Dermatologicals is anticipated to respond negatively to the outbreak of COVID-19 in 2020 overall, as current value sales fall noticeably. The main reason for this has been due to the economic backlash of the virus, which has led many Guatemalans to become cautious with their spending.
International player Bayer SA will retain its leading position in 2020. The company benefits from a wide portfolio of highly recognised names.
Although dermatologicals will suffer overall as a consequence of the pandemic, nappy (diaper) rash treatments is anticipated to be the only product area to benefit. Not only will nappy (diaper) rash treatments see the most dynamic growth in 2020, but it will also see noticeably improved growth compared with 2019.
After seeing declining current value sales in 2020, dermatologicals is anticipated to return to growth from as soon as 2021. However, the recovery process will be slow and over the duration of the forecast period, growth rates will not return to what they were prior to the pandemic.
One significant barrier that limits the growth of some product areas is the taboo that surrounds certain issues. For example, marketing campaigns such as haemorrhoids, vaginal infections, dandruff and antiparasitics/lice (head and body) treatments are severely limited due to the potential embarrassment of the condition.
Traditionally, many Guatemalans prefer to use natural ingredients to treat minor conditions, which is likely to continue over the forecast period. In response to the health crisis, more consumers have become concerned with their overall health.
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Understand the latest market trends and future growth opportunities for the Medicated Skin Care industry in Guatemala with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Medicated Skin Care research and analysis database.
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