Experts for investing medical sect, projecting market to reach $23bln by 2033

Experts at a session today urged investors to invest in Bangladesh's medical sector as it is experiencing robust growth.
 
They also projected that the market volume will reach US$ 23 billion by 2033, driven by increasing demand for medical consumables and advanced diagnostic tools. 
 
They made the projection at a session on "Unlocking Healthcare Investment Potential in Bangladesh" of the "Bangladesh Investment Summit 2025" at a hotel in the city.
 
Md. Saidur Rahman, secretary of the Health Services Division, was the speaker of the session while Sylvana Quader Sinha, founder, chair & CEO of Praava Health delivered the keynote speech on "Unlocking Healthcare Investment Potential in Bangladesh".
 
In his speech, Saidur Rahman described the remarkable growth of the country's health sector and urged the investors to invest here.
 
"It's projected that the market volume of the country's health sector will be $23 billion by 2033. It is clear that there are huge potentials for investors of the country's health sector," he added.
 
Sylvana Quader Sinha said the medical equipment and devices market is experiencing robust growth, projected to reach $3 billion by 2030, driven by increasing demand for medical consumables and advanced diagnostic tools.
 
"The sector is heavily reliant on imports, creating a significant opportunity for local manufacturing of medical devices, especially as the country works towards self-sufficiency in producing critical healthcare products. Investment potential exists in establishing manufacturing units for essential medical consumables, like in vitro diagnostic test kits and low-risk health monitoring devices, and leveraging the B2C model to address the rising demand for consumables. As the health complexity increases, the demand for OT support and ICU equipment is also increasing, presenting the sector as a lucrative segment for investment with high returns," she added.
 
The founder of Praava Health said healthcare has become one of the largest sectors of the Bangladeshi economy, in terms of revenue, it has been growing at a CAGR of 10.3 percent since 2010, employing nearly 0.3 million people directly. 
 
"Several factors are driving the growth of the healthcare sector, including an aging population, a growing middle and affluent class, and the rising 
proportion of non-communicable diseases. The healthcare industry of Bangladesh comprises five prime subsectors: Healthcare Facilities, Pharmaceuticals, Medical Equipment and Devices, Digital Healthcare and Medical Biotechnology," she added.
 
Sylvana said the country's healthcare facilities are expanding with private hospitals, clinics, and diagnostic centers showing strong growth. 
 
"Public-private partnerships (PPP) and government incentives are encouraging investments. The sector benefits from policies like tax exemptions for private hospitals outside major cities, making it an attractive market for both local and foreign investors. The ongoing need for tertiary and specialized healthcare services in urban cities and the demand for primary healthcare in rural areas enhance the sector's growth potential, positioning it as a key segment to invest in," she added.
 
She said the pharmaceutical sector, recognized as a Pharmerging Market, is projected to reach US$6 billion in 2025 at a 12 percent compound annual growth rate (CAGR). 
 
The industry is well known for branded generics-particularly in gastrointestinal, antibiotic and antipyretic therapies that quenches nearly all the domestic demand, she added. 
 
Sylvana Quader said digital transformation is further accelerating the growth in the healthcare sector. Since COVID-19, digital health has emerged as a key area of innovation, gaining momentum as the tech-savvy youth population increasingly turns to digital solutions for healthcare access. 
 
The government's Digital Healthcare Strategy 2023-2027 aims to integrate digital tools like cloud-based Electronic Health Records (EHRs) and 
telehealth platforms to enhance healthcare delivery and reduce costs, she continued. 
 
She said this transition presents investment opportunities in cloud-based services, interoperable health systems, and remote patient monitoring.
 
Additionally, partnerships with foreign tech companies for disease management solutions and healthcare technology innovations will be crucial in driving the sector's growth, she added.