Volume growth of sticking plasters/adhesive bandage and gauze, tape and other wound care – the only two categories that have shown measurable sales within wound care – declined annually for most of review period, with COVID-19 expected to marginally intensify the downward volume trend in 2020. Over the review period, the decline was largely driven by an unstable economy, which led consumers to reduce their spending on these products.
In 2014, the Ley de Seguridad Vial (Road Safety Act), Law 19,061, came into effect in Uruguay. Among other things, the law established that all vehicles with four or more wheels operating on public roads throughout the country must carry a first aid kit.
Multinational Johnson & Johnson de Uruguay continued to dominate wound care in value terms in 2020, mostly due to its notable sticking plaster brand Band-Aid. However, due to the Uruguayan Peso devaluation in 2019-2020, the company lost some market share to the hand of local companies.
Most of the impact of COVID-19 in 2020 pertained to the increased propensity of consumers to trade down to more basic and affordable offerings amidst the economic uncertainty. While the country recovers, consumers are likely to continue this behaviour until their purchasing power rises once again.
While wound care is expected to continue declining in volume terms over the forecast period, it is still expected to post a positive current value CAGR over the forecast period, which is expected to be stronger than the historic CAGR seen throughout the review period. Gauze, tape and other wound care is expected to continue to see the strongest current value growth, due to the greater maturity of sticking platers/adhesive bandages.
The leading manufacturers in wound care are expected to continue investing in licensed products over the forecast period to be able to target a wider audience. For example, Johnson & Johnson launched Band-Aid Frozen at the end of 2018 and then it followed that up with a Band-Aid licensed by the Toy Story 4 cartoon in June 2019.
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Understand the latest market trends and future growth opportunities for the Wound Treatments industry in Uruguay 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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