Hand Sanitizer (Pharmacies) - Jamaica

  • Jamaica
  • Revenue in the Hand Sanitizer market is projected to reach US$0.74m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.81%, resulting in a market volume of US$0.85m 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$0.26 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 Jamaica has experienced significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences:
Customers in Jamaica have shown a growing preference for hand sanitizers purchased from pharmacies. This is primarily due to the perceived quality and reliability of products available in pharmacies. Customers trust that hand sanitizers sold in pharmacies are safe and effective in killing germs and preventing the spread of diseases. Additionally, pharmacies offer a wide range of hand sanitizer brands, allowing customers to choose products that suit their specific needs and preferences.

Trends in the market:
One of the key trends in the Hand Sanitizer (Pharmacies) market in Jamaica is the increasing demand for natural and organic hand sanitizers. Customers are becoming more conscious of the ingredients used in hand sanitizers and are opting for products that are free from harsh chemicals and artificial fragrances. This trend is driven by a growing awareness of the potential health risks associated with certain chemicals found in traditional hand sanitizers. Another trend in the market is the rising popularity of travel-sized hand sanitizers. With an increase in international travel and the need for convenient hygiene solutions on the go, customers are seeking compact and portable hand sanitizers that can easily fit in their bags or pockets. Pharmacies are catering to this demand by offering a variety of travel-sized hand sanitizers from different brands.

Local special circumstances:
Jamaica, being a popular tourist destination, experiences a high influx of visitors from around the world. This has contributed to the increased demand for hand sanitizers in the country. Tourists are more likely to purchase hand sanitizers from pharmacies to ensure their personal hygiene and protect themselves from potential illnesses during their stay. Additionally, the ongoing COVID-19 pandemic has further fueled the demand for hand sanitizers in Jamaica. The government and health authorities have emphasized the importance of hand hygiene in preventing the spread of the virus, leading to a surge in the sales of hand sanitizers in pharmacies.

Underlying macroeconomic factors:
The growth of the Hand Sanitizer (Pharmacies) market in Jamaica is also influenced by underlying macroeconomic factors. The country's improving economic conditions have resulted in increased disposable income among consumers, enabling them to spend more on personal care products such as hand sanitizers. Furthermore, the government's focus on healthcare and hygiene promotion has created a favorable environment for the growth of the hand sanitizer market. In conclusion, the Hand Sanitizer (Pharmacies) market in Jamaica is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customers in Jamaica prefer purchasing hand sanitizers from pharmacies due to the perceived quality and reliability of products. The market has witnessed a growing demand for natural and organic hand sanitizers as well as travel-sized options. Special circumstances such as tourism and the COVID-19 pandemic have further contributed to the market's growth. Additionally, the country's improving economic conditions and government initiatives in healthcare and hygiene promotion have created a conducive environment for the market's development.

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.

Overview

  • Revenue
  • Analyst Opinion
  • Global Comparison
  • Methodology
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