COVID-19 caused a spike in demand for analgesics, meaning analgesics is expected to see an even stronger increase in retail current value growth in 2020 when compared to 2019. This is due to the fact that the government in Uruguay initially recommended the use of acetaminophen, rather than ibuprofen in terms of treatment of symptoms for COVID-19.
On the contrary, both adult and paediatric ibuprofen experienced a moderation in demand in 2020. In fact, adult ibuprofen is projected to slightly decline in retail volume terms in 2020.
In 2020, analgesics is led by Spefar SA. The company enjoys success due to its strong market share of Perifar, an ibuprofen, as well as Perifar Crema and Demivis which are both topical analgesics/anaesthetic.
Over the forecast period, e-commerce is expected to gain momentum as a retail channel. While typically sales of analgesics through e-commerce remain very low, in 2020, e-commerce penetration ballooned due to the COVID-19 outbreak, as consumers eagerly gravitated towards online purchases of analgesics to avoid unnecessary in-person shopping trips that could pose health risks.
While ibuprofen is expected to remain the main analgesics used by consumers over the forecast period, acetaminophen is expected to see the strongest current value growth over the forecast period. In 2020, global reports raised concerns about the effectiveness of ibuprofen, under the context of COVID-19, causing many consumers to turn to other analgesics alternatives.
Sales of generic drugs have risen in Uruguay thanks to more rational consumer behaviour, with Uruguayans having started to compare prices and opt for the best deals. This behaviour is expected to intensify over the forecast period, as the economic uncertainty brought by COVID-19 has forced many consumers to become more conscious about their purchasing decisions.
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This report originates from Passport, our Analgesics research and analysis database.
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