Over the past decade, Bangladesh has made remarkable progress in healthcare indicators

Over the past decade, Bangladesh has made remarkable progress in healthcare indicators. The country has reduced child mortality, improved maternal health, and decreased the incidence rate for many serious diseases, resulting in increased life-expectancy for Bangladeshis. Consistent economic growth, increased government expenditures for healthcare, and improved access to medical facilities are contributing to the growth of this sector.

But despite such remarkable progress, the medical supplies sector is untapped in the country.In 2018, the medical supplies market in Bangladesh was projected to be US $243.6 million. The medical supplies sector of Bangladesh is exclusively import-oriented. Low per-capita health expenditure, lack of large facilities with hi-tech knowledge are the main barriers in this industry.

Every year, importers bring in medical equipment, devices, disposables, electro-medical equipment and technologies, laboratory equipment, surgical equipment and accessories from several countries and pay a huge sum of money. Since 2011, hospitals in Bangladesh experienced up to 22.5% growth in patients. Moreover, in recent years huge private hospitals were buying expensive high-end equipment and medical devices. People related to the business believe there are bigger opportunities for local companies because of the huge demand.

Very little domestic manufacturing takes place in Bangladesh and what does almost entirely comprise of basic medical supplies. The small and medium-size medical equipment market has been flooded with a large number of substandard medical instruments imported mainly from India, Pakistan and China.