Wound Care in South Korea

2020 IMPACT

Wearing masks for long periods encourages the use of wound care, to protect the face from sores

In 2020, wound care is set to see minimal impact from the outbreak of COVID-19. Some consumers whose occupation requires facing patients (nurses, doctors and ambulance drivers) had to wear face masks for long hours.

Despite e-commerce having room to grow, consumers preference pharmacies during the outbreak of COVID-19

Wound care is the only product within OTC consumer health that can sell through e-commerce, with strict regulations in South Korea, making it hard for other products to use the retailing channel. Despite have the channel available during the COVID-19 pandemic, when consumers were more likely to stay at home, e-commerce is not set to see a boost in growth for 2020, with consumers continuing to purchase wound care in pharmacies.

Medifoam retain its lead, while new launches find a place on the landscape

During 2020, leading player Medifoam has been active in its efforts to retain its top spot. The brand had a packaging renewal, aiming to help consumers choose between products, as well as releasing press advising how to use their liquid type product, after gaining insight that some consumers were unaware of the correct usage.

RECOVERY AND OPPORTUNITIES

No impact from the COVID-19 virus across the forecast period, as gauze, tape and other wound care leads growth

Wound care is not set to be impacted by the outbreak of COVID-19 across the forecast period, with growth expected to remain fairly steady across the next five years, recording a retail current value CAGR of 3%. Sales will continue to be linked to seasonality and new product developments.

Brands of sticking plasters/adhesive bandages will look to appeal to consumers through packaging and licensing strategies

As gauze, tape and other wound care will continue to dominate across the coming years, especially polyurethane products, brands of sticking plasters/adhesive bandages are expected to continue turning to branding and packaging strategies to stand out, and drive sales. As such, many players use a licensing strategy in order to catch consumers’ interest.

A rise in active lifestyles will support ongoing growth in wound care, boosted by the health and wellness trend

Sales in wound care are expected to be driven by ageing, everyday activities, and a rise in active lifestyles. In particular, consumers rising interest in health and wellness, boosted by the outbreak of COVID-19, will have a positive impact on sales of wound care across the forecast period.