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 Medical Products market in Panama

The Panamanian Medical Products eCommerce market is predicted to reach US$3.1 million by 2024 and accounts for 12.0% of the Health Care 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 7.1%, resulting in a projected market volume of US$4.0 million by 2028. The Medical Products eCommerce market is a sub-market of the Health Care market. Further categories within the Health Care market are: Eye Care, Nutrition, Other Health Care, and Pharmaceuticals.

eCommerce revenue development in the Medical Products 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 Medical Products 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 %)20.441.546.527.687.676.995.740.6
as of Health Care (in %)9.39.810.09.910.711.712.312.813.414.014.615.2

Online share

eCommerce online share of the total Medical Products 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 Medical Products retail market, the online share is 5.6% and will increase by an average of 9.4% to 8.1% by 2028.

eCommerce online share of the total Medical Products market in Panama

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)89.1%48.5%22.2%82.4%59.2%18.5%56.2%9.1%

Market definition

Definition of the Medical Products market within the Care Products market

Market definition: Care Products > Health Care > Medical Products The category Medical Products includes the online trade of medical supplies (e.g. mobility aids, orthopedic supports) and family planning (e.g. contraceptives, fertility and ovulation tracking). This category does not cover pharmaceuticals. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Medical supplies (e.g. mobility aids, orthopedic supports)
  • Family planning (e.g. contraceptives, fertility and ovulation tracking)

Out-of-scope

  • Pharmaceuticals

Market comparison

The Panamanian Medical Products market in a global comparison

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

in %

Source: ECDB analysis