Hand Sanitizer (Pharmacies) - Singapore

Singapore

Highlights

Revenue in the Hand Sanitizer market is projected to reach US$11.51m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.77%, resulting in a market volume of US$13.84m by 2029.
In global comparison, most revenue will be generated China (US$385.20m in 2024).
In relation to total population figures, per person revenues of US$1.90 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Hand Sanitizer (Pharmacies) market in Singapore is experiencing significant growth due to changing customer preferences and local special circumstances.

Customer preferences: Customers in Singapore have become increasingly conscious about personal hygiene and the importance of hand sanitization. This shift in mindset is driven by various factors, including the rising awareness of the importance of hand hygiene in preventing the spread of infectious diseases. Additionally, the COVID-19 pandemic has further emphasized the need for hand sanitizers as a convenient and effective way to maintain cleanliness on-the-go.

Trends in the market: The demand for hand sanitizers in Singapore has surged in recent years, leading to a growing market for hand sanitizers in pharmacies. This trend can be attributed to the increasing number of health-conscious individuals who prioritize cleanliness and hygiene. Furthermore, the convenience of purchasing hand sanitizers from pharmacies, which are easily accessible across the country, has contributed to the market growth.

Local special circumstances: Singapore is known for its high population density and bustling urban environment. These factors create an environment where the transmission of infectious diseases can occur more easily. As a result, individuals in Singapore are more inclined to take preventive measures, such as using hand sanitizers, to protect themselves from potential health risks. Additionally, the government of Singapore has implemented stringent hygiene regulations and campaigns to promote public health, further driving the demand for hand sanitizers in the market.

Underlying macroeconomic factors: Singapore has a strong healthcare system and a high standard of living, which contributes to the increasing demand for hand sanitizers in pharmacies. The country's robust economy and high disposable income levels enable individuals to prioritize their health and invest in personal hygiene products. Furthermore, Singapore's strategic location as a major transportation hub in Southeast Asia makes it susceptible to the spread of infectious diseases. This factor, coupled with the country's proactive approach to public health, creates a favorable market environment for hand sanitizers in pharmacies. In conclusion, the Hand Sanitizer (Pharmacies) market in Singapore is experiencing significant growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The increasing awareness of hand hygiene, convenience of purchasing hand sanitizers from pharmacies, and the emphasis on public health in Singapore have all contributed to the expansion of the market. As the demand for hand sanitizers continues to rise, it is expected that the market will witness further growth in the coming years.

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.