 |
Market Research Report
Consumer Health in Colombia |
||||||
| Published by | Euromonitor International | Product code | 987006 | ||||
| Published | Content info | 111 Pages Delivery time: 1-2 business days |
|||||
| Price |
|
||||||
| Consumer Health in Colombia | ||
| Published: January 28, 2021 | Content info: 111 Pages |
|
The emergence of the pandemic in Colombia and subsequent lockdown by the government in an attempt to control the spread of the virus resulted in rising unemployment and decreasing disposable incomes, and led to many local consumers prioritising their spending on essential purchases, including groceries and medicines. Consumer health therefore, experienced notable current value growth in 2020, with some stockpiling tendencies shown by many Colombians during the initial stages of the pandemic. Thi...
Euromonitor International's Consumer Health in Colombia report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data 2016-2020, allowing you to identify the sectors driving growth. Forecasts to 2025 illustrate how the market is set to change.
Product coverage: Allergy Care, Herbal/Traditional Products, OTC, Paediatric Consumer Health, Sports Nutrition, Vitamins and Dietary Supplements, Weight Management and Wellbeing.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
List OF CONTENTS AND TABLES
EXECUTIVE SUMMARY
COVID-19 impact on consumer health
COVID-19 country impact
Company response
Retailing shift
What next for consumer health?
MARKET INDICATORS
MARKET DATA
APPENDIX
OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches
GLOBAL MACROECONOMIC ENVIRONMENT
GLOBAL INDUSTRY ENVIRONMENT
DISCLAIMER
DEFINITIONS
SOURCES
KEY DATA FINDINGS
2020 IMPACT
Initial media reports strongly influence consumer behaviour in terms of choosing analgesics in 2020
Acetaminophen rises as the more trusted pain reliever, while combination products record more impressive growth
Multinationals struggle with supply chain
RECOVERY AND OPPORTUNITIES
Demand for analgesics will gradually return to normalisation in terms of consumer purchasing patterns over forecast period
Branded analgesics likely to retain preference despite offer of cheaper generics
Marginal improvement for aspirin after declines over the review period
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Stockpiling during initial stages of pandemic boosts 2020 sales
Preventative advertising boosts demand for flu-related products
Smaller players make gains in dynamic categories in 2020
RECOVERY AND OPPORTUNITIES
Increasing self-medication trend to support further demand
Cross-border opportunities gain local players' attention
Ongoing strong growth for antihistamines/allergy remedies driven by pollution and rising cases of seasonal allergies
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Home seclusion reduces demand for number of digestive remedies but stress-related disorders support sales of others
Colombians trust OTC digestive remedies to treat common gastrointestinal symptoms
Tecnoquimicas retains leadership due to strength in largest value category of antacids
RECOVERY AND OPPORTUNITIES
Post-pandemic activity likely to drive increasing demand for digestive remedies
Communication strategies to focus on benefits and health features
Consumer education and preventative solutions could reduce need for digestive remedies in longer term
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Consumers hesitant to self-medicate for serious skin issues without prior consultation with dermatologists, made difficult by pandemic
Upturn in demand for more treatable skin conditions in the home
Leader Genomma Lab continues to expand distribution and marketing for Medicasp
RECOVERY AND OPPORTUNITIES
Undynamic performance predicted but more popular dermatologicals will continue to grow
Consumer education is key to boost preventative solutions
Sustainable solutions to emerge as differentiator amongst players
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Social perception and preventative health supports category's performance
Governmental actions seeks to reduce smoking habits
Johnson & Johnson retains dominance in underdeveloped category
RECOVERY AND OPPORTUNITIES
Undynamic performance with high prices a discouraging factor for low-income smokers
Bayer helps to generate awareness on Aspirina website despite not being present in NRT smoking cessation aids
Vaping is gaining ground in Colombia and could offer indirect competition
CATEGORY INDICATORS
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Pandemic exacerbates sleep disorders amongst Colombian population
Sleep issues a deep-rooted problem in Colombia
Fairly consolidated competitive landscape amongst established players but smaller brands continue to make gains
RECOVERY AND OPPORTUNITIES
Slowing demand despite likelihood of ongoing sleep issues
Herbal/traditional sleep aids dominate category as many consumers attempt to avoid dependency
Alternative solutions to sleep aids increasingly available
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Home seclusion and work from home increase eye stress and fatigue
Reduced ophthalmologist consultations due to COVID-19
Consolidated competitive landscape with Laboratorios Alcon de Colombia strengthening overall leadership
RECOVERY AND OPPORTUNITIES
Number of factors to continue supporting demand for eye care over the forecast period
Efforts to raise awareness of eye care to boost preventative consultations
Longer screen time is boosting complementary products such as blue light spectacles
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Demand for wound care increases as Colombians spend more time at home
Diabetes and other conditions increase preventative and healing wound care demand
Tecnoquimicas strengthens leadership of wound care with wide distribution network
RECOVERY AND OPPORTUNITIES
Demand for wound care set to return to greater levels of normalisation
Wound care could see further expansion with new brands
Use of fireworks also drives demand of wound care in times of celebration
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Pandemic increases awareness of wellbeing and consumer trust in vitamins as complementary solutions
Immunity top of mind amongst consumers during pandemic
Fairly consolidated amongst top three, but competitors gain share
RECOVERY AND OPPORTUNITIES
Prevention will continue to drive sales in early part of the forecast period
E-commerce continues to gradually gain share through competitive prices
Multivitamins will continue to record weaker performance due to increasing competition
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Preventative solutions also sought from dietary supplements in 2020
Probiotic supplements continues to experience strong demand
Direct sellers retain strength despite operational challenges during pandemic
RECOVERY AND OPPORTUNITIES
Ongoing focus on prevention while players look to expand consumer reach via digital strategies to attract younger generations
Omnichannel strategies accelerate, but e-commerce to remain a complementary channel
Local health certification process has potential to slow product development
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Further weight gain during lockdown fuels demand for meal replacement
Illegal market reduces product reliability and consumer trust
Direct sellers continue to strengthen positions despite difficult operating environment
RECOVERY AND OPPORTUNITIES
Pandemic highlights importance of self-care
More balanced longer-term approach to health and wellbeing will slow growth momentum
Digitalisation is here to stay
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Increasing demand for sports nutrition despite closure of gyms in 2020
Online sales drive further demand for fitness enthusiasts
Omnilife regains leadership from Newlab Nutrition
RECOVERY AND OPPORTUNITIES
Digital platforms are key to sustain consumers motivated at home
Store-based operating limitations could limit category's performance
Illegal market could harm further potential of newer products
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Herbal/traditional solutions gain space as less invasive preventative solutions
Herbal/traditional dominates sleep aids but gains momentum within paediatric products
Fragmented competitive environment but leader Halls strengthens leadership due to established consumer trust
RECOVERY AND OPPORTUNITIES
Restrictive environment likely to limit greater expansion of herbal/traditional products
Product traceability is growing concern amongst Colombian consumers
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Trusted paediatric consumer health experience upturn in demand during initial stages of pandemic
Increasing counterfeits and illegal market concern Colombian parents
GlaxoSmithKline strengthens dominance with wide product portfolio
RECOVERY AND OPPORTUNITIES
Fairly stable performance but declining birth rates could restrict stronger growth potential
Stronger focus on prevention will drive stronger demand for paediatric vitamins and dietary supplements in 2021
Consumers' alarm over product classification increases after serious incident
CATEGORY DATA
Consumer Health in South Africa
Competitor Strategies in Consumer Health
Where Consumers Shop for Consumer Health
Consumer Health in Switzerland
Consumer Health in Austria
Consumer Health in Germany
Consumer Health in Argentina
Consumer Health in Vietnam
Consumer Health in Uruguay
Consumer Health in Israel