Market Insights Health Pharmacies OTC Products

Hand Sanitizer (Pharmacies) - Central America

Central America

Revenue in the Hand Sanitizer market is projected to reach US$10.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.37%, resulting in a market volume of US$13.12m 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$0.19 are generated in 2024.

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

Market

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Currency

Analyst Opinion

The Hand Sanitizer (Pharmacies) market in Central America has been experiencing significant growth in recent years.

Customer preferences: Customers in Central America have shown a growing preference for hand sanitizers due to their convenience and effectiveness in preventing the spread of germs. The COVID-19 pandemic has further accelerated this trend, as individuals have become more conscious about maintaining proper hand hygiene. Additionally, the increased awareness about the importance of personal hygiene has led to a surge in demand for hand sanitizers.

Trends in the market: One of the key trends in the Hand Sanitizer (Pharmacies) market in Central America is the increasing availability and variety of hand sanitizer products. Pharmacies in the region have been expanding their product offerings to cater to the growing demand. This includes different sizes of hand sanitizers, scented options, and those with added moisturizing properties. Furthermore, pharmacies are also offering hand sanitizer dispensers at their stores, making it more convenient for customers to access and use hand sanitizers.

Local special circumstances: Central America is a region that experiences a high prevalence of infectious diseases, making hand hygiene a critical concern. The tropical climate in the region also contributes to the spread of germs, as humidity can create an ideal environment for bacteria and viruses to thrive. These local circumstances have further fueled the demand for hand sanitizers in Central America.

Underlying macroeconomic factors: The Hand Sanitizer (Pharmacies) market in Central America is influenced by several macroeconomic factors. The region has been experiencing steady economic growth, which has led to an increase in disposable income among consumers. This has enabled individuals to spend more on personal care products, including hand sanitizers. Additionally, the growing tourism industry in Central America has also contributed to the demand for hand sanitizers, as travelers prioritize maintaining good hand hygiene while exploring the region. In conclusion, the Hand Sanitizer (Pharmacies) market in Central America is witnessing significant growth due to customer preferences for convenient and effective hand hygiene products. The increasing availability and variety of hand sanitizers, along with local circumstances such as a high prevalence of infectious diseases and the tropical climate, have further contributed to this trend. The region's steady economic growth and thriving tourism industry have also played a role in driving the demand for hand sanitizers.

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.