Wound Care in Colombia

Euromonitor International
January 2021
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LIST OF CONTENTS AND TABLES

KEY DATA FINDINGS.................................................................................................................. 1
2020 IMPACT ............................................................................................................................... 1
Demand for wound care increases as Colombians spend more time at home ......................... 1
Diabetes and other conditions increase preventative and healing wound care demand .......... 1
Tecnoquímicas strengthens leadership of wound care with wide distribution network ............. 1
RECOVERY AND OPPORTUNITIES .......................................................................................... 2
Demand for wound care set to return to greater levels of normalisation ................................... 2
Wound care could see further expansion with new brands ....................................................... 2
Use of fireworks also drives demand of wound care in times of celebration ............................. 2
CATEGORY DATA ....................................................................................................................... 2
Table 1 Sales of Wound Care by Category: Value 2015-2020 .................................. 2
Table 2 Sales of Wound Care by Category: % Value Growth 2015-2020 ................. 3
Table 3 NBO Company Shares of Wound Care: % Value 2016-2020 ...................... 3
Table 4 LBN Brand Shares of Wound Care: % Value 2017-2020 ............................. 3
Table 5 Forecast Sales of Wound Care by Category: Value 2020-2025 ................... 4
Table 6 Forecast Sales of Wound Care by Category: % Value Growth 2020-
2025 ............................................................................................................. 4

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WOUND CARE IN COLOMBIA

KEY DATA FINDINGS
▪ Consumers stock up on wound care as preventative measure during lockdown in 2020
▪ Wound care records 5% current value growth in 2020 to reach COP46 billion
▪ Sticking plasters/adhesive bandages records marginally stronger current value growth in 2020
▪ Tecnoquímicas SA strengthens leadership in 2020 with a 27% value share
▪ Over the forecast period, wound care is predicted to record a 3% current value CAGR
(marginal decline in value terms at constant 2020 prices)

2020 IMPACT

Demand for wound care increases as Colombians spend more time at

home
Wound care in Colombia is a mature category which had been experiencing an undynamic
performance prior to the emergence of the pandemic, as many local consumers traditionally
tend to purchase these products when they are needed rather than stocking up on the products
at home due to the easy availability through both health and beauty specialist retailers and
grocery retailers.
However, demand for wound care increased across the category in 2020, as consumers
confined to their homes during the lockdown, stocked up as a preventative measure, to ensure
adequate protection should the need arise. While no official first aid kits were available in the
country at the end of the review period, players encouraged consumers to stock up on essential
wound care such as sticking plasters/adhesive bandages “just in case” an accident occurred in
the home, thereby reducing the need to visit pharmacies. Accidents were more likely to occur in
the home, particularly with children unable to attend school, and the greater likelihood of some
Colombians attempting basic home maintenance repairs.

Diabetes and other conditions increase preventative and healing wound

care demand
More sedentary lifestyles already emerging in Colombia accompanied by long hours of
telework and reduced exercise continued into 2020, with many consumers working from home
during the lockdown. Limited activity can result in skin ulcers, increasing the need for products
relating to wound healing and more intensive care. In addition, rising incidence of type 2
diabetes in the country have also supported increasing use of wound care, with sufferers
attempting to avoid any further health risks or complications through the thorough cleaning and
treatment of wounds.

Tecnoquímicas strengthens leadership of wound care with wide

distribution network
Tecnoquímicas SA strengthened its leadership of wound care in 2020, followed at some
distance by BSN Medical Ltda (Leukoplast) and 3M Colombia SA (Nexcare), the only other
players to hold double-digit value share in the category. Tecnoquímicas continues to rely on the
strength of its leading brand Cure Band, which enjoys consumer loyalty and awareness due to
its strong distribution network, which has resulted in Cure Band having a nationwide presence.

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Tecnoquímicas has an aggressive expansion plan both inside and outside of Colombia for Cure
Band. Although private label remained relatively limited in wound care in 2020, it is still the
biggest private label share in consumer health, particularly in sticking plasters/adhesive
bandages. However, a lack of innovation or new product development has seen private label’s
strength gradually waning with no significant gains expected over the forecast period.

RECOVERY AND OPPORTUNITIES

Demand for wound care set to return to greater levels of normalisation

Demand for wound care is predicted to gradually return to greater levels of normalisation over
the forecast period in terms of consumer purchasing behaviour, with many Colombians likely to
have built up sufficient stock during 2020. Moving forward, they are likely to return to purchasing
wound care as and when needed.
While the presence of first aid kits was negligible at the end of the review period, with many
Colombians perceiving these as an unnecessary cost as they have a higher than average unit
cost, they are available through online platforms such as MercadoLibre, which allows
consumers to pay by instalments over 36 months. Players are therefore likely to see greater
value in launching specific first aid kits to appeal to workplaces, or public transport networks
once the threat of the virus wanes and consumers resume their daily routines.

Wound care could see further expansion with new brands

Nanoblast, a Mexican start-up company, is seen as a potential competitor that plans to enter
Colombian wound care, offering specific solutions by addressing chronic ulcers, especially in
those consumers who suffer from diabetes or struggle with ongoing skin sores. The brand has
created a range of wound care including dressings based on the use of agave, known for its
anti-inflammatory and pain-relieving properties. Nanoblast, therefore claims that its wound care
has the potential to accelerate healing and promote skin regeneration. This type of development
could add some excitement and competition to a maturing category.

Use of fireworks also drives demand of wound care in times of

celebration
Inadequate and illegal use of fireworks in Colombia at times of celebration has traditionally
increased the number of accidents resulting in burns, supporting demand for wound care. The
use of sparklers, flyers, volcanoes, rockets and flare lights had continued to increase prior to the
pandemic. Whilst home seclusion is likely to have reduced this sort of activity in 2020, a return
to greater levels of celebrations and events over the forecast period depending on the threat
level of the virus, is likely to preserve this tradition.

CATEGORY DATA
Table 1 Sales of Wound Care by Category: Value 2015-2020

COP billion
2015 2016 2017 2018 2019 2020

First Aid Kits - - - - - -

Gauze, Tape and Other 26.2 27.7 28.4 29.6 30.5 31.9
Wound Care

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Sticking Plasters/ 11.9 12.5 12.5 12.8 13.3 14.0

Adhesive Bandages
Wound Care 38.2 40.2 41.0 42.4 43.8 45.8
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note: 2020 data is provisional and based on part-year estimates.

Table 2 Sales of Wound Care by Category: % Value Growth 2015-2020

% current value growth

2019/20 2015-20 CAGR 2015/20 Total

First Aid Kits - - -

Gauze, Tape and Other Wound Care 4.5 4.0 21.4
Sticking Plasters/Adhesive Bandages 5.2 3.2 17.3
Wound Care 4.7 3.7 20.1
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note: 2020 data is provisional and based on part-year estimates.

Table 3 NBO Company Shares of Wound Care: % Value 2016-2020

% retail value rsp

Company 2016 2017 2018 2019 2020

Tecnoquímicas SA 23.2 23.6 24.4 25.4 26.8

BSN Medical Ltda 16.1 15.6 15.4 15.2 14.7
3M Colombia SA 14.3 14.1 13.8 13.8 13.4
Beiersdorf (Colombia) SA 4.8 4.9 4.9 4.9 4.9
Boston Medical Devices 2.2 2.2 2.2 2.5 2.7
Colombia Ltda
Covidien Colombia SA 2.3 2.4 2.6 2.6 2.6
Johnson & Johnson de 4.4 3.9 3.2 2.9 2.5
Colombia SA
Sherleg Laboratories SAS 2.3 2.4 2.4 2.4 2.4
Industrias Protex SA 2.1 2.1 2.1 2.1 2.1
Alfa Trading SAS 1.8 1.7 1.8 1.8 1.8
Merck Colombia SA 0.0 - - - -
Private Label 5.6 5.5 5.5 5.4 5.3
Others 20.8 21.6 21.7 21.1 20.8
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 4 LBN Brand Shares of Wound Care: % Value 2017-2020

% retail value rsp

Brand (GBO) Company (NBO) 2017 2018 2019 2020

Cure Band Tecnoquímicas SA 17.2 17.7 18.6 19.7

Leukoplast (BSN BSN Medical Ltda 14.9 14.7 14.5 14.1
Medical GmbH & Co KG)
Nexcare (3M Inc) 3M Colombia SA 11.7 11.4 11.3 11.0
Curas Cure band Tecnoquímicas SA 6.4 6.6 6.7 7.1
Hansaplast Beiersdorf (Colombia) SA 4.9 4.9 4.9 4.9

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(Beiersdorf AG)
BMD (Boston Medical Boston Medical Devices 2.2 2.2 2.5 2.7
Device Colombia Ltda
International LLC)
Band-Aid (Johnson & Johnson & Johnson de 3.9 3.2 2.9 2.5
Johnson Inc) Colombia SA
Tegaderm (3M Inc) 3M Colombia SA 2.4 2.4 2.4 2.5
Sherleg Sherleg Laboratories SAS 2.4 2.4 2.4 2.4
Kendall (Covidien Covidien Colombia SA 2.2 2.3 2.3 2.3
Plc)
Medispo Industrias Protex SA 2.1 2.1 2.1 2.1
AlfaSafe Alfa Trading SAS 1.7 1.8 1.8 1.8
Coverplast (BSN BSN Medical Ltda 0.7 0.7 0.7 0.6
Medical GmbH & Co KG)
Curity (Cardinal Covidien Colombia SA 0.2 0.3 0.3 0.3
Health Inc)
Hansaplast Aqua Beiersdorf (Colombia) SA - - - -
Protect (Beiersdorf
AG)
Curity (Covidien Plc) Covidien Colombia SA - - - -
Curity (Medtronic Covidien Colombia SA - - - -
Inc)
Neuropad (Merck KGaA) Merck Colombia SA - - - -
Private label Private Label 5.5 5.5 5.4 5.3
Others Others 21.6 21.7 21.1 20.8
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 5 Forecast Sales of Wound Care by Category: Value 2020-2025

COP billion
2020 2021 2022 2023 2024 2025

First Aid Kits - - - - - -

Gauze, Tape and Other 31.9 32.0 32.0 31.7 31.4 30.9
Wound Care
Sticking Plasters/ 14.0 14.2 14.4 14.5 14.5 14.5
Adhesive Bandages
Wound Care 45.8 46.2 46.3 46.2 45.9 45.4
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Note: 2020 data is provisional and based on part-year estimates.

Table 6 Forecast Sales of Wound Care by Category: % Value Growth 2020-2025

% constant value growth

2020/2021 2020-25 CAGR 2020/25 Total

First Aid Kits - - -

Gauze, Tape and Other Wound Care 0.5 -0.6 -3.0
Sticking Plasters/Adhesive Bandages 1.5 0.8 3.9
Wound Care 0.8 -0.2 -0.9
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Note: 2020 data is provisional and based on part-year estimates.

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