Rising incidence of skin diseases in Colombia towards the end of the review period including atopic dermatitis, which is a chronic and inflammatory skin condition, had heightened awareness of the need amongst consumers to address these issues. When faced with a more chronic condition such as atopic dermatitis, many Colombians will initially visit a specialist such as a dermatologist rather than attempt to treat this themselves by purchasing OTC products.
Some areas of dermatologicals experienced an upturn in demand, especially where consumers are more confident in self-medicating if the issue is recurring and they have already received guidance on an appropriate treatment, resulting in medicated shampoos continuing to record strong demand in 2020. While there was heightened awareness of the need to observe greater hygiene routines to prevent the spread of the virus such as frequent handwashing using antibacterial soap for instance, there was still an upturn in demand for healing products such as topical antifungals and topical germicidals/antiseptics as Colombians were more concerned about rapidly and efficiently treating cuts and wounds to reduce infection during the pandemic.
Genomma Lab Colombia Ltda strengthened its convincing leadership of dermatologicals in 2020, with its popular brand Medicasp overtaking former leader Canesten from Bayer. Genomma Lab continued to run strong advertising campaigns, increasingly tapping into the social media channel, whilst offering competitive prices which appealed to increasingly price-sensitive consumers during the pandemic.
Overall value growth (at constant 2020 prices) is predicted to remain undynamic with falling demand for a number of dermatologicals as consumers resume appointments with specialists rather than self-medicate for more serious issues. Nevertheless, topical germicidals/antiseptics and medicated shampoos are predicted to record the strongest performances in volume terms as consumers feel more confident in self-medicating with these products to address minor ailments.
For local player Laboratorios Siegfried SA, dermatologicals has lost priority in its product portfolio, with its brand Hipoglós (which it locally represents for Mega Labs SA) continuing to decline in 2020. However, Laboratorios Siegfried is implementing a strategy whereby it is launching products alongside advertising campaigns which address issues caused by prolonged exposure to blue light emitted by computer screens, tablets, and smartphones, an issue that has been exacerbated by the home seclusion trend.
While herbal/traditional dermatologicals continued to hold marginal value share compared to standard variants at the end of the review period, increasing health and wellbeing trends amongst some consumers could drive further demand over the forecast period. This interest can also directed towards players, which are gradually implementing the use of biodegradable formulations that seek to reduce chemical residue and are certified by the Environmental Protection Agency.
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Understand the latest market trends and future growth opportunities for the Medicated Skin Care industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Medicated Skin Care industry in Colombia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Medicated Skin Care research and analysis database.
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