Bangladesh healthcare market to reach $23b by 2033, experts seek investments
Experts at a panel discussion during the Bangladesh Investment Summit 2025 on Thursday encouraged investors to capitalise on the robust growth of Bangladesh’s healthcare sector.
They projected that the market volume of the country’s health sector would reach $23 billion by 2033, driven by increasing demand for medical consumables, advanced diagnostic tools, and expanding healthcare infrastructure.
The discussion took place during a session titled “Unlocking Healthcare Investment Potential in Bangladesh” at a hotel in Dhaka. The session was chaired by Md Saidur Rahman, Secretary of the Health Services Division, while Sylvana Quader Sinha, Founder, Chair, and CEO of Praava Health, delivered the keynote speech.
A growing market with immense potential
In his address, Md Saidur Rahman highlighted the remarkable growth of Bangladesh’s health sector, emphasising its potential as an attractive destination for investment.
"It is projected that the market volume of the country's health sector will reach $23 billion by 2033. This clearly indicates the immense potential for investors in this sector," he said.
Sylvana Quader Sinha echoed this sentiment, noting that the medical equipment and devices market alone is expected to grow to $3 billion by 2030. She attributed this growth to rising demand for medical consumables and advanced diagnostic tools, alongside the sector’s heavy reliance on imports.
Opportunities for local manufacturing
Sinha pointed out that the heavy dependence on imported medical devices presents a significant opportunity for local manufacturing. As Bangladesh strives for self-sufficiency in producing critical healthcare products, investments in manufacturing units for essential medical consumables – such as in vitro diagnostic test kits and low-risk health monitoring devices – are highly promising.
She also highlighted the potential of leveraging the B2C (business-to-consumer) model to meet the growing demand for consumables.
Additionally, as healthcare complexity increases, the demand for operating theatre (OT) support and ICU equipment is rising, making these segments lucrative for investment with high returns.
Healthcare: A key economic driver
Sylvana emphasised that healthcare has become one of the largest sectors of Bangladesh’s economy, growing at a compound annual growth rate (CAGR) of 10.3% since 2010 and directly employing nearly 0.3 million people. Several factors are driving this growth, including: An aging population, a growing middle and affluent class, and rising prevalence of non-communicable diseases.
She said the healthcare industry comprises five key subsectors: Healthcare facilities, pharmaceuticals, medical equipment and devices, digital Healthcare, and medical biotechnology.
Expansion of healthcare facilities
Sinha noted that private hospitals, clinics, and diagnostic centres are experiencing strong growth, supported by public-private partnerships (PPP) and government incentives. Policies such as tax exemptions for private hospitals outside major cities make the sector attractive to both local and foreign investors.
The ongoing need for tertiary and specialised healthcare services in urban areas, coupled with the demand for primary healthcare in rural regions, further enhances the sector’s growth potential.
Pharmaceutical sector: An emerging market
The pharmaceutical sector, recognised as a Pharmerging Market, is projected to reach $6 billion by 2025, growing at a CAGR of 12%. Bangladesh is renowned for its production of branded generics, particularly in gastrointestinal, antibiotic, and antipyretic therapies, which meet nearly all domestic demand.
Digital transformation in healthcare
Since the Covid-19 pandemic, digital health has emerged as a key area of innovation, fuelled by the tech-savvy youth population increasingly adopting digital solutions for healthcare access.
The government’s Digital Healthcare Strategy 2023–2027 aims to integrate digital tools such as cloud-based Electronic Health Records (EHRs) and telehealth platforms to improve healthcare delivery and reduce costs.
This transition opens investment opportunities in cloud-based services, interoperable health systems, and remote patient monitoring.
Partnerships for growth
Sylvana stressed the importance of partnerships with foreign tech companies to develop disease management solutions and drive innovations in healthcare technology. Such collaborations will play a crucial role in advancing the sector and ensuring sustainable growth.
