Wound care is the smallest product area in terms of value sales among consumer health products in Nigeria. Current value growth of wound care is expected to be significantly lower in 2020 than in 2019, with only single-digit value growth, despite inflationary price rises.
Unlike many other consumer health products in Nigeria, multinationals dominate wound care, with three main players, Beiersdorf (Elastoplast), Shaoxing Medical Hospital China (Steam Zinc Oxide Adhesive Plaster) and Johnson & Johnson (Savlon), with no local players competing in in this product area. Beiersdorf is by far the largest player, accounting for over a third of value sales and this has been increasing consistently over the review period.
Would care continues to underperform, with mainly single-digit value growth over the review period. One reason is that traditional herbal remedies take significant value share away from wound care, especially in rural areas, where hospitals and conventional healthcare services are either poor or non-existent.
As a mature category, wound care is expected to register little overall impact from COVID-19 over the forecast period. However, as people start moving around again and doing some exercise, value growth will return to pre COVID-19 levels, with a similar CAGR to that seen in the review period.
Though value sales are minimal, first aid kits is expected to register the highest value growth over the forecast period. With the number of road accidents continuing to rise, due to factors such as reckless driving and poor road conditions, drivers are increasingly becoming aware of the importance of having a first aid kit containing items such as bandages, gauze tape and antiseptic iodine solution in their car.
Wound care is expected to register single-digit growth in value sales in 2020 and wound care will remain a small product area, despite the growing population in Nigeria. This reflects the fact that wound care products are typically purchased by more affluent consumers.
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Understand the latest market trends and future growth opportunities for the Wound Treatments industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Wound Treatments research and analysis database.
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