Executive Summary

Sep 2019
PROSPECTS
Ageing population drives growth, which is offset by population decline

Wound care is crucial in caring for older consumers. The demographic structure of the Latvian population reflects sharp ageing, as the pre-retirement age population and the elderly population are growing each year.

Rising incidence of diabetes increases demand for advanced wound care products

As in many other developed countries, the prevalence of diabetes is increasing in Latvia, with many previously undiagnosed cases emerging. The prevalence of type 2 diabetes is higher and increasing more rapidly than that of type 1 diabetes.

Slower volume growth, but higher value growth due to increasing segmentation

The potential for volume growth is limited in wound care over the forecast period, as the category has almost reached saturation. However, a higher current value CAGR is expected over the forecast period.

COMPETITIVE LANDSCAPE
Leading players maintain their positions, but see share declines

Forans maintained its clear lead in wound care with its Medrull brand in value terms in 2019, although it saw a slight decline in its share. However, it still held double the share of the next player, SCA Molycke with its Mepore brand.

With little brand loyalty, private label is prominent within wound care

The private label value share increased in every year of the review period in wound care. Private label is represented by several chemist/pharmacy chains, such as Benu, Meness Aptieka and A Aptiekas.

No changes to the regulation for first aid kits

The regulation for first aid kits, from August 2010, lists the mandatory contents of first aid kits in the workplace and details when these should be replaced. It also states how many first aid kits there should be for the number of employees.

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Wound Care in Latvia

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Overview

Discover the latest market trends and uncover sources of future market growth for the Wound Treatments industry in Latvia 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 Latvia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Wound Treatments in Latvia 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 Latvia?
  • What are the major brands in Latvia?
  • 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 Latvia - Category analysis

HEADLINES

PROSPECTS

Ageing population drives growth, which is offset by population decline
Rising incidence of diabetes increases demand for advanced wound care products
Slower volume growth, but higher value growth due to increasing segmentation

COMPETITIVE LANDSCAPE

Leading players maintain their positions, but see share declines
With little brand loyalty, private label is prominent within wound care
No changes to the regulation for first aid kits

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 Latvia - Industry Overview

EXECUTIVE SUMMARY

Positive performance, but slower increase due to population decline
Self-medication remains a strong growth driver
Brand loyalty maintains the lead of well-known established brands
Pharmacy chains dictate distribution and product choice
Growth despite population decline, with opportunities in niche segments

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 Penetration of Private Label by Category: % Value 2014-2019
Table 14 Distribution of Consumer Health by Format: % Value 2014-2019
Table 15 Distribution of Consumer Health by Format and Category: % Value 2019
Table 16 Forecast Sales of Consumer Health by Category: Value 2019-2024
Table 17 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