Wound care is expected to maintain a marginally lower current value growth in 2020 to that seen in the previous year. Lockdown restrictions drive the decrease in demand, as home seclusion and lowered participation in physical outdoor activities leads to fewer injuries and diminishes the need for replacement purchases.
In 2020, segmentation emerged as the most relevant driver in wound care offerings in Costa Rica. In the case of sticking plasters/adhesive bandages, waterproof, flexible, athletic, cushioned and child-specific products remain the most relevant differentiated alternatives.
Major global manufacturers, including BDF Centroamerica SA and 3M Costa Rica SA, continue to lead wound care in Costa Rica in 2020. BDF Centroamerica SA’s Hansaplast brand benefits from top-of-mind awareness, as does 3M Costa Rica SA’s 3M Nexcare brand.
Over the forecast period, the greatest opportunity lies in more affordable wound care proposals, where local and regional manufacturers have the potential to take the lead. As a result of the anticipated economic contraction in the next forecast period, wound care solutions at affordable prices will drive demand as most local consumers will struggle with lowered disposable incomes.
Products enhanced with botanical extracts are set to open new development opportunities for wound care over the forecast period. Botanical extracts with functional therapeutic properties such as skin soothing effects, including lavender, chamomile, tea tree and aloe, are expected to increase in popularity in these product offerings over the forecast period.
Over the forecast period, the development of complete wound care lines that include gauzes, tapes, bandages and antibacterial/regenerating creams and ointments is expected to increase. Such lines will target specific groups of buyers across higher-end pharmacies and drugstores.
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Understand the latest market trends and future growth opportunities for the Wound Treatments industry in Costa Rica 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.
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This report originates from Passport, our Wound Treatments research and analysis database.
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