Market Insights Health OTC Pharmaceuticals

Hand Sanitizer - Myanmar

Myanmar

In Myanmar, the revenue generated in the Hand Sanitizer market market is projected to reach US$3.80m by the year 2024.
It is estimated that the market will experience an annual growth rate of 4.16% (CAGR 2024-2029).
When compared to other countries around Worldwide, the in the United States stands out as the highest revenue generator with a projected amount of US$643.50m in 2024.
In terms of per capita figures, the revenue generated per person in Myanmar is approximately US$0.07 in 2024.
The demand for hand sanitizers in Myanmar has surged due to heightened awareness of hygiene practices during the COVID-19 pandemic.

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

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Analyst Opinion

The Hand Sanitizer market in Myanmar has experienced significant growth in recent years, driven by changing customer preferences and increasing awareness of the importance of hand hygiene. Customer preferences in Myanmar have shifted towards more convenient and portable hand hygiene solutions, such as hand sanitizers. This is due to the busy lifestyles of consumers, who are often on the go and require a quick and effective way to clean their hands. Additionally, the increasing number of health-conscious individuals in Myanmar has also contributed to the growing demand for hand sanitizers. Trends in the market indicate that there is a preference for alcohol-based hand sanitizers in Myanmar. Alcohol-based hand sanitizers are known to be more effective in killing germs and bacteria compared to their non-alcohol counterparts. This trend is in line with global market preferences, as alcohol-based hand sanitizers have been proven to be more effective in preventing the spread of diseases. Local special circumstances in Myanmar have also played a role in the development of the Hand Sanitizer market. The country's tropical climate and high humidity levels create an environment that is conducive to the growth of bacteria and germs. This has led to an increased awareness of the importance of hand hygiene and the need for effective hand sanitizers. Additionally, the recent COVID-19 pandemic has further heightened the demand for hand sanitizers in Myanmar, as individuals strive to protect themselves from the virus. Underlying macroeconomic factors have also contributed to the growth of the Hand Sanitizer market in Myanmar. The country's rapid economic growth has led to an increase in disposable income levels, allowing consumers to afford hand sanitizers as part of their daily hygiene routine. Furthermore, the government's efforts to promote public health and hygiene have also played a role in driving the demand for hand sanitizers. In conclusion, the Hand Sanitizer market in Myanmar has experienced significant growth due to changing customer preferences, increasing awareness of hand hygiene, local special circumstances, and underlying macroeconomic factors. The preference for alcohol-based hand sanitizers, driven by their effectiveness in killing germs, has been a key trend in the market. The tropical climate and high humidity levels in Myanmar, along with the recent COVID-19 pandemic, have further fueled the demand for hand sanitizers. The country's rapid economic growth and government initiatives to promote public health have also contributed to the growth of the market.

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.