Sleep Aids - Jordan

Jordan

Highlights

Revenue in the Sleep Aids market amounts to US$459.80k in 2024. The market is expected to grow annually by 5.87% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$2bn in 2024).
In relation to total population figures, per person revenues of US$0.04 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Sleep Aids market in Jordan is experiencing significant growth due to several factors.

Customer preferences: Customers in Jordan are increasingly seeking solutions to improve their sleep quality. The fast-paced lifestyle and high-stress levels have led to a rise in sleep disorders and insomnia. As a result, there is a growing demand for sleep aids that can help individuals achieve a restful night's sleep. Customers are particularly interested in natural and non-addictive sleep aids that promote relaxation and induce sleep without causing any side effects.

Trends in the market: One of the key trends in the Sleep Aids market in Jordan is the growing popularity of herbal and natural sleep aids. Customers are becoming more conscious about the ingredients used in sleep aids and are opting for products that contain natural herbs and botanical extracts known for their calming and sleep-inducing properties. This trend is in line with the global shift towards natural and holistic wellness solutions. Another trend in the market is the increasing availability of sleep aids in different formats. While traditional sleep aids such as pills and capsules continue to be popular, there is a rising demand for alternative formats such as teas, sprays, and gummies. These formats offer convenience and are appealing to customers who prefer non-traditional methods of consumption.

Local special circumstances: Jordan has a high prevalence of sleep disorders, with a significant portion of the population reporting difficulties in falling asleep or staying asleep. This has created a favorable market environment for sleep aids. Additionally, the government and healthcare organizations in Jordan are actively raising awareness about the importance of sleep hygiene and the impact of sleep disorders on overall health. This increased awareness is driving more people to seek sleep aids as a solution.

Underlying macroeconomic factors: Jordan has been experiencing steady economic growth, which has resulted in an increase in disposable income among the population. As a result, individuals are willing to spend more on products that can improve their quality of life, including sleep aids. The growing middle class in Jordan is a key driver of the Sleep Aids market, as they have the financial means to invest in products that promote better sleep. In conclusion, the Sleep Aids market in Jordan is witnessing significant growth due to customer preferences for natural sleep aids, the availability of sleep aids in different formats, the high prevalence of sleep disorders, and the country's economic growth. These factors are driving the demand for sleep aids and creating opportunities for companies operating in this market.

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.