BMI View: The Bangladeshi medical device market will achieve one of the fastest growth rates in the world, at 12.0% annually, to 2020. Strong GDP growth and the demand for imported goods will continue to drive growth, and positive trade indicators confirm this view. The under-developed market will remain import reliant as domestic production of medical equipment is very limited.
Latest Updates And Key Forecasts
We maintain our forecast and project that the market will expand by a 2015-2020 CAGR of 13.9% in local currency terms, which will take expenditure to BDT33.6bn in 2020. Market growth in US dollar terms will be lower at a 2015-2020 CAGR of 12.0%, which should see it increase to USD397.9mn in 2020.