Market Insights Health OTC Pharmaceuticals

Hand Sanitizer - Ghana

Ghana

In Ghana, the Hand Sanitizer market market is projected to generate a revenue of US$2.16m in 2024.
It is anticipated that the market will experience an annual growth rate of 5.25% (CAGR 2024-2029).
When compared to other countries worldwide, the in the United States leads in terms of revenue generation with US$643.50m in 2024.
In relation to the total population, each person in Ghana contributes US$0.06 in revenue in 2024.
Ghana's hand sanitizer market is witnessing a surge in demand due to increased awareness about hygiene and the need for effective protection against infectious diseases.

Key regions: Germany, Europe, United States, Brazil, India

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Analyst Opinion

The Hand Sanitizer market in Ghana is experiencing significant growth due to the increased awareness of hand hygiene and the ongoing COVID-19 pandemic.

Customer preferences: Customers in Ghana are increasingly prioritizing hand hygiene and are seeking effective and convenient solutions to keep their hands clean. Hand sanitizers have become an essential item for individuals and households, as they provide a quick and convenient way to disinfect hands when soap and water are not readily available. Customers are looking for hand sanitizers that are effective against a wide range of germs and viruses, while also being gentle on the skin. Additionally, customers are also seeking hand sanitizers that are affordable and easily accessible.

Trends in the market: The demand for hand sanitizers in Ghana has surged in recent years, especially during the COVID-19 pandemic. This trend is driven by the increased awareness of the importance of hand hygiene in preventing the spread of infectious diseases. As a result, both local and international brands have entered the market to meet the growing demand. The market is witnessing a shift towards the use of alcohol-based hand sanitizers, as they are considered more effective in killing germs and viruses compared to non-alcohol-based alternatives. There is also a growing preference for hand sanitizers with moisturizing properties to prevent dryness and irritation of the skin.

Local special circumstances: Ghana has a relatively young population, with a large proportion of the population under the age of 30. This demographic trend has contributed to the growth of the hand sanitizer market, as younger individuals are more likely to prioritize hand hygiene and adopt new hygiene practices. Additionally, the government of Ghana has implemented various public health campaigns to promote hand hygiene and the use of hand sanitizers, further driving the demand in the market.

Underlying macroeconomic factors: Ghana has experienced steady economic growth in recent years, which has contributed to the increase in disposable income and purchasing power of the population. This has allowed more individuals to afford hand sanitizers and other hygiene products. Furthermore, the government has implemented policies and regulations to ensure the quality and safety of hand sanitizers in the market, which has increased consumer confidence and trust in the products. Overall, the combination of increased awareness, favorable demographics, and a growing economy has created a favorable environment for the growth of the hand sanitizer market in Ghana.

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.