OTC Healthcare in Venezuela
Euromonitor International's OTC Healthcare in Venezuela market report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they new product developments, packaging innovations, economic/lifestyle influences, distribution or pricing issues. Forecasts illustrate how the market is set to change.
Buy online to access strategic market analysis and an interactive statistical database of volume and value market sizes, company and brand shares, distribution and pricing data.
Tables: 86 | Publication date: Feb 2008
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive environment
Product coverage
Adult mouthcare; Allergy care; Analgesics; Calming and sleeping products; Child-specific OTC healthcare; Cough; cold and allergy (hay fever) remedies; Digestive remedies; Ear care; Emergency contraception; Eye care; Medicated skin care; NRT Smoking cessation aids; OTC obesity; OTC statins; OTC triptans; Vitamins and dietary supplements; Wound treatments
Executive summary
Improved purchasing power drives healthy growth in the OTC industry
2006 was a good year for the Venezuelan OTC industry due to higher consumer demand, which was spurred by overall improvements to the Venezuelan economy. Increasing oil revenues has allowed the government to invest more resources into social programs, improving the purchasing powering of lower-income consumers and thereby increasing demand across most consumer goods industries, including over-the-counter healthcare. Historically, most OTC healthcare products were too expensive for the majority of the Venezuelan population; however, with improved purchasing power new consumers are entering the market, driving sales.
Vitamins and dietary supplements account for more than half of total OTC value sales
The largest sector of the Venezuelan OTC healthcare market is vitamins and dietary supplements, accounting for 55% of value sales in 2006. Illustrating its dominance, the next largest sector was cough, cold and allergy (hay fever) remedies with less than 19% of total sales. Venezuelans are somewhat wary of taking OTC products because of a lack of information about side effects and drug interactions, but vitamins and dietary supplements do not suffer from this because they are mostly perceived as being risk-free and helpful for avoiding illness. The sector was further boosted in 2006 by additional point-of-sale promotions, increased consumer knowledge about health prevention, and strong advertising campaigns from manufacturers.
NRT Smoking cessation aids registers the largest value growth in 2006
The largest growth in current value terms belonged to NRT smoking cessation aids in 2006. Much of this growth was due to the sector’s relatively small presence within the overall OTC industry (in fact, it was the smallest sector with only a marginal proportion of market value sales); however, increased activity from the sector’s only participant, Pfizer, was also responsible for the impressive performance. The company focused on increasing consumer awareness of the product, especially in adult groups dedicated to quitting smoking. Moreover, lack of competition also allowed Pfizer to increase prices, which also boosted value sales.
Industry participation is distributed among numerous players with Bayer SA in the lead
In Venezuela, most OTC companies tend to specialise in a specific OTC niche. Only a few attack the market with a broad strategy, including industry leader Bayer SA, causing participation to be rather fragmented when compared to other consumer goods markets. As a result, Bayer SA only leads with a relatively small share of total value sales, despite participating in five different sectors of OTC healthcare. The company markets very successful brands, such as Aspirina Bayer, Alka-Seltzer, Canestén and Supradyn, making it one of the most recognisable companies on the market. Grupo Farma SA closely follows Bayer, also taking a broader approach to the market.
Optimistic forecast for the OTC industry
The OTC industry is expected to maintain its healthy growth over the forecast period, as it continues to mature and develop. Medium-term predictions for the Venezuelan economy are positive even though they are mostly based on high oil prices. Along with positive economic conditions, manufacturers are likely to continue investing in advertising campaigns that focus on educating consumers about the benefits of using OTC products in order to dispel any negative myths about them. Moreover, manufacturers are expected to develop immature sectors as consumer demand continues to rise.
Table of contents
OTC HEALTHCARE IN VENEZUELA : MARKET INSIGHT
EXECUTIVE SUMMARY
Improved purchasing power drives healthy growth in the OTC industry
Vitamins and dietary supplements account for more than half of total OTC value sales
NRT Smoking cessation aids registers the largest value growth in 2006
Industry participation is distributed among numerous players with Bayer SA in the lead
Optimistic forecast for the OTC industry
KEY TRENDS AND DEVELOPMENTS
High oil prices and government economic policy boost consumer purchasing power
Price regulations generate distortions in the market
Changes in the retailing landscape facilitate OTC purchases
Concerns for health and wellness drive OTC sales
Consumers increase their confidence in private label products
MARKET INDICATORS
Table 1 Life Expectancy at Birth 2001-2006
MARKET DATA
Table 2 Sales of OTC Healthcare by Sector: Value 2001-2006
Table 3 Sales of OTC Healthcare by Sector: % Value Growth 2001-2006
Table 4 OTC Healthcare Company Shares by Retail Value 2002-2006
Table 5 OTC Healthcare Brand Shares by Retail Value 2003-2006
Table 6 Sales of OTC Healthcare by Distribution Format: % Analysis 2001/2006
Table 7 Sales of OTC Healthcare by Sector and Distribution Format: % Analysis 2006
Table 8 Forecast Sales of OTC Healthcare by Sector: Value 2006-2011
Table 9 Forecast Sales of OTC Healthcare by Sector: % Value Growth 2006-2011
APPENDIX
OTC Registration and Classification
Vitamins & Dietary Supplements Registration and Classification
Private Label Products
Consumer Expenditure on Health Goods and Medical Services
Table 10 Consumer Expenditure on Health Goods and Medical Services 2001-2006
DEFINITIONS
Sources
Summary 1 Research Sources
LOCAL COMPANY PROFILES - VENEZUELA
KONSUMA DE VENEZUELA SA - OTC HEALTHCARE - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 2 Konsuma de Venezuela SA: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 3 Konsuma de Venezuela SA: Competitive Position 2006
LABORATORIOS ELMOR SA - OTC HEALTHCARE - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 4 Laboratorios Elmor SA: Key Facts
Summary 5 Laboratorios Elmor SA: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 6 Laboratorios Elmor SA: Competitive Position 2006
LABORATORIOS GENVEN SA - OTC HEALTHCARE - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 7 Laboratorios Genven SA: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 8 Laboratorios Genven SA: Competitive Position 2006
LABORATORIOS VARGAS SA - OTC HEALTHCARE - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 9 Vargas CA: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 10 Vargas CA: Competitive Position 2006
REP NO HAGAS DIETA OLALDE CA - OTC HEALTHCARE - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 11 Rep No Hagas Dieta Olalde CA: Key Facts
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 12 Rep No Hagas Dieta Olalde CA: Competitive Position 2006
ANALGESICS IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 11 Sales of Analgesics by Subsector: Value 2001-2006
Table 12 Sales of Analgesics by Subsector: % Value Growth 2001-2006
Table 13 Herbal vs Standard Topical Analgesics 2001/2006
Table 14 Analgesics Company Shares by Retail Value 2002-2006
Table 15 Analgesics Brand Shares by Retail Value 2003-2006
Table 16 Forecast Sales of Analgesics by Subsector: Value 2006-2011
Table 17 Forecast Sales of Analgesics by Subsector: % Value Growth 2006-2011
COUGH, COLD AND ALLERGY (HAY FEVER) REMEDIES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 18 Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Subsector: Value 2001-2006
Table 19 Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Subsector: % Value Growth 2001-2006
Table 20 Sales of Decongestants by Type: Value 2001-2006
Table 21 Sales of Decongestants by Type: % Value Growth 2001-2006
Table 22 Sales of Child-specific Cough, Cold and Allergy (Hay Fever) Remedies by Type: Value 2001-2006
Table 23 Sales of Child-specific Cough, Cold and Allergy (Hay Fever) Remedies by Type: % Value Growth 2001-2006
Table 24 Herbal vs Standard Cough, Cold and Allergy (Hay Fever) Remedies 2001/2006
Table 25 Cough, Cold and Allergy (Hay Fever) Remedies Company Shares by Retail Value 2002-2006
Table 26 Cough, Cold and Allergy (Hay Fever) Remedies Brand Shares by Retail Value 2003-2006
Table 27 Forecast Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Subsector: Value 2006-2011
Table 28 Forecast Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Subsector: % Value Growth 2006-2011
DIGESTIVE REMEDIES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 29 Sales of Digestive Remedies by Subsector: Value 2001-2006
Table 30 Sales of Digestive Remedies by Subsector: % Value Growth 2001-2006
Table 31 Herbal vs Standard Digestive Remedies 2001/2006
Table 32 Digestive Remedies Company Shares by Retail Value 2002-2006
Table 33 Digestive Remedies Brand Shares by Retail Value 2003-2006
Table 34 Forecast Sales of Digestive Remedies by Subsector: Value 2006-2011
Table 35 Forecast Sales of Digestive Remedies by Subsector: % Value Growth 2006-2011
MEDICATED SKIN CARE IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 36 Sales of Medicated Skin Care by Subsector: Value 2001-2006
Table 37 Sales of Medicated Skin Care by Subsector: % Value Growth 2001-2006
Table 38 Herbal vs Standard Medicated Skin Care 2001/2006
Table 39 Medicated Skin Care Company Shares by Retail Value 2002-2006
Table 40 Medicated Skin Care Brand Shares by Retail Value 2003-2006
Table 41 Acne Treatments Brand Shares by Retail Value 2003-2006
Table 42 Forecast Sales of Medicated Skin Care by Subsector: Value 2006-2011
Table 43 Forecast Sales of Medicated Skin Care by Subsector: % Value Growth 2006-2011
VITAMINS AND DIETARY SUPPLEMENTS IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 44 Sales of Vitamins and Dietary Supplements by Subsector: Value 2001-2006
Table 45 Sales of Vitamins and Dietary Supplements by Subsector: % Value Growth 2001-2006
Table 46 Sales of Vitamins by Type: Value 2001-2006
Table 47 Sales of Vitamins by Type: % Value Growth 2001-2006
Table 48 Vitamins and Dietary Supplements Company Shares by Retail Value 2002-2006
Table 49 Vitamins and Dietary Supplements Brand Shares by Retail Value 2003-2006
Table 50 Vitamins Brand Shares by Retail Value 2003-2006
Table 51 Sales of Dietary Supplements by Type: Value 2001-2006
Table 52 Sales of Dietary Supplements by Type: % Value Growth 2001-2006
Table 53 Dietary Supplements Brand Shares by Retail Value 2003-2006
Table 54 Forecast Sales of Vitamins and Dietary Supplements by Subsector: Value 2006-2011
Table 55 Forecast Sales of Vitamins and Dietary Supplements by Subsector: % Value Growth 2006-2011
NRT SMOKING CESSATION AIDS IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR INDICATORS
Table 56 Number of Smokers by Gender 2001-2006
SECTOR DATA
Table 57 Sales of Smoking Cessation Aids by Subsector: Value 2001-2006
Table 58 Sales of Smoking Cessation Aids by Subsector: % Value Growth 2001-2006
Table 59 Smoking Cessation Aids Company Shares by Retail Value 2002-2006
Table 60 Smoking Cessation Aids Brand Shares by Retail Value 2003-2006
Table 61 Forecast Sales of Smoking Cessation Aids by Subsector: Value 2006-2011
Table 62 Forecast Sales of Smoking Cessation Aids by Subsector: % Value Growth 2006-2011
EYE CARE IN VENEZUELA
TRENDS
SECTOR DATA
Table 63 Sales of Eye Care by Subsector: Value 2001-2006
Table 64 Sales of Eye Care by Subsector: % Value Growth 2001-2006
Table 65 Eye Care Company Shares by Retail Value 2002-2006
Table 66 Eye Care Brand Shares by Retail Value 2003-2006
Table 67 Forecast Sales of Eye Care by Subsector: Value 2006-2011
Table 68 Forecast Sales of Eye Care by Subsector: % Value Growth 2006-2011
EAR CARE IN VENEZUELA
TRENDS
ADULT MOUTHCARE IN VENEZUELA
TRENDS
CALMING AND SLEEPING PRODUCTS IN VENEZUELA
TRENDS
WOUND TREATMENTS IN VENEZUELA
TRENDS
SECTOR DATA
Table 69 Sales of Wound Treatments by Subsector: Value 2001-2006
Table 70 Sales of Wound Treatments by Subsector: % Value Growth 2001-2006
Table 71 Wound Treatments Company Shares by Retail Value 2002-2006
Table 72 Wound Treatments Brand Shares by Retail Value 2003-2006
Table 73 Forecast Sales of Wound Treatments by Subsector: Value 2006-2011
Table 74 Forecast Sales of Wound Treatments by Subsector: % Value Growth 2006-2011
EMERGENCY CONTRACEPTION IN VENEZUELA
TRENDS