Key regions: Philippines, Indonesia, United Kingdom, Canada, Thailand
The Sleep Aids market in Egypt has been experiencing steady growth in recent years.
Customer preferences: Customers in Egypt are increasingly seeking sleep aids to help them combat sleep disorders and improve the quality of their sleep. This trend is driven by several factors, including the high levels of stress and anxiety in the country, as well as the growing awareness of the importance of good sleep for overall health and well-being. Additionally, the increasing urbanization and modernization in Egypt have led to changes in lifestyle and work patterns, resulting in more people experiencing sleep disturbances.
Trends in the market: One of the key trends in the Sleep Aids market in Egypt is the growing demand for natural and herbal sleep aids. Customers are becoming more conscious of the potential side effects of synthetic sleep aids and are opting for natural alternatives. This trend is in line with the global shift towards natural and organic products in various industries, including the healthcare sector. Another trend in the market is the rising popularity of sleep tracking devices and apps. These devices and apps help individuals monitor their sleep patterns and provide insights into their sleep quality. This trend is driven by the increasing use of smartphones and wearable technology in Egypt, as well as the growing interest in self-monitoring and personal health tracking.
Local special circumstances: Egypt has a large population, with a significant portion of the population suffering from sleep disorders. This creates a sizable market for sleep aids in the country. Additionally, the healthcare infrastructure in Egypt is improving, with more people having access to healthcare services and seeking treatment for sleep disorders. This, in turn, drives the demand for sleep aids.
Underlying macroeconomic factors: The Sleep Aids market in Egypt is also influenced by macroeconomic factors. The country has been experiencing economic growth in recent years, resulting in higher disposable incomes and increased consumer spending. This has a positive impact on the Sleep Aids market, as more people are able to afford sleep aids and are willing to invest in products that can improve their sleep quality. Furthermore, the aging population in Egypt is also contributing to the growth of the Sleep Aids market. As people age, they are more likely to experience sleep disorders and seek treatment for them. This demographic trend is expected to continue in the coming years, further driving the demand for sleep aids. In conclusion, the Sleep Aids market in Egypt is growing due to customer preferences for natural and herbal sleep aids, the rising popularity of sleep tracking devices and apps, the high prevalence of sleep disorders in the country, and the underlying macroeconomic factors such as economic growth and an aging population.
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.
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