Market Insights Health Pharmacies OTC Products

Hand Sanitizer (Pharmacies) - Malta

Malta

Revenue in the Hand Sanitizer market is projected to reach US$0.81m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.92%, resulting in a market volume of US$1.08m 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$1.50 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 Malta is experiencing significant growth due to changing customer preferences and global trends.

Customer preferences: Customers in Malta are increasingly prioritizing hygiene and cleanliness, leading to a higher demand for hand sanitizers. This shift in preferences can be attributed to a growing awareness of the importance of hand hygiene in preventing the spread of diseases. Additionally, the COVID-19 pandemic has further emphasized the need for hand sanitizers, as individuals are seeking ways to protect themselves and their loved ones from the virus.

Trends in the market: The hand sanitizer market in Malta is witnessing an increase in the number of product offerings and innovations. Manufacturers are introducing a wide range of hand sanitizers with different formulations, scents, and packaging options to cater to diverse customer preferences. Additionally, there is a growing trend of eco-friendly and natural hand sanitizers, as consumers become more conscious of the environmental impact of their choices.

Local special circumstances: Malta's tourism industry plays a significant role in driving the demand for hand sanitizers. As a popular tourist destination, the country attracts a large number of international visitors who are conscious of their health and hygiene. This results in a higher demand for hand sanitizers in hotels, restaurants, and other public spaces. Furthermore, the Maltese government has implemented stringent health and safety measures to protect both residents and tourists, which includes the mandatory use of hand sanitizers in certain establishments.

Underlying macroeconomic factors: The growing hand sanitizer market in Malta can also be attributed to the country's strong economic performance. With a stable and prosperous economy, consumers have higher disposable incomes, allowing them to spend more on personal care products such as hand sanitizers. Additionally, the government's efforts to promote health and hygiene through public awareness campaigns have further contributed to the increasing demand for hand sanitizers. In conclusion, the Hand Sanitizer (Pharmacies) market in Malta is witnessing significant growth due to changing customer preferences, global trends, and local special circumstances. The increasing demand for hand sanitizers can be attributed to a growing awareness of the importance of hand hygiene, the impact of the COVID-19 pandemic, and the country's thriving tourism industry. Furthermore, Malta's strong economy and government initiatives have also played a role in driving the market's growth.

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.