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Learn moreJan 2021
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The emergence of the pandemic in Colombia and subsequent lockdown by the government in an attempt to control the spread of the virus resulted in rising unemployment and decreasing disposable incomes, and led to many local consumers prioritising their spending on essential purchases, including groceries and medicines. Consumer health therefore, experienced notable current value growth in 2020, with some stockpiling tendencies shown by many Colombians during the initial stages of the pandemic.
Colombia established a total lockdown from 23 March until 28 April 2020, after which several sectors including construction and manufacturing were allowed to open under strict biosafety procedures to gradually restart the economy. After 11 May, more local level shops and banks could open, as well as people being allowed to go out to exercise for half an hour each day.
GlaxoSmithKline remained the clear leader of consumer health in 2020, and the only player to hold double-digit value share following its merger with Pfizer, enabling it to offer a wide product portfolio of products across much of the market, with established and trusted names amongst Colombians. Nevertheless, it lost some value share to domestic company Tecnoquímicas, ranked second, where it benefits from well-known products, mass media campaigns and lower prices, a relevant factor with rising price sensitivity amongst local consumers.
Chemists/pharmacies remained the dominant distribution channel for consumer health in 2020, with these retailers deemed essential and therefore permitted to continue trading during the lockdown. In addition to a nationwide presence, the channel was already evolving in line with increasing demand for greater convenience and flexibility by expanding their online presence to increase the ease and frequency of delivered orders.
Many consumers are likely to limit their frequency in terms of replenishing stock of consumer health products heading into the forecast period due to sufficient supplies from 2020 and ongoing price sensitivity, thereby reducing stockpiling tendencies. Therefore, value growth (at constant 2020 prices) is predicted to gradually slow from 2021 onwards, eventually returning to greater levels of normalisation towards 2025.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Consumer Health industry in Colombia 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 Consumer Health industry in Colombia, our research will save you time and money while empowering you to make informed, profitable decisions.
When you purchase this report, you also get the data and the content from these category reports in Colombia for free:
The Consumer Health in Colombia market research report includes:
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This industry report originates from Passport, our Consumer Health market research database.
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.