PROSPECTS AND OPPORTUNITIES
Improved economic conditions will drive stronger demand
An improved economy and stable unit prices are expected to drive growth in wound care sector in Nigeria over the forecast period. With current low levels of awareness and the perception of wound care as a non-essential category, rising incomes will likely increase demand.
Gauze, tape, and other wound care has scope to expand, due to growing awareness and increase in need for post-surgery care
Gauze, tape, and other wound care products is expected to exhibit the strongest performance over the forecast period. While sales have been constrained by high prices and reduced consumer spending power, aforementioned improvements in economic conditions should foster positive volume growth.
Local players to focus on partnerships with international brands to widen their product ranges
Economic challenges are likely to persist in Nigeria, at least in the early part of the forecast period, with high prices continuing to constrain demand. To address this, local manufacturers are anticipated to collaborate with international companies to offer more affordable options to consumers.
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Overview:
Understand the latest market trends and future growth opportunities for the Wound Care industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Wound Care industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Wound Care in Nigeria report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Wound Care in Nigeria?
- Which are the leading brands in Wound Care in Nigeria?
- How are products distributed in Wound Care in Nigeria?
- How has the regulatory and operating environment for Wound Care changed in Nigeria?
- How are considerations such as stress, self-medication and shifting consumer lifestyles shaping demand for Wound Care
- How significant are wider health concerns and consumer awareness in determining sales?
- Where is future growth expected to be most dynamic?
Wound Care in Nigeria - Category analysis
KEY DATA FINDINGS
Inflationary conditions impact performance of wound care in 2024
Sticking plasters/adhesive bandages will see stronger performance
Beiersdorf leads increasing fragmented landscape
Improved economic conditions will drive stronger demand
Gauze, tape, and other wound care has scope to expand, due to growing awareness and increase in need for post-surgery care
Local players to focus on partnerships with international brands to widen their product ranges
Consumer Health in Nigeria - Industry Overview
Consumer health in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer health?
OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches
DISCLAIMER
DEFINITIONS
The following categories and subcategories are included:
Wound Care
- First Aid Kits
- Gauze, Tape and Other Wound Care
- Sticking Plasters/Adhesive Bandages
Wound Care
This is the aggregation of sticking plasters/adhesive bandages, first aid kits, and gauze, tape, and other wound care. Exclude products that prevent foot blisters and anti-scarring only variants.
See all of our definitionsWhy buy this report?
- 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
This report originates from Passport, our Wound Care research and analysis database.
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