Sales of wound care have slumped significantly in 2020, down by 8% compared to an increase of 3% in 2019. While this category was affected to some degree by lack of trade from mainland Chinese tourists, the primary reason for its short term decline was lower usage frequency among local residents.
Local consumers are becoming more drawn towards new innovations when selecting between wound care products. Japanese liquid bandages have penetrated Hong Kong for quite some time already, with leaders Nexcare and Elastoplast both offering similar types of products.
Beiersdorf with its brand Elastoplast remained the leader in sticking plasters and adhesives bandages in 2020. Despite not launching any large-scale TV advertising, the brand promotes its three flagship products - the Aqua Protect, Would Healing Ointment and Scar Reducer as a 3-step solution, actively through online magazine and blog post on U Lifestyle, Mami Buy and Cosmopolitan especially targeting young mothers.
Positive growth is expected to resume in 2021 when sales are forecast to increase by 8%, and then are expected to return to their pre-COVID pattern of slow growth.
There is also expected to be a small but significant growth in secondary purchases as character licensed and other novelty wound care evolves into a collector’s space. Launched as wound care for children, character wound care is becoming sought after by females in their teen and 20s as collectibles, especially those produced in limited numbers or sold through limited channels.
Since household replacement cycles of wound care products experience stagnant growth, players are increasingly relying on cross- category synergies and complementary products to boost sales. Local consumers are more inclined to purchase packaged first aid kits which include gloves, wipes, gauze and sterile dressings because of the convenience- driven lifestyles in Hong Kong, giving way for all-in-one first aid solution providers such as Life System and Macro Med to flourish in the market, while traditional wound care suppliers grow through launching complementary products that claim to reduce scars and heal wounds.
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Understand the latest market trends and future growth opportunities for the Wound Treatments industry in Hong Kong, China 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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