Wound care in Colombia is a mature category which had been experiencing an undynamic performance prior to the emergence of the pandemic, as many local consumers traditionally tend to purchase these products when they are needed rather than stocking up on the products at home due to the easy availability through both health and beauty specialist retailers and grocery retailers.
More sedentary lifestyles already emerging in Colombia accompanied by long hours of telework and reduced exercise continued into 2020, with many consumers working from home during the lockdown. Limited activity can result in skin ulcers, increasing the need for products relating to wound healing and more intensive care.
Tecnoquímicas SA strengthened its leadership of wound care in 2020, followed at some distance by BSN Medical Ltda (Leukoplast) and 3M Colombia SA (Nexcare), the only other players to hold double-digit value share in the category. Tecnoquímicas continues to rely on the strength of its leading brand Cure Band, which enjoys consumer loyalty and awareness due to its strong distribution network, which has resulted in Cure Band having a nationwide presence.
Demand for wound care is predicted to gradually return to greater levels of normalisation over the forecast period in terms of consumer purchasing behaviour, with many Colombians likely to have built up sufficient stock during 2020. Moving forward, they are likely to return to purchasing wound care as and when needed.
Nanoblast, a Mexican start-up company, is seen as a potential competitor that plans to enter Colombian wound care, offering specific solutions by addressing chronic ulcers, especially in those consumers who suffer from diabetes or struggle with ongoing skin sores. The brand has created a range of wound care including dressings based on the use of agave, known for its anti-inflammatory and pain-relieving properties.
Inadequate and illegal use of fireworks in Colombia at times of celebration has traditionally increased the number of accidents resulting in burns, supporting demand for wound care. The use of sparklers, flyers, volcanoes, rockets and flare lights had continued to increase prior to the pandemic.
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Understand the latest market trends and future growth opportunities for the Wound Treatments industry in Colombia 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 Colombia, 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.
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