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