Care Products market in Panama

The Panamanian Care Products eCommerce market is predicted to reach US$93.2 million by 2024 and accounts for 8.4% of the total eCommerce market in Panama. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 8.9%, resulting in a projected market volume of US$131.2 million by 2028. Within the Care Products market ECDB considers the following three sub-markets: Personal Care, Health Care, and Household Care.

Market development

eCommerce revenue development in the Health Care market in Panama

The Panamanian Health Care eCommerce market is predicted to reach US$25.7 million by 2024 and accounts for 27.6% of the Care Products eCommerce market in Panama. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 9.9%, resulting in a projected market volume of US$37.5 million by 2028. The Health Care eCommerce market is a sub-market of the Care Products market. Further categories within the Care Products market are: Household Care, and Personal Care.

eCommerce revenue development in the Health Care market in Panama

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Health Care market in Panama

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

201720182019202020212022202320242025202620272028
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)18.926.348.76.995.043.515.197.9
as of Care Products (in %)1.91.92.01.92.22.12.12.22.22.32.32.4

Online share

eCommerce online share of the total Health Care market in Panama

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Panamanian Health Care retail market, the online share is 5.5% and will increase by an average of 9.4% to 7.9% by 2028.

eCommerce online share of the total Health Care market in Panama

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)92.6%33.6%77.7%82.4%28.6%53.5%46.5%76.9%

Market definition

Definition of the Health Care market within the Care Products market

Market definition: Care Products > Health Care In the category Health Care digital channels are used to sell a variety of products, including eye care (e.g. glasses with prescription, contact lenses), medical products (e.g. medical supply, family planning products), nutrition (e.g. food supplements, protein drinks and bars), and more. Not part of the category are fitness and exercise equipment, health and fitness trackers or health publications and magazines. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Eye Care (e.g. glasses with prescription, contact lenses)
  • Medical products (e.g. medical supply, family planning products)
  • Nutrition (e.g. food supplements, protein drinks and bars)
  • Pharmaceuticals (e.g. prescription pharmaceuticals, OTC pharmaceuticals)

Out-of-scope

  • Fitness and exercise equipment
  • Health and fitness trackers
  • Health publications and magazines
  • Medical treatments (e.g. nutrition counseling, medical consultations, health assessments)

Market comparison

The Panamanian Health Care market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis