Consumer health declined in volume sales while retail value sales grew below inflation in 2023. This was mainly due to significant falls in the vitamins and dietary supplements and weight management and wellbeing categories while sports nutrition and dermatologicals continued to grow well.
In 2023, the consumer health industry registered a slight drop that was driven by a poor performance in vitamins and dietary supplements, weight management and wellbeing and sleep aids. These categories had to contend with many difficulties such as unfair competition from contraband with this informal market very difficult to control.
During the last two decades, Paraguay experienced economic growth thanks to favourable terms of trade that enabled improvements in product prices that the country exports. Also important were solid macroeconomic policies, which include institutional reforms such as the inflation targeting mechanism and legislation of fiscal responsibility.
The population of Paraguay reached 7 million in 2023, up from 6.4 million in 2018, with women accounting for 49% of people living in the country.
Paraguay is a landlocked country, bordered in the north by Bolivia, in the east and northeast by Brazil and in the south and southwest by Argentina. Its terrain is less mountainous than any of these countries, however.
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 2023. 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 2023 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.
The price differential especially with Argentina creates many difficulties for the consumer health industry in Paraguay. Given that the situation is unlikely to alter much in 2024, it is possible that the government may intervene in some way.
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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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