Consumer health sales grew moderately in 2023 as consumers prioritised their spending on essential goods over preventive health. As a result, vitamins and dietary supplements and weight management and wellbeing were the most affected.
In 2023, the consumer health industry in Panama registered moderate growth, following the same trend in the previous year. This moderate growth was especially caused by contractions in categories such as vitamins and dietary supplements and weight management and wellbeing.
Panama is one of the most stable countries in Latin America. The country has enjoyed a democratic system and freedoms since 1989, which has enabled it to grow and, thanks to its location, become a hub for the region in different markets.
More public health initiatives that focus on prevention were seen over the review period. For example, a programme started by the Office of the First Lady (Despacho de la Primera Dama), known as Health on Wheels (Salud Sobre Ruedas) featured mobile clinics that can travel to different areas.
There is a sound road infrastructure in Panama, with the logistics network supporting the distribution of goods. Due to its strategic location, Panama serves as a distribution hub for North and Latin America.
In May 2022, the Executive Decree that allows for the purchase due to critical shortages of medicines or pharmaceutical products was signed. In addition, the technical working group formed to solve the shortage of medicines, led by the Vice President of the Republic and Minister of the Presidency, also recommended that Panama join the Regional Medicines Observatory, through the United Nations Office, which will allow negotiating the prices of medicines.
Vitamins and dietary supplements are not heavily regulated in Panama as they are not considered to be products that present any potential danger to human health. The only statutory requirement is that they must be submitted to the PPDA for approval before being distributed for retail sale and thereafter included in the sanitary product registry.
In 2023, categories such as vitamins and dietary supplements recorded a decrease in demand as they are not considered priority products. It is expected that growth will not be substantial in these categories in the forecast period given that much of their recent growth during the pandemic stemmed from consumers seeking immunity from COVID-19 before vaccines were available.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Consumer Health industry in Panama 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 Panama, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
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.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!