Market Insights Health Pharmacies OTC Products

Hand Sanitizer (Pharmacies) - Hong Kong

Hong Kong

Revenue in the Hand Sanitizer market is projected to reach US$14.42m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.20%, resulting in a market volume of US$17.71m 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$1.92 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 Hong Kong has experienced significant growth in recent years, driven by customer preferences for personal hygiene products and the local special circumstances of the region. Customer preferences in Hong Kong have shifted towards a greater emphasis on personal hygiene and cleanliness, particularly in the wake of the COVID-19 pandemic. As a result, there has been a surge in demand for hand sanitizers, leading to increased sales in pharmacies. Consumers are increasingly prioritizing products that offer convenience and effectiveness in killing germs, making hand sanitizers a popular choice. Trends in the market indicate that the demand for hand sanitizers is expected to continue growing in Hong Kong. The ongoing focus on personal hygiene, coupled with the convenience and portability of hand sanitizers, make them a preferred choice for consumers. Additionally, the increased awareness of the importance of hand hygiene in preventing the spread of infectious diseases has further fueled the demand for hand sanitizers. The local special circumstances in Hong Kong have also contributed to the development of the Hand Sanitizer (Pharmacies) market. Hong Kong is a densely populated city with a high degree of urbanization, leading to a greater risk of disease transmission. The compact nature of the city and the frequent use of public transportation create an environment where hand sanitizers are essential for maintaining personal hygiene. Moreover, the city's status as an international business hub and tourist destination attracts a large number of visitors, increasing the demand for hand sanitizers in hotels, restaurants, and other public places. Underlying macroeconomic factors have also played a role in the growth of the Hand Sanitizer (Pharmacies) market in Hong Kong. The region has a strong economy and a high standard of living, allowing consumers to prioritize their health and well-being. Additionally, the government's proactive approach in promoting public health and hygiene has further encouraged the use of hand sanitizers. In conclusion, the Hand Sanitizer (Pharmacies) market in Hong Kong is experiencing significant growth due to customer preferences for personal hygiene products, the local special circumstances of the region, and underlying macroeconomic factors. The demand for hand sanitizers is expected to continue rising as consumers prioritize cleanliness and the prevention of 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.