Consumer health sales recorded stronger growth in 2024 than that seen in 2023 when consumers prioritised spending on essential goods over preventive health. As a result, vitamins and dietary supplements and weight management and wellbeing returned to positive growth.
Although Panama enjoys widespread democratic stability overall and has experienced solid economic growth in recent years, persistent inflationary pressures and increasing economic uncertainty are weighing heavily on Panamanian consumers. Indeed, despite the sustained real GDP growth of recent years, coupled with relatively low unemployment, the country witnessed widespread political unrest in 2023, stemming from the Cobre Panamá, Central America’s copper mine.
Since taking office at the beginning of July 2024, President Mulino has remained focused on the economy and also the issue of migration. One phenomenon that has been affecting the country in recent years is the increased number of arrivals and illegal crossings through the area known as the Darién Gap.
For the most part, more informed and affluent Panamanians tend to purchase most consumer health products due to issues of access and affordability. Those with greater discretionary income tend to reside in urbanised areas of the country and are better educated about health-related issues.
There is a sound road infrastructure in Panama, with the logistics network supporting the distribution of goods. Due to its strategic location, Panama serves as a distribution hub for North and Latin America.
Panama’s healthcare regime is highly formalised and OTC products are heavily regulated. The current law relating to these products is Law 1 of 10 January 2001 On Drugs and Other Products for Human Health.
Vitamins and dietary supplements are not heavily regulated in Panama as they are not considered to be products that present any potential danger to human health. The only statutory requirement is that they must be submitted to the PPDA for approval before being distributed for retail sale and thereafter included in the sanitary product registry.
Consumer health in Panama is expected to see steady growth over the forecast period. Currently, consumer demand is growing for dietary supplements that address specific conditions such as stress and anxiety, along with the ability to focus and concentrate more.
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Understand the latest market trends and future growth opportunities for the Consumer Health industry in Panama with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Consumer Health
It is the aggregation of OTC, Vitamins and Dietary Supplements (VDS), Sports Nutrition, and Weight Management and Wellbeing
See all of our definitionsThis report originates from Passport, our Consumer Health research and analysis database.
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