Sleep Aids - Oman | Statista Market Forecast

Sleep Aids - Oman

Oman

Highlights

Revenue in the Sleep Aids market amounts to US$985.20k in 2024. The market is expected to grow annually by 3.32% (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$0.21 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Sleep Aids market in Oman is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Customers in Oman are increasingly seeking sleep aids to address sleep-related issues such as insomnia and sleep apnea. This is driven by the rising awareness about the importance of good sleep for overall health and well-being. Consumers are also becoming more open to trying out different sleep aids, including natural remedies, over-the-counter medications, and prescription drugs. Additionally, the convenience of online shopping has made it easier for customers to access a wide range of sleep aids and make informed purchasing decisions.

Trends in the market: One of the key trends in the Sleep Aids market in Oman is the growing demand for natural and herbal sleep aids. Customers are increasingly looking for products that are free from harmful chemicals and have minimal side effects. This trend is in line with the global shift towards natural and organic products in various industries. Manufacturers are responding to this trend by introducing sleep aids made from natural ingredients such as herbs, essential oils, and plant extracts. Another trend in the market is the increasing availability of sleep aids specifically designed for different age groups and specific sleep issues. For example, there are sleep aids targeted towards children, adults, and the elderly, each addressing their unique sleep-related needs. This customization allows customers to choose products that are tailored to their specific requirements, further driving the growth of the market.

Local special circumstances: The Sleep Aids market in Oman is also influenced by local special circumstances. Oman has a high prevalence of sleep disorders, including insomnia and sleep apnea, which has created a significant demand for sleep aids. The lifestyle and work culture in Oman, characterized by long working hours and high stress levels, contribute to sleep disturbances among the population. As a result, there is a growing need for effective sleep aids to help individuals improve their sleep quality and overall health.

Underlying macroeconomic factors: The growth of the Sleep Aids market in Oman is also supported by underlying macroeconomic factors. The country has been experiencing steady economic growth, leading to an increase in disposable income among the population. This allows consumers to spend more on healthcare and wellness products, including sleep aids. Additionally, the government's focus on healthcare and wellness initiatives has created a favorable environment for the market to thrive. In conclusion, the Sleep Aids market in Oman is witnessing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for sleep aids is driven by the rising awareness about the importance of good sleep and the need to address sleep-related issues. The market is also influenced by the increasing popularity of natural and herbal sleep aids, as well as the availability of products tailored to different age groups and specific sleep issues. The high prevalence of sleep disorders in Oman and the country's economic growth further contribute to the growth of the 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.