Market Insights Health Pharmacies OTC Products

Hand Sanitizer (Pharmacies) - Lithuania

Lithuania

Revenue in the Hand Sanitizer market is projected to reach US$1.55m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.37%, resulting in a market volume of US$1.92m 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$0.57 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 Lithuania has been experiencing significant growth in recent years.

Customer preferences: Customers in Lithuania have shown a growing preference for hand sanitizers, especially those available in pharmacies. This can be attributed to increased awareness about the importance of hand hygiene in preventing the spread of diseases. Additionally, the convenience of purchasing hand sanitizers from pharmacies, which are easily accessible and trusted sources of healthcare products, has also contributed to the preference for this distribution channel.

Trends in the market: One of the key trends in the Hand Sanitizer (Pharmacies) market in Lithuania is the increasing demand for natural and organic hand sanitizers. Consumers are becoming more conscious about the ingredients used in personal care products, including hand sanitizers, and are seeking products that are free from harsh chemicals. This trend aligns with the global shift towards more sustainable and eco-friendly products. Another trend in the market is the rising popularity of hand sanitizers with moisturizing properties. Regular use of hand sanitizers can sometimes lead to dryness and irritation of the skin. As a result, consumers are seeking hand sanitizers that not only effectively kill germs but also keep their hands moisturized and nourished.

Local special circumstances: Lithuania has a well-developed healthcare system, with a high number of pharmacies spread across the country. This makes it convenient for consumers to access hand sanitizers from pharmacies, leading to the popularity of this distribution channel. Additionally, the trust and reliability associated with pharmacies play a significant role in driving the preference for hand sanitizers purchased from these establishments.

Underlying macroeconomic factors: The Hand Sanitizer (Pharmacies) market in Lithuania is influenced by several macroeconomic factors. Firstly, the country's growing economy has led to an increase in disposable income, allowing consumers to spend more on personal care products, including hand sanitizers. Moreover, the rising awareness about hygiene and health in the wake of the COVID-19 pandemic has further fueled the demand for hand sanitizers. In conclusion, the Hand Sanitizer (Pharmacies) market in Lithuania is witnessing growth due to customer preferences for hand sanitizers purchased from pharmacies, the trend towards natural and moisturizing products, the convenience of accessing pharmacies, and the underlying macroeconomic factors such as the growing economy and increased awareness about hygiene.

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.