Dermatologicals in Latvia - New Market Report

Dermatologicals continued to post a positive performance in 2015 as a result of Latvian consumers’ preference for self-medicating instead of consulting a doctor because of long waiting times to see a specialist or high prices if help is required immediately. Higher disposable incomes have allowed consumers to invest more money in their personal appearance and also treat minor health issues, investing in more sophisticated products. Doctors are concerned that people still wrongly assess the threats of natural and artificial ultraviolet radiation – a tan is perceived as a positive factor for the body and health, although too frequent visits to solariums or exposing skin to direct sunlight for longer than the suggested time results in serious skin problems.

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Competitive Landscape

Sandoz GmbH was the leading company in dermatologicals with a 20% value share in 2015, which increased over the review period due to the growth of the Exoderil brand, which is the most popular product for treating and preventing mycosis and is priced lower than other equivalent products. Novartis AG, the global brand owner of Sandoz, ranked third in dermatologicals in 2015 with an 11% value share driven by its leading products, topical antifungals brand Lamisil and Fenistil, which increased its advertising activities in the year and became the leading brand in topical allergy remedies/antihistamines. Bayer AG with its Bepanthen brand held a stable second position in dermatologicals at the end of the review period.

Industry Prospects

Dermatologicals is expected to increase over the forecast period for the same reasons observed in 2015. The self-medication trend and growth in disposable incomes, as well as greater awareness of personal appearance and hygiene, will contribute to value sales of dermatologicals. Furthermore, an increasing number of people affected by allergies and eczema will result in more dynamic growth of topical allergy remedies in the forecast period.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Medicated Skin Care industry in Latvia with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Medicated Skin Care industry in Latvia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Medicated Skin Care in Latvia market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares

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