Market Insights Health Pharmacies OTC Products

Hand Sanitizer (Pharmacies) - Turkey

Turkey

Revenue in the Hand Sanitizer market is projected to reach US$1,188.00k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of NaN%, resulting in a market volume of US$-371.30k by 2028.
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$0.01 are generated in 2024.

Key regions: Japan, Germany, Europe, Australia, France

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Analyst Opinion

The Hand Sanitizer (Pharmacies) market in Turkey has been experiencing significant growth in recent years.

Customer preferences: Customers in Turkey have shown a growing preference for hand sanitizers, especially those available in pharmacies. This can be attributed to increasing awareness about the importance of hand hygiene in preventing the spread of diseases. Additionally, the convenience of purchasing hand sanitizers from pharmacies, which are easily accessible and trusted sources, has contributed to the popularity of this distribution channel.

Trends in the market: One of the key trends in the Hand Sanitizer (Pharmacies) market in Turkey is the increasing demand for natural and organic products. Consumers are becoming more conscious about the ingredients used in hand sanitizers and are opting for products that are free from harmful chemicals. This trend is in line with the global shift towards natural and sustainable products. As a result, pharmacies in Turkey are now offering a wider range of natural and organic hand sanitizers to cater to this growing demand. Another trend in the market is the rising popularity of hand sanitizers with moisturizing properties. Regular use of hand sanitizers can cause dryness and irritation, leading to discomfort for some users. To address this issue, manufacturers have introduced hand sanitizers that contain moisturizing ingredients such as aloe vera or glycerin. These products provide an added benefit of keeping the hands moisturized while effectively killing germs. The availability of such moisturizing hand sanitizers in pharmacies has resonated well with customers in Turkey.

Local special circumstances: Turkey has a large population and is a popular tourist destination, attracting millions of visitors each year. This has contributed to the high demand for hand sanitizers in the country. Turkish consumers are increasingly using hand sanitizers not only in their daily lives but also during travel, making it a necessity for many. Pharmacies, being easily accessible in both urban and rural areas, have become the go-to place for purchasing hand sanitizers.

Underlying macroeconomic factors: The Hand Sanitizer (Pharmacies) market in Turkey has also been influenced by macroeconomic factors. The country has witnessed steady economic growth in recent years, which has resulted in an increase in disposable income. This has allowed consumers to spend more on personal hygiene products, including hand sanitizers. Additionally, the COVID-19 pandemic has further accelerated the demand for hand sanitizers, as people have become more conscious about maintaining hygiene and preventing the spread of the virus. The government's emphasis on public health and hygiene measures has also contributed to the growth of the hand sanitizer market. In conclusion, the Hand Sanitizer (Pharmacies) market in Turkey is experiencing growth due to customer preferences for convenient and trusted sources, the increasing demand for natural and moisturizing hand sanitizers, the country's large population and tourist influx, and favorable macroeconomic factors such as economic growth and the impact of the COVID-19 pandemic.

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.