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Learn moreOct 2019
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Awareness of the problems that can result from sedentary unhealthy lifestyles is leading to an increasing number of Singaporeans taking up sports and exercise as a way to maintain a certain level of fitness, whether outside in the natural environment or in gymnasiums. Increased activity can lead to the likelihood of injuries, maintaining stable demand for the largest category of sticking plasters/adhesive bandages in 2019.
Producers of wound care are coming under increasing pressure to offer discounting and bundle deals to compete with the rising presence of private label in the category, particularly in sticking plasters/adhesive bandages and gauze, tape and other wound care, where private label offers more affordable prices. Further penetration of private label over the forecast period will lead to marginally slower current value growth compared with the review period, while branded products look to add greater specific value through innovation to offset private label’s strength.
To offer consumers differentiation and attract them away from cheaper private label offers, some players continued to launch new product innovations within wound care over the review period such as waterproof material or products that claimed to offer faster healing properties such as those offered by leading brands Hansaplast and Nexcare. This trend is in line with Singaporean consumer demand (particularly amongst more affluent consumers) for hypoallergenic products that are gentle on the skin, such as those found in beauty and personal care.
Wound care continued to be led by multinational players such as Beiersdorf, which convincingly leads the largest category of sticking plasters/adhesive bandages with its brand Hansaplast and 3M with its brand Nexcare. Smith & Nephew on the other hand, strengthened its lead of gauze, tape and other wound care.
Private label continued to record the most impressive performance within wound care in 2019, both in terms of value share gain and double-digit current value growth. Although many consumers were initially attracted to private label due to the offer of more competitive prices for what many Singaporeans consider to be basic products, more established private label lines such as Guardian and Watsons are expanding their portfolios by moving towards offering greater functionality with products that may be deemed to offer greater specific value, thereby leading to greater competition with branded players.
With further consolidation amongst the leading players and private label producers, smaller players are being gradually squeezed out, and continued to lose value share at the end of the review period. Smaller companies attempt to attract families by focusing on products that target children by featuring cartoon designs, although this target audience appears to be marginally waning with the increasing popularity of digital games that can be player safely indoors, reducing the likelihood of injury.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Wound Treatments industry in Singapore 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 Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Consumer Health market research database.
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.