Market Insights Health Pharmacies OTC Products

Hand Sanitizer (Pharmacies) - Bangladesh

Bangladesh

Revenue in the Hand Sanitizer market is projected to reach US$10.81m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.12%, resulting in a market volume of US$15.25m by 2029.
In global comparison, most revenue will be generated in China (US$385.20m in 2024).
In relation to total population figures, per person revenues of US$0.06 are generated in 2024.

Key regions: Japan, United States, Europe, United Kingdom, Canada

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Analyst Opinion

The Hand Sanitizer (Pharmacies) market in Bangladesh has witnessed significant growth in recent years.

Customer preferences: Customers in Bangladesh have shown a growing preference for hand sanitizers due to their convenience and effectiveness in maintaining hand hygiene. The increasing awareness about the importance of hand hygiene in preventing the spread of diseases has led to a surge in demand for hand sanitizers. Moreover, the compact size and portability of hand sanitizers make them a preferred choice for on-the-go use.

Trends in the market: One of the key trends in the Hand Sanitizer (Pharmacies) market in Bangladesh is the rising demand for alcohol-based hand sanitizers. Alcohol-based sanitizers are known to effectively kill germs and viruses, making them highly sought after by consumers. Additionally, the market has witnessed the introduction of hand sanitizers with moisturizing properties, catering to the needs of customers who experience dryness or skin irritation after frequent use.

Local special circumstances: Bangladesh is a densely populated country, which increases the risk of disease transmission. This has led to a greater emphasis on hand hygiene, driving the demand for hand sanitizers. Additionally, the country experiences hot and humid weather for a significant part of the year, which can contribute to the growth of bacteria and viruses. This further highlights the importance of hand sanitizers in maintaining personal hygiene.

Underlying macroeconomic factors: The Hand Sanitizer (Pharmacies) market in Bangladesh has also been influenced by macroeconomic factors. The country has witnessed steady economic growth, resulting in an increase in disposable income among consumers. This has led to a higher willingness to spend on personal care products, including hand sanitizers. Furthermore, the COVID-19 pandemic has created a heightened awareness about hygiene practices, leading to an increased demand for hand sanitizers. In conclusion, the Hand Sanitizer (Pharmacies) market in Bangladesh is experiencing growth due to customer preferences for convenient and effective hand hygiene solutions. The market is witnessing a trend towards alcohol-based sanitizers and products with moisturizing properties. The local special circumstances, such as the population density and hot weather, contribute to the demand for hand sanitizers. Additionally, macroeconomic factors, including economic growth and the impact of the COVID-19 pandemic, have further fueled the market growth.

Methodology

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.