New Report Available: Wound Care in Dominican Republic

From: Fast Market Research, Inc.
Published: Mon Apr 27 2015

During 2013, the economic downturn slowed growth in wound care. Consumers reeled in spending on products viewed as "non-essential", focusing instead on those items most required for subsistence. Although wound care grew marginally faster in 2014 than the previous year, consumers remained uncertain about the strength of the economic recovery through most of the year. Spending in wound care during the year did not reach the vitality characterising the growth rates experienced over the review period prior to 2013.

Competitive Landscape

Competition within wound care remained largely concentrated among the top three brands which collectively accounted for 60% current value share during 2014. Hansaplast, by Beiersdorf Centro América SA, remained as the leading brand, capturing 32% value share. However, generic would care continued to grow value share and represented 25% value share in 2014. Consumer predilection towards pricing value combined with the perception of wound care as a secondary health care consideration provided generics with conditioned advantages over standard brands. The major retail channels for wound care are concerned with driving sales revenue and played a key role in expanding generics (and private label) through product placement and shelf space presence. Over the review period, generic wound care recorded a strong 10% current value CAGR.

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Industry Prospects

Parapharmacies/drugstores accounted for 64% value share of wound care during 2014 and will continue to represent the dominant retail channel for wound care over the forecast period. Drugstore chains in the Dominican Republic, like Farmacia Carol, Farmax and Farmacia Los Hidalgos, among others, carry the major wound care brands but have demonstrated a propensity to promote private label and generic wound care. Chemists/pharmacies, most closely associated with the neighbourhood pharmacy where the residing pharmacist maintains close relationships as a trusted source for health care solutions, comprised 28% value share in 2014. These outlets typically promote branded products, with lower priced private label and generics positioned as an alternative as a price concession. Modern grocery retailers, including hypermarkets and supermarkets, combined to account for 7% share of in current value sales of wound care and sell standard brands along with the promotion of private label and generics. The split in value sales between these channels is not expected to be materially altered over the forecast period. Within this retail environment, wound care is expected to achieve a 3% value CAGR at constant 2014 prices over the forecast period. Strategically, it is incumbent upon standard brands to determine how best to compete within this environment given the tactical advantages afforded to private label and generics.

Report Overview

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