Hair loss treatments will remain the leading product area driving retail current value growth in this category in 2020. Despite the fact that this product area does not represent a priority product for many consumers, it is believed that the reason it has not been affected by the economic uncertainty driven by the COVID-19 pandemic is that most consumers buying hair loss treatments are more affluent.
Nizhpharm OAO will continue to lead dermatologicals in 2020 due to the its strong brand presence in Georgia. Its wide product portfolio, which includes Sintomicin, Hydrocortisone, Nystatin and Gentamicin, is spread throughout the whole category and is widely available in most chains of pharmacies.
The local brand Turmanidze is expected to increase its value share in topical antifungals in 2020, enjoying a comfortable position in third place, behind international brands Lamisil and Clotrimazol. The strength of Turmanidze’s position is due to strong consumer loyalty and local trust in the brand thanks to a long presence in the category.
Topical antifungals looks set to drive retail volume growth throughout the forecast period despite a decline in retail volume sales expected in 2020 (which could be related to the decrease in sports participation during lockdown). The product area is expected to maintain momentum throughout the forecast period with the growth rate increasing steadily as the forecast period progresses.
Growing consumer awareness of hair loss treatments and genetic susceptibility to hair loss have supported category sales in 2020 despite the reduction in disposable income in Georgia. Hair loss treatments was an underdeveloped area of dermatologicals in Georgia as low disposable incomes made hair loss a low priority.
The shape of retailing in Georgia is gradually changing, with modern grocery retailers replacing the traditionally dominant non-grocery specialists. Hypermarkets, supermarkets, and convenience stores have tried to widen their assortment and compete with chains of pharmacies wherever possible.
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Understand the latest market trends and future growth opportunities for the Medicated Skin Care industry in Georgia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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