In 2020, dermatologicals is expected to see a similar current value growth rate to the previous year, with COVID-19 expected to have little overall impact. Although the rate of growth saw a very gradual slowdown over the review period, sales continued to rise at a reasonable rate, and this is also expected to be seen in 2020.
At the end of the review period, there was increasing health awareness amongst Vietnamese consumers. This was a result of various actions taken by government.
In 2020, Janssen-Cilag is expected to remain the leader in dermatologicals in value terms thanks to its popular brand Nizoral. This brand is expected to maintain its lead in topical antifungals, and also has a strong position in medicated shampoos with Nizoral shampoo, thanks to dynamic marketing activity and its wide distribution network.
With little impact expected from COVID-19 in 2020, in the forecast period dermatologicals is expected to remain on the same growth path, with continued solid but slightly slowing current value growth rates over the course of the forecast period. This is expected to lead the forecast period current value CAGR to be slightly slower than the review period CAGR.
Haemorrhoid treatments is expected to see the fastest current value growth rate in the forecast period, and is also set to buck the trend in the overall category by seeing a rising rate of growth over the course of the forecast period. Most people suffering from haemorrhoids are aged over 40, and the fast-ageing population is expected to lead to an increase in demand over the forecast period.
Meanwhile, demand for vaginal antifungals is expected to continue to rise, due to a rising number of yeast infections as a result of pollution and the hot weather, as well as broad-spectrum antibiotics and oral contraception. However, this category remains small, as most women still prefer to go to a doctor or hospital for a consultation rather than buying a product at a chemist/pharmacy.
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Understand the latest market trends and future growth opportunities for the Medicated Skin Care industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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