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 OTC Drugs market in Panama

The Panamanian OTC Drugs eCommerce market is predicted to reach US$2.9 million by 2024 and accounts for 26.0% of the Pharmaceuticals 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 11.6%, resulting in a projected market volume of US$4.5 million by 2028. The OTC Drugs eCommerce market is a sub-market of the Pharmaceuticals market. Further categories within the Pharmaceuticals market are: Other Pharmaceuticals, and Prescription Drugs.

eCommerce revenue development in the OTC Drugs 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 OTC Drugs 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

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)13.395.626.653.772.342.64.994.8

Online share

eCommerce online share of the total OTC Drugs 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 OTC Drugs retail market, the online share is 5.6% and will increase by an average of 10.7% to 8.5% by 2028.

eCommerce online share of the total OTC Drugs market in Panama

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)34.9%41.4%54.8%67.9%91.2%43.5%99.4%73.2%

Market definition

Definition of the OTC Drugs market within the Care Products market

Market definition: Care Products > Health Care > Pharmaceuticals > OTC Drugs The category OTC Drugs includes the online trade of over-the-counter (otc) pharmaceuticals (e.g. pain relievers, cold and flu remedies, allergy medications). This category does not cover perscription pharmaceuticals. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Over-the-Counter (OTC) pharmaceuticals (e.g. pain relievers, cold and flu remedies, allergy medications)

Out-of-scope

  • Perscription pharmaceuticals

Market comparison

The Panamanian OTC Drugs market in a global comparison

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

in %

Source: ECDB analysis