Myanmar Medical Market - Global Sales Mentor | Zach Selch

25 Apr 2020 · 2 min

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2:22

In this brief segment, Zach Selch outlines the current state and future potential of Myanmar’s medical market. He notes the country’s population of roughly 51 million, its historical isolation, and a low GDP of about $300 billion (≈$6 k per capita) with over 25 % living in poverty. Despite these challenges, the economy is growing at 7‑8 % annually, offering a trajectory toward levels seen in Indonesia. The workforce is solid, but existing medical equipment is largely outdated, sourced from China and Pakistan. This creates a clear opening for basic, entry‑level American, German, and Israeli medical devices and pharmaceuticals. Additionally, the massive refugee situation along the Bangladesh border generates heightened demand for communicable‑disease‑related health solutions. While the population currently enjoys a relatively healthy lifestyle and has not yet faced widespread lifestyle diseases, an aging demographic will eventually increase demand for more advanced care. Selch concludes with a call to action for companies seeking to expand international sales, offering assistance.

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In terms of the market of Myanmar, Myanmar is about 50 million people, a little bit more than that, about 51 million people. And it's been closed off from the world because of the political situation here for decades. So they have really nothing. Everything is older Chinese and Pakistani stuff. And they really need to rebuild. Now, the GDP is very low, in the neighborhood of $300 billion, maybe about $6K per capita. On the other hand, about more than 25% of the population live in poverty. On the other hand, it's growing at 7 or 8% a year. There's no reason why they can't grow over the next few years to the same levels as places maybe like Indonesia. They don't have the same extraction resources, but they have a good solid workforce. They could do it and build up with industry and that kind of thing. So, so there are opportunities here in Myanmar, especially to get in at the bottom, at the, at the lower levels. They're not looking for the most sophisticated stuff now. They can't The stuff they have now is extremely primitive. So basic entry-level products, the basic models of American and German and Israeli products could go very well here. Now there's another issue in Myanmar is they have the whole issue with refugees at this point. There are millions of refugees on the border with Bangladesh and refugees, displaced In the first place, people cause communicable diseases, they cause other problems. So these type of things are opportunities, unfortunately, for some medical equipment companies and some pharmaceutical companies. In terms of lifestyle, people here live very healthily. They still haven't gotten the lifestyle diseases that you might get in some other Asian countries as prosperity builds, but you have an aging population. Remember, when you're ready to grow your international sales, reach out to us. We can help.
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