The growth opportunities for healthcare companies and Market Expansion Services providers in Myanmar are encouraging. According to a study by Rubicon Strategy Group, a recognized leader in market analysis, the Myanmar healthcare market is expected to further open up. Yet challenges like the abundance of counterfeit products and the fragmented point of sales channel however underline the need for companies to work with an experienced and established partner in the country.
The market study by Rubicon Strategy Group provides an extensive market overview based on on-the-ground surveys and interviews with business leaders, consumers and customers (pharmacies, drugstores, hospitals and doctors). Part of Rubicon’s ‘Asia Market Series’, it is the first publication that uncovers the opportunities for healthcare companies to expand to Myanmar.
The country opening up and the ASEAN Economic Community becoming reality in 2015 are expected to spur growth for healthcare companies and Market Expansion Services providers in Myanmar. According to Rubicon’s study, consumer spending on over-the-counter healthcare products is anticipated to grow three-to-four-times in size, from about USD 140 million in 2013 to USD 480 million by 2020.
The research further shows that the medical devices market in Myanmar is anticipated to grow threefold by 2020. Meanwhile, eight out of ten of Myanmar’s consumers are willing to spend more on healthcare products and services if they have access to better options.
The strong overall market growth is partly driven by the vast increase in government spending on pharmaceuticals and medical devices. Specialty products, in particular cardiovascular, diabetes and oncology products are expected to experience high growth rates for the next years.
Challenges to enter the Myanmar healthcare market however remain. Comparing the healthcare systems worldwide, Myanmar was recently ranked 190th and last by the World Health Organization (WHO). Rubicon’s study confirms that collaborating with a local distribution partner is the only viable means of efficiently accessing the market in Myanmar. This is due to Myanmar’s opaque regulatory environment, the abundance of counterfeit products, complex channels to market and the extremely fragmented point of sale network.
Dr. Varun Sethi, DKSH’s General Manager, Business Unit Healthcare in Myanmar, said: “With the opening of Asia’s economy, Myanmar offers great potential for healthcare companies. Companies intending to expand in Myanmar should look for an experienced partner with the knowledge and connections to reach a broad range of channels and consumers. With our 15 years of experience in Myanmar and almost 150 years in Asia, DKSH is well-positioned to help companies explore the opportunities in Myanmar.”
The study results are captured in the 115-page Myanmar healthcare report, which provides an extensive market overview and insights for healthcare companies exploring opportunities in the country. The full report is available online at
About Rubicon Strategy Group
Rubicon Strategy Group is a boutique consulting firm specialized in market access work for emerging economies in the healthcare, biotech and senior care industries. Rubicon has a focus on China and has completed research and market access projects in the pharmaceutical, private hospital, senior housing and home healthcare sectors in China.
DKSH is the leading Market Expansion Services provider with a focus on Asia. As the term “Market Expansion Services” suggests, DKSH helps other companies and brands to grow their business in new or existing markets.
Publicly listed on the SIX Swiss Exchange since March 2012, DKSH is a global company headquartered in Zurich. With 735 business locations in 35 countries – 710 of them in Asia – and 26,700 specialized staff, DKSH generated net sales of CHF 9.6 billion in 2013.
DKSH Business Unit Healthcare is the leading Market Expansion Services provider for healthcare companies seeking to grow their business in Asia. Custom-made offerings comprise registration and market entry studies as well as importation, customs clearance, marketing and sales to physical distribution, invoicing and cash collection. Products available through DKSH Healthcare include ethical pharmaceuticals, consumer health, over-the-counter (OTC), as well as medical devices. With 150 business locations in 14 countries and around 9,050 specialized staff, Business Unit Healthcare serves over 160,000 customers and generated net sales of around CHF 4.3 billion in 2013. (Advertorial)