Key regions: Japan, United States, Europe, United Kingdom, Canada
The Hand Sanitizer (Pharmacies) market in Armenia has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: Armenian consumers have become increasingly conscious of personal hygiene and the importance of hand sanitization in preventing the spread of germs and diseases. This has led to a growing demand for hand sanitizers, particularly in pharmacies where consumers trust the quality and authenticity of the products. Additionally, the convenience of purchasing hand sanitizers from pharmacies, which are easily accessible and often offer a wide range of options, has also contributed to the market's growth.
Trends in the market: One of the key trends in the Hand Sanitizer (Pharmacies) market in Armenia is the increasing preference for alcohol-based hand sanitizers. Alcohol-based sanitizers have been proven to be more effective in killing germs and viruses, including the current COVID-19 pandemic. As a result, there has been a shift towards these products, with pharmacies offering a variety of alcohol-based hand sanitizers to cater to consumer demand. Another trend in the market is the rising popularity of natural and organic hand sanitizers. With growing awareness about the potential harmful effects of certain chemicals in conventional hand sanitizers, consumers are seeking safer and more environmentally-friendly alternatives. Pharmacies in Armenia have responded to this trend by stocking natural and organic hand sanitizers, which are made from plant-based ingredients and do not contain harsh chemicals.
Local special circumstances: Armenia's geographical location and its historical and cultural ties with neighboring countries have influenced the Hand Sanitizer (Pharmacies) market. The country shares borders with Turkey, Georgia, Azerbaijan, and Iran, which are important trade partners. This proximity has facilitated the import of hand sanitizers from these countries, providing consumers with a wide variety of options. Additionally, Armenia has a rich tradition of herbal medicine, and this has influenced the demand for natural and organic hand sanitizers.
Underlying macroeconomic factors: The Hand Sanitizer (Pharmacies) market in Armenia has also been influenced by macroeconomic factors. The country has witnessed steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has had a positive impact on the demand for hand sanitizers, as consumers are more willing to invest in personal hygiene products. Furthermore, the COVID-19 pandemic has heightened the importance of hand sanitization, leading to an increased demand for hand sanitizers in pharmacies. In conclusion, the Hand Sanitizer (Pharmacies) market in Armenia has experienced significant growth due to changing customer preferences, including the preference for alcohol-based and natural/organic hand sanitizers. The local special circumstances, such as Armenia's geographical location and cultural ties, have also influenced the market. Additionally, underlying macroeconomic factors, such as economic growth and the COVID-19 pandemic, have further boosted the demand for hand sanitizers in pharmacies.
Data coverage:
The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.
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