FACTS OF BANGLADESHíS MEDICAL INDUSTRY

The medical equipment and devices industry is currently at a nascent stage with 85 percent of devices being imported. The size of Bangladesh market was estimated to be valued at USD 442 million in June 2020 and is expected to reach approximately USD 820 million in 2025, growing at a CAGR of 13%. The market currently is dominated by the instruments/ appliances segment and diagnostic imaging equipment in terms of value, which are expected to grow steadily.

At present, over 4,000 medical devices and equipment are in use in the country, about 5-7% of which are manufactured in the country. Among the locally produced items, majority are consumables/disposable with an estimated market size of USD 55-60 million. Aside from consumables, Bangladesh also produces orthopedic products, surgical sterilizers, hospital furniture, home care devices, electrocardiograms and other small instruments, albeit at a small scale. The demand for IVD device/kit is expected to be the fastest growing segment, followed by cardio logical devices, consumables and diagnostic imaging equipment. The COVID outbreak has enhanced local production of personal protection equipment (PPE) including protective masks/ clothing, respirator, hospital gowns.