Market Insights Health OTC Pharmaceuticals

Hand Sanitizer - Argentina

Argentina

In 2024, the revenue in the Hand Sanitizer market market in Argentina amounts to US$25.55m.
It is projected that the market will experience an annual growth rate of 5.45% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue with US$643.50m in 2024.
In terms of per person revenues, in Argentina generates US$0.55 in 2024.
As the demand for hand sanitizers continues to rise in Argentina, local pharmaceutical companies are focusing on developing innovative and affordable products to cater to the needs of the population.

Key regions: Germany, Europe, United States, Brazil, India

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Analyst Opinion

The Hand Sanitizer market in Argentina has experienced significant growth in recent years, driven by changing customer preferences and global trends.

Customer preferences: Customers in Argentina have become increasingly concerned about personal hygiene and the spread of germs, leading to a higher demand for hand sanitizers. The COVID-19 pandemic has further accelerated this trend, as people are now more aware of the importance of hand hygiene in preventing the spread of diseases. Additionally, the convenience and ease of use of hand sanitizers have made them a popular choice among consumers, especially in urban areas where people are constantly on the go.

Trends in the market: One of the key trends in the hand sanitizer market in Argentina is the rising demand for natural and organic products. As consumers become more health-conscious, they are seeking products that are free from harmful chemicals and are made from natural ingredients. This has led to the introduction of a wide range of organic hand sanitizers in the market, catering to this growing segment of environmentally-conscious consumers.Another trend in the market is the increasing popularity of hand sanitizers with added moisturizing properties. Regular use of hand sanitizers can cause dryness and irritation, and consumers are now looking for products that not only kill germs but also keep their hands moisturized. Hand sanitizers with moisturizing ingredients such as aloe vera and vitamin E have gained traction in the market, as they provide an added benefit to consumers.

Local special circumstances: Argentina has a large population and is characterized by a high population density in urban areas. This has contributed to the higher demand for hand sanitizers, as people are more likely to come into contact with germs in crowded places. Additionally, the country has a well-developed healthcare system, which has played a crucial role in raising awareness about the importance of hand hygiene and promoting the use of hand sanitizers.

Underlying macroeconomic factors: The Hand Sanitizer market in Argentina has also been influenced by macroeconomic factors. The country has experienced economic challenges in recent years, including high inflation and currency depreciation. This has led to a decline in consumer purchasing power and a shift towards more affordable products. As a result, there has been a growing demand for budget-friendly hand sanitizers, which has prompted manufacturers to introduce lower-priced variants to cater to this segment of price-sensitive consumers.In conclusion, the Hand Sanitizer market in Argentina has witnessed significant growth due to changing customer preferences, including a focus on personal hygiene and the convenience of hand sanitizers. The market has also been influenced by global trends, such as the demand for natural and organic products and hand sanitizers with moisturizing properties. Local special circumstances, such as a high population density and a well-developed healthcare system, have further contributed to the growth of the market. Additionally, macroeconomic factors, including economic challenges and a shift towards more affordable products, have shaped the market dynamics in Argentina.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.