Drivers –Hand Sanitizer Market
- Growing Market for surgical procedures particularly in APAC region
The number of surgical procedures is high in APAC, driven by the growing number of cosmetic surgeries being performed. Also, rising obesity has also resulted in an increase in the number of surgeries. Due to the increase in number of surgeries, the need for sanitizers in healthcare industries is on the rise.
- Rising Incidence of Chronic Diseases
Rising incidence of chronic diseases are driving the demand for hand sanitizers. According to WHO, the number of people who die from chronic diseases and infections are high. The increasing risk of hospital acquired infections and the rise in chronic diseases has led to growing focus on methods to reduce them. This has led to an increase in the usage of hand sanitizer which in turn drives the growth of this market.
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Challenges – Hand Sanitizer Market
- Stringent government hand sanitizer regulations
The FDA in U.S. has pressurized manufacturers to submit data regarding the long term health impact of hand sanitizers, particularly hormonal effects and contributors to anti-biotic resistant bacteria, to ascertain the safety of these hand sanitizer products. These regulations are to ensure the safety of consumers by regulating the chemicals being used in hand sanitizers.
Hand Sanitizer Industry Outlook
Product launches, Merger & Acquisitions, Joint ventures and R&D activities are some key strategies adopted by players in the Hand Sanitizer Market. Hand sanitizer top 10 companies are 3M Company, Best Sanitizers Inc., Chattem Inc., Gojo industries INC., Henkel AG & Company, KGaA, Kutol Products Company, Inc, Lion Corporation, Medline Industries, Inc., Nice-Pak Products, Inc., The Procter & Gamble Company, Reckitt Benckiser Group, Skinvisible Inc., Unilever Plc, Vi-Jon Laboratories among others.
- North America accounts for largest share accounting for 34% of the hand sanitizer market.
- However, APAC region is forecast to have the fastest growth with a CAGR of 12.6%.
- Disease outbreak and public health awareness campaigns are likely to increase the demand for hand sanitizers.
- Detailed analysis on the Strength, Weakness and opportunities of the prominent players operating in the market will be provided in the hand sanitizer market report.