Market Insights Consumer OTC Pharmaceuticals

Hand Sanitizer - South Korea

South Korea

Revenue in the Hand Sanitizer market amounts to US$70.23m in 2024. The market is expected to grow annually by 5.06% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$644m in 2024).
In relation to total population figures, per person revenues of US$1.36 are generated in 2024.

Key regions: Worldwide, United Kingdom, Europe, Canada, Indonesia

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Currency

Analyst Opinion

The global Hand Sanitizer market is experiencing enormous growth due to the outbreak of the COVID-19 pandemic. It has witnessed a growth of around 500% in 2020.

The rising awareness of hygiene measures as well as the requirements of a better self-protection from the infection chain of COVID-19 are expected to boost the market growth during the pandemic period. The relief of the lockdown restrictions, such as the reopening of offices and commercial locations, is further driving the market growth, as hand sanitizers offer a simple and cost-effective solution to prevent the transmission in daily contact.

The market growth is estimated to drop back to its pre-COVID level at a CAGR of around 4% after 2022.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.