the payment of public insurance premiums to the Instituto de Previsión Social (IPS), although access to public health centres and hospitals is free in rural areas where poverty is common.
The routes to the main cities are well developed in the country with the country comprised of departments, similar to states. However, corruption and political instability can make product distribution difficult due to road insecurity.
The law that controls and regulates all consumer health products is Law 1119/97 On Health and Other Products, with no changes to the regulations in 2022. This law covers the manufacturing, processing, quality control, distribution, prescription, dispensing, marketing, representation, importing, exporting, storage, rational use, pricing, information, authorisation and registration of all medicinal products for human use.
Vitamins and dietary supplements are heavily regulated in Paraguay and these products have the same status as OTC medicines with no changes in the regulations in 2022 over the previous year. The Ministry of Health must approve all commercial activity relating to these products, which means that importers, manufacturers, distributors and retailers must all apply for licences and register with the ministry.
Prior to the pandemic, Paraguay’s economy was growing faster than many other Latin American countries. Once the country recovers fully from the economic consequences of COVID-19, consumer health will thus benefit from rising disposable income levels among some demographics once more, enabling them to spend more on prevention products such as vitamins and dietary supplements.
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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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