Market Insights Health Pharmacies OTC Products

Hand Sanitizer (Pharmacies) - Guyana

Guyana

Revenue in the Hand Sanitizer market is projected to reach US$0.94m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.45%, resulting in a market volume of US$1.69m 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$1.14 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 Guyana has witnessed significant growth in recent years, driven by changing customer preferences and increasing awareness about hand hygiene. Customer preferences have shifted towards using hand sanitizers as a convenient and effective way to maintain cleanliness and prevent the spread of germs. With the rise of infectious diseases and the ongoing COVID-19 pandemic, individuals are becoming more conscious about personal hygiene and are actively seeking products that can help protect their health. Hand sanitizers have emerged as a popular choice due to their portability and ease of use, making them a convenient option for maintaining hand hygiene on the go. Trends in the market indicate a growing demand for hand sanitizers in Guyana. Pharmacies are witnessing an increased demand for these products as customers seek to stock up on hand sanitizers for personal use. This trend is expected to continue in the foreseeable future, driven by the ongoing emphasis on hand hygiene and the need for effective preventive measures against infectious diseases. Local special circumstances in Guyana have also contributed to the growth of the Hand Sanitizer (Pharmacies) market. The country has a tropical climate, which creates favorable conditions for the spread of germs and infectious diseases. Additionally, Guyana has a growing population with increasing urbanization, leading to higher population density and a greater need for hygiene products. These factors have created a conducive environment for the growth of the hand sanitizer market in pharmacies. Underlying macroeconomic factors have also played a role in the development of the Hand Sanitizer (Pharmacies) market in Guyana. The country has experienced steady economic growth in recent years, leading to an increase in disposable income. As a result, consumers have more purchasing power and are willing to spend on products that promote health and well-being. Furthermore, the government and healthcare authorities have been actively promoting hand hygiene practices, which has further fueled the demand for hand sanitizers in pharmacies. In conclusion, the Hand Sanitizer (Pharmacies) market in Guyana is witnessing significant growth due to changing customer preferences, increased awareness about hand hygiene, and favorable local circumstances. The market is expected to continue growing in the coming years, driven by the ongoing emphasis on personal hygiene and the need for effective preventive measures against infectious diseases.

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.