Dermatologicals is only expected to see a marginally higher current value growth rate in 2020 than was seen in the previous year. Demand for dermatologicals such as topical germicidals/antiseptics, topical allergy remedies/antihistamines and topical antifungals increased during the stockpiling behaviour seen in Australia when the COVID-19 virus emerged in the country in March.
The only dermatologicals category expected to see current value decline in 2020 is antiparasitics/lice (head and body) treatments. This can partly be expected by the temporary closure of schools, which is leading to fewer outbreaks of lice.
Multinationals are expected to continue to account for the majority of sales of dermatologicals in 2020, with Sanofi-Aventis Australia, Johnson & Johnson Pacific, Bayer Australia and GSK Consumer Healthcare remaining the four leading players in the category and expected to increase their combined value share. They benefit from the global scale of their operations, which gives them excellent economies of scale, whilst they have wide support for their well-known brands, which are highly popular amongst Australian consumers.
In the forecast period, dermatologicals is expected to maintain similar stable current value growth to that seen in the 2020, as little overall impact is expected from COVID-19. The ageing of the Australian population is expected to remain a key driver of sales growth in dermatologicals, supporting growth in categories which treat ailments commonly experienced by older people.
However, the growth of dermatologicals during the forecast period is likely to be largely dependent on the level of innovation that manufacturers can bring to this very mature category. For instance, May 2019 saw listed company Wellness and Beauty Solutions launch nailKALM Dermaceutical Lotion.
Although private label accounted for a minimal share in dermatologicals at the end of the review period, with consumers tending to be more trusting of well-established and branded products, new private label lines entered the market towards the end of the review period, including Arrow Pharmaceuticals’s Chemists’ Own Favic line in cold sore treatments. With others following its lead, an increase in the share of private label is expected in the next five years, providing some competition to the dominant multinationals.
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