In 2020, consumption of dermatologicals decreased notably as the economic consequences of the COVID-19 pandemic wreaked havoc on Uruguayans disposable incomes. In such context, many consumers gravitated to more essential consumer health categories, such as vitamins and dietary supplements, to the detriment of dermatologicals.
Topical antifungals accounted for the highest share of value sales of dermatologicals in 2020 and throughout the review period. Uruguayans focus on prevention and hygiene continues to drive sales.
The dermatologicals industry in Uruguay is quite concentrated, with the top 3 companies, Urufarma SA, Roemmers SA, and Bayer SA Uruguay, representing almost half of the current value sales in 2020. Local company Urufarma performed very well in dermatologicals over the review period, allowing it to become the leader by 2019.
After a slower year in 2020, dermatologicals is expected to increase and sustain a higher current value growth rate throughout forecast period. The slow growth in 2020 is mainly attributed to consumers prioritizing other more essential consumer health categories due to the economic uncertainty brought upon by COVID-19.
E-commerce posed increasingly strong competition to drugstores/parapharmacies in 2020, and the channel is expected to continue gaining importance over the forecast period. Internet sales of dermatological initially began to grow in 2019.
Innovative products or those that offer significant value-added benefits will continue to be well-received by consumers who are able and willing to pay their higher prices. For example, antiparasitics/lice (head and body) treatments accounted for the second largest share of value sales in 2020, and it is also set to post a strong current value CAGR over the forecast period.
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