As a result of the rumours about the negative impact of ibuprofen on consumers with COVID-19, sales of ibuprofen will see a significant drop in 2020. This comes on top of a slow year for ibuprofen sales in 2019, when DIGEMID warned against the use of ibuprofen, as it was believed that it could result in serious infectious complications.
GSK Consumer Healthcare’s Panadol continued to be the most popular brand in analgesics in 2020, benefiting from the company running continuous media advertisements for this product line. Despite facing strong competition from generics, Panadol is a recognised brand with a good reputation.
Levels of self-medication remain high in Peru, with very few Peruvians opting to not self-medicate. Analgesics, cold remedies and anti-inflammatories were the most used products in self-medication.
Brand loyalty is particularly strong in analgesics compared with other consumer health products, with many customers repeatedly purchasing trusted brands rather than shopping around based on price or promotional offers. Therefore, it will be important for companies to establish strong connections with their consumer base into the forecast period, with interactive marketing channels such as social media crucial for developing engagement and nurturing consumer loyalty.
Pharmacy chains are expected to push the sales of their own private label lines in analgesics into the forecast period, to the detriment of international brands. Private label analgesics are cheaper than branded products, directly affecting the latter’s sales.
There are moves in Peru to change the way generics are sold. Firstly, there are plans for a regulation for pharmacies to stock a minimum level of generic drugs in their outlets, which would have a positive effect on the already strong sales of generics in analgesics.
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Understand the latest market trends and future growth opportunities for the Analgesics industry in Peru with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Analgesics research and analysis database.
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