Analgesics in Dominican Republic: New research report available at Fast Market Research

Fast Market Research recommends "Analgesics in Dominican Republic" from Euromonitor International, now available

[ClickPress, Tue Apr 28 2015] Despite the economic recovery following sluggish economic growth performance during 2013 in the Dominican Republic, generics continued to outperform the leading brands in 2014. In step with the 2013 economic downturn, generic analgesics grew by 12% for the year and accounted for 26% share of current value analgesics sales. In contrast, the top seven brands grew at a slower rate by an average 7% in 2013. Although consumer confidence returned during 2014, consumers on the whole remained price-conscious, providing an additional boost to growth in generics. The latter grew by 10% in current value terms during 2014, compared to 7% current value growth for the leading brands, and generic analgesics brands captured 27% share of current value sales. However, renewed consumer confidence bolstered the growth performance of the leading brands over all other brands combined (with the exception for generics), which recorded 6% current value growth in 2014, and the top four brands maintained their collective 27% current value share of analgesics. These trends allude to a solidifying dichotomy of consumer segments where one segment shops entirely on price and the other is increasingly brand loyal.

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Competitive Landscape

The competitive landscape for analgesics is cluttered and highly fragmented. Beyond the leading four companies, generics and analgesics produced from all other suppliers combined for 73% share of current value sales in 2014. GlaxoSmithKline Dominicana captured the largest value share among leading companies with 12%. The company’s Winasorb brand commands strong brand recognition and remains highly regarded and trusted among consumers. The distribution of shares among the top four players remained consistent over the review period, with Laboratorios LAM positioned as the second leading manufacturer capturing 7% current value share followed by Bayer Dominicana SA (5% share) and Laboratorios ALFA CxA (2% share). The leading four brands outperformed generics and all others combined, achieving a collective 9% current value CAGR over this period compared to an 8% CAGR when grouping generics with all other (non-leading) brands. Bayer Dominicana showed the strongest growth over the review period, posting a 15% CAGR behind solid growth for its brands Cardioaspirina, Aleve and Bayer Aspirin.

Industry Prospects

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