Executive Summary

Oct 2019
PROSPECTS
Low innovation continues with rising demand for more specialised wound care

Low levels of innovation continue to characterise the mature category of wound care in Costa Rica in 2019. Most traditional products continue to target buyers from all segments of the population due to their lack of added-value differentiation.

More specialised and efficient products ensure development in a mature category

Segmentation in terms of occasion of use is gaining further relevance in sticking plasters/adhesive bandages. Waterproof, flexible, athletic, cushioned and child-specific products remain the most relevant differentiated alternatives.

Natural-based products with botanical extracts to develop further, targeting millennials

Products enhanced with botanical extracts are set to open new development opportunities for wound care over the next five years. Botanical extracts with functional therapeutic properties, including lavender, chamomile, tea tree and aloe, are expected to be added to wound care over the forecast period to 2024 to meet the demand for value-added, natural-based options amongst millennial consumers.

COMPETITIVE LANDSCAPE
Major global manufacturers continue to lead due to their product segmentation, affordability and availability

Global players, such as BDF Centroamerica SA and 3M Costa Rica SA, continue to take advantage of the consolidated position and top-of-mind awareness of their international brands (Hansaplast and 3M Nexcare, respectively). Their brands benefit from economy-of-scale savings in terms of manufacturing and distribution.

Local and regional players compete in gauze, tape and other wound care with affordable, available and versatile products

More generic and specialised local and regional gauze, tape and other wound care alternatives also continue to find room in this category. Domestic brands, such as Migasa and Prosam, continue to compete based on their point-of-sale availability and affordable unit prices, addressing the needs of most low- and mid-income segments of the population, offering a broad range of potential uses based on their use versatility.

Additional levels of innovation are expected as manufacturers seek to provide effective and affordable wound care solutions

As consumers age and become challenged by global health epidemics (in particular obesity and diabetes), major global and regional players are anticipated to remain focused on providing more integrated and convenient wound care solutions at an affordable price. Additional specialisation will be apparent across most wound care categories, where major global manufacturers are likely to continue making use of their global flagship brands to achieve further levels of product segmentation, taking advantage of economy-of-scale savings in marketing and distribution.

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Wound Care in Costa Rica

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Overview

Discover the latest market trends and uncover sources of future market growth for the Wound Treatments industry in Costa Rica with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Wound Treatments industry in Costa Rica, our research will save you time and money while empowering you to make informed, profitable decisions.

The Wound Treatments in Costa Rica market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth  
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Wound Treatments in Costa Rica?
  • What are the major brands in Costa Rica?
  • What novel technologies are being used in sticking plasters/adhesive bandages?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Consumer Health market research database.

Wound Care in Costa Rica - Category analysis

HEADLINES

PROSPECTS

Low innovation continues with rising demand for more specialised wound care
More specialised and efficient products ensure development in a mature category
Natural-based products with botanical extracts to develop further, targeting millennials

COMPETITIVE LANDSCAPE

Major global manufacturers continue to lead due to their product segmentation, affordability and availability
Local and regional players compete in gauze, tape and other wound care with affordable, available and versatile products
Additional levels of innovation are expected as manufacturers seek to provide effective and affordable wound care solutions

CATEGORY DATA

Table 1 Sales of Wound Care by Category: Value 2014-2019
Table 2 Sales of Wound Care by Category: % Value Growth 2014-2019
Table 3 NBO Company Shares of Wound Care: % Value 2015-2019
Table 4 LBN Brand Shares of Wound Care: % Value 2016-2019
Table 5 Forecast Sales of Wound Care by Category: Value 2019-2024
Table 6 Forecast Sales of Wound Care by Category: % Value Growth 2019-2024

Consumer Health in Costa Rica - Industry Overview

EXECUTIVE SUMMARY

Consumer healthcare supported by additional segmentation and rising popularity of herbal/traditional products in 2019
Increased consumer focus on health continues to drive value sales
International companies lead in 2019 with their top-of-mind, trusted brands
Increased penetration across less traditional channels for consumer convenience
Future growth to be driven by increased consumer interest in health, wellness and convenience

MARKET INDICATORS

Table 7 Consumer Expenditure on Health Goods and Medical Services: Value 2014-2019
Table 8 Life Expectancy at Birth 2014-2019

MARKET DATA

Table 9 Sales of Consumer Health by Category: Value 2014-2019
Table 10 Sales of Consumer Health by Category: % Value Growth 2014-2019
Table 11 NBO Company Shares of Consumer Health: % Value 2015-2019
Table 12 LBN Brand Shares of Consumer Health: % Value 2016-2019
Table 13 Distribution of Consumer Health by Format: % Value 2014-2019
Table 14 Distribution of Consumer Health by Format and Category: % Value 2019
Table 15 Forecast Sales of Consumer Health by Category: Value 2019-2024
Table 16 Forecast Sales of Consumer Health by Category: % Value Growth 2019-2024

APPENDIX

OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches

DEFINITIONS

SOURCES

Summary 1 Research Sources