In Bangladesh, consumer health faces the challenge of inflation across various categories in 2023. Meanwhile, consumer preferences are shifting towards modern medicine due to its perceived quick effectiveness, leading to a decline in demand for herbal/traditional remedies.
In 2023, prices have increased by approximately 15-45% across consumer health due to the increase in the cost of raw materials and import shortages. Inflation also stands at 11% in Bangladesh while the dollar continues to increase in comparison with the local currency.
Most consumer health products are considered essential, with the exception of wound care, weight management, and sports nutrition. The majority of these products become crucial when consumers fall ill.
There has been a noticeable increase in social awareness among consumers, leading more people to rely on modern consumer health products. However, the ongoing economic challenges have had a significant impact on sales and growth performance.
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.
Vitamin & dietary supplement sales storage and import has no specific guideline from government body. Although vitamin category market size is quite big but authority does not have any interest for development this sector.
Health consciousness will continue to rise over the forecast period, however, the ongoing economic challenges will continue to disrupt growth and demand. Prices have already surged by approximately 35%, and this is set to continue for some time.
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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.
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Consumer Health
It is the aggregation of OTC, Vitamins and Dietary Supplements (VDS), Sports Nutrition, and Weight Management and Wellbeing
See All of Our DefinitionsThis report originates from Passport, our Consumer Health research and analysis database.
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