Executive Summary

Feb 2019
PROSPECTS
Volume sales of systemic analgesics dominate in 2018

In Venezuela, systemic analgesics are positioned as products for light and moderate pain and general discomfort. Acetaminophen is commonly positioned as appropriate to treat mild fever and often advertised as “safe” for dengue cases because other common analgesics, such as ibuprofen and aspirin, increase the severity of the symptoms when used for the haemorrhagic variant due to the potential for increased bleeding.

Lower incidence of viral infections affects sales of acetaminophen

Adult acetaminophen exhibits the worst results in value terms due to larger volume losses in combination with low unit prices. A lower incidence of infectious diseases such as dengue fever, chikungunya fever and the zika virus, whose symptoms can be reduced only by the use of this analgesic, can also explain the disappointing performance.

COMPETITIVE LANDSCAPE
Two domestic companies lead analgesics

Multinationals were no longer dominating analgesics in Venezuela in 2018. Two domestic companies, Laboratorios Ponce CA and Laboratorios Elmor, now lead analgesics, the former thanks to a clear dominance in topical analgesics/ anaesthetic with two important brands, Dencorub and Dencofen, thanks to the exit of Voltarén, manufactured by Novartis de Venezuela, which used to dominate topical analgesics/ anaesthetic.

Two multinationals follow at a distance

Multinational companies occupy the third and fifth places in analgesics. Pfizer de Venezuela SA remains present with only one product, its bestselling product Atamel, which is the absolute leader in adult acetaminophen.

Unstable presence of generics limits positive performance

In adult combination products, Laboratorios Leti SA – a domestic company – holds an important share with its Migren brand, positioned towards the lessening of migraine symptoms, and also with Asaprol, its brand of aspirin that carries a very competitive price. Other competitors in aspirin include Laboratorios Oftalmi CA and Zuoz Pharma, with their brands Azacard and Cardipirina, respectively, positioned for heart health.

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Analgesics in Venezuela

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Overview

Discover the latest market trends and uncover sources of future market growth for the Analgesics industry in Venezuela 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 Analgesics industry in Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.

The Analgesics in Venezuela 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
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Analgesics in Venezuela?
  • What are the major brands in Venezuela?
  • Are combination products with acetaminophen still popular?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Consumer Health market research database.

Analgesics in Venezuela - Category analysis

HEADLINES

PROSPECTS

Volume sales of systemic analgesics dominate in 2018
Lower incidence of viral infections affects sales of acetaminophen

COMPETITIVE LANDSCAPE

Two domestic companies lead analgesics
Two multinationals follow at a distance
Unstable presence of generics limits positive performance

CATEGORY DATA

Table 1 Sales of Analgesics by Category: Value 2013-2018
Table 2 Sales of Analgesics by Category: % Value Growth 2013-2018
Table 3 Sales of Topical Analgesics/Anaesthetic by Format: % Value 2013-2018
Table 4 NBO Company Shares of Analgesics: % Value 2014-2018
Table 5 LBN Brand Shares of Analgesics: % Value 2015-2018
Table 6 Forecast Sales of Analgesics by Category: Value 2018-2023
Table 7 Forecast Sales of Analgesics by Category: % Value Growth 2018-2023

Consumer Health in Venezuela - Industry Overview

EXECUTIVE SUMMARY

Hyperinflation worsens an already critical situation
Negative growth rates continue in spite of a slightly better supply
Oligopolistic competition characterises the Venezuelan market in 2018
Drugstores/parapharmacies lead retail distribution
Future performance hinges on macroeconomic and industrial policies

MARKET INDICATORS

Table 8 Consumer Expenditure on Health Goods and Medical Services: Value 2013-2018
Table 9 Life Expectancy at Birth 2013-2018

MARKET DATA

Table 10 Sales of Consumer Health by Category: Value 2013-2018
Table 11 Sales of Consumer Health by Category: % Value Growth 2013-2018
Table 12 NBO Company Shares of Consumer Health: % Value 2014-2018
Table 13 LBN Brand Shares of Consumer Health: % Value 2015-2018
Table 14 Distribution of Consumer Health by Format: % Value 2013-2018
Table 15 Distribution of Consumer Health by Format and Category: % Value 2018
Table 16 Forecast Sales of Consumer Health by Category: Value 2018-2023
Table 17 Forecast Sales of Consumer Health by Category: % Value Growth 2018-2023

APPENDIX

OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches

SOURCES

Summary 1 Research Sources