Spending on consumer health products increased again in 2019, as economic conditions favoured consumer spending. After another year of solid growth in 2018, with the country posting real GDP growth of 7%, the economy was expected to grow by a further 5% in 2019, with inflation also remaining below the Central Bank’s annual target range of 3-5%.
The health and wellness trend continues to become more popular with Dominican consumers, which is, in turn, driving many to adopt healthier lifestyles and habits. These new approaches to health are having an impact on several consumer health categories, including weight management and wellbeing, and certain OTC categories, such as digestive remedies.
The competitive environment in the Dominican Republic’s consumer health market shows a fair amount of variety, depending on the category. While generics remain very strong in consumer health and even hold the biggest value share in some categories, international brands continue to perform very well overall.
Health and beauty specialist retailers remains the most important distribution channel for consumer health products in the Dominican Republic, including drugstores/parapharmacies, chemists/pharmacies and even vitamins and dietary supplements specialist retailers. As of 2019, there were more than 4,000 health and beauty specialist retailers in the country, including some 3,000 drugstores/parapharmacies, and these make an important contribution to the consumer health retail landscape.
Over the forecast period, consumer health is projected to continue to see continued steady current value growth as an industry as well as in all of its categories, albeit with some of the more mature and less innovative areas, such as wound care, seeing slightly slower growth than the industry average. Certain areas are positioned for strong growth over the forecast period, including dietary supplements, sports nutrition and weight management and wellbeing.
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This industry report originates from Passport, our Consumer Health market research database.