Retail value sales of wound care products was negatively impacted by the COVID-19 pandemic, as lockdowns measures introduced across Bulgaria to limit the spread of the virus forced consumers to remain indoors and thus limited their ability to engage in activities likely to lead to injuries. This reduction in the amount of outdoor and physical activities consumers could participate in caused sales of wound care products to slow down in 2020 with consumers less exposed to injuries and blisters and therefore less likely to need to purchase products to treat these.
Wound care products in Bulgaria are likely to follow the wider premiumisation trend that has continued to drive current retail value growth in the product area. In particular, affluent urban consumers are becoming more demanding when it comes to wound care and this is supporting stronger demand for more personalised products.
Medica AD will remain a leading player in wound care in Bulgaria in 2020 due to the strong profile of its various brands, including Cytoplast, Sanplast Citofix, Sterimed and Sanplast, as well its generic first aid kits. All of Medica’s brands are highly trusted and the company has established a strong reputation as the leading brand owner in wound care, with its products widely available across numerous distribution channels.
Wound care is slated for positive growth throughout the forecast period, with the product likely to recover from the drop in demand for wound care products as a result of COVID-19. In coming years, consumers are expected to spend more time outdoors and focus more on their physical health as a result of the declines of fitness many consumers have suffered under lockdown restrictions.
As wound care becomes increasingly saturated in Bulgaria, more companies will look to innovative product developments to attract new customers into the forecast period. For example, Medica AD is expected to increasingly focus on value added products, special positioning and innovative materials in coming years.
The premiumisation trend that was apparent in wound care in 2020 will continue to sustain growth in sales of companies and brands with an explicitly high-end positioning into the forecast period, as wound care becomes more polarised. While many consumers facing economic difficulties as a result of the COVID-19 pandemic will be attracted to more affordable, economy products in coming years, more affluent urban dwellers are likely to continue to be prepared to pay more for higher quality products.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Wound Treatments industry in Bulgaria 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 Wound Treatments industry in Bulgaria, 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 Wound Treatments research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page