Market Insights Health Pharmacies OTC Products

Hand Sanitizer (Pharmacies) - Sierra Leone

Sierra Leone

Revenue in the Hand Sanitizer market is projected to reach US$423.70k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.74%, resulting in a market volume of US$534.10k 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$0.05 are generated in 2024.

Key regions: Japan, United States, Europe, United Kingdom, Canada

Market

Region

Region comparison

Currency

Analyst Opinion

The Hand Sanitizer (Pharmacies) market in Sierra Leone has experienced significant growth in recent years, driven by changing customer preferences and increasing awareness of the importance of hand hygiene. Customer preferences have shifted towards using hand sanitizers as a convenient and effective way to kill germs and prevent the spread of diseases. With the rise of infectious diseases such as COVID-19, people have become more conscious of their personal hygiene and are seeking products that can provide them with protection. Hand sanitizers have become a popular choice due to their portability and ease of use, making them a convenient option for on-the-go sanitization. In addition to the global trend, Sierra Leone has its own local special circumstances that have contributed to the growth of the hand sanitizer market. The country has a tropical climate, which is conducive to the spread of certain diseases. This has created a greater need for hand sanitizers as a preventive measure against illnesses. Furthermore, Sierra Leone has a growing population and an increasing urbanization rate, which has led to higher demand for personal care products, including hand sanitizers. The market has also been influenced by underlying macroeconomic factors. Sierra Leone has seen steady economic growth in recent years, which has resulted in an increase in disposable income among the population. As a result, more people are able to afford hand sanitizers and are willing to invest in their health and well-being. Additionally, the government has taken steps to promote good hygiene practices and has encouraged the use of hand sanitizers, which has further contributed to the market growth. Looking ahead, the Hand Sanitizer (Pharmacies) market in Sierra Leone is expected to continue its growth trajectory. The ongoing pandemic has heightened awareness of the importance of hand hygiene, and this increased consciousness is likely to persist even after the pandemic subsides. As a result, the demand for hand sanitizers is expected to remain strong. In conclusion, the Hand Sanitizer (Pharmacies) market in Sierra Leone has experienced significant growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The market is expected to continue its upward trajectory as the importance of hand hygiene remains in the forefront of people's minds.

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.