Market Insights Health OTC Pharmaceuticals

Hand Sanitizer - Bosnia and Herzegovina

Bosnia and Herzegovina

In Bosnia and Herzegovina, the revenue in the Hand Sanitizer market market reaches US$1.56m in 2024.
It is projected that the market will experience an annual growth rate of 6.82% (CAGR 2024-2029).
When compared globally, the in the United States leads in terms of revenue generation, with an estimated revenue of US$643.50m in 2024.
In relation to the total population, each person generates a revenue of US$0.49 in 2024.
Hand sanitizer sales in Bosnia and Herzegovina have surged, driven by increased awareness of hygiene practices and the need for personal protection.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Hand Sanitizer market in Bosnia and Herzegovina has been experiencing significant growth in recent years.

Customer preferences: Customers in Bosnia and Herzegovina have shown a strong preference for hand sanitizers due to their convenience and effectiveness in killing germs and bacteria. The COVID-19 pandemic has further increased the demand for hand sanitizers as people have become more conscious about personal hygiene and the importance of hand sanitization.

Trends in the market: One of the key trends in the Hand Sanitizer market in Bosnia and Herzegovina is the increasing popularity of alcohol-based hand sanitizers. Alcohol-based sanitizers are known to be more effective in killing germs and bacteria compared to non-alcohol-based sanitizers. As a result, there has been a shift in consumer preference towards alcohol-based hand sanitizers. Another trend in the market is the growing demand for travel-sized hand sanitizers. With the increase in travel and tourism in Bosnia and Herzegovina, especially during the summer months, there is a higher demand for portable hand sanitizers that can be easily carried in bags or pockets. This trend is also driven by the need for on-the-go hand sanitization in public places such as airports, bus stations, and tourist attractions.

Local special circumstances: Bosnia and Herzegovina is a country with a high population density, especially in urban areas. This, coupled with the increasing awareness about the importance of hand sanitization, has led to a surge in demand for hand sanitizers. The government and health authorities have also been actively promoting the use of hand sanitizers as a preventive measure against the spread of infectious diseases.

Underlying macroeconomic factors: The Hand Sanitizer market in Bosnia and Herzegovina is also influenced by various macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income among the population. This has resulted in higher consumer spending on personal care products, including hand sanitizers. Furthermore, the healthcare sector in Bosnia and Herzegovina has been witnessing significant development and investment, which has contributed to the growth of the Hand Sanitizer market. The government has been focusing on improving healthcare infrastructure and services, which has led to an increased emphasis on hygiene and cleanliness. This, in turn, has boosted the demand for hand sanitizers in healthcare facilities such as hospitals, clinics, and pharmacies. In conclusion, the Hand Sanitizer market in Bosnia and Herzegovina is experiencing growth due to customer preferences for convenient and effective hand sanitization methods. The increasing demand for alcohol-based hand sanitizers and travel-sized products reflects the changing needs of consumers. The local special circumstances, such as population density and government promotion of hand sanitizers, further drive the market growth. Additionally, underlying macroeconomic factors, including economic growth and development in the healthcare sector, contribute to the increasing demand for hand sanitizers in the country.

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.