Market Insights Consumer OTC Pharmaceuticals

Sleep Aids - Saudi Arabia

Saudi Arabia

Revenue in the Sleep Aids market amounts to US$17.16m in 2024. The market is expected to grow annually by 3.32% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$2,103m in 2024).
In relation to total population figures, per person revenues of US$0.46 are generated in 2024.

Key regions: Philippines, Indonesia, United Kingdom, Canada, Thailand

Market

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Analyst Opinion

The Sleep Aids market in Saudi Arabia has been experiencing significant growth in recent years.

Customer preferences: Saudi Arabia has a high prevalence of sleep disorders, with a large portion of the population experiencing difficulties falling asleep or staying asleep. This has led to a growing demand for sleep aids in the country. Additionally, the increasing awareness about the importance of a good night's sleep for overall health and well-being has also contributed to the rise in demand for sleep aids.

Trends in the market: One of the key trends in the Sleep Aids market in Saudi Arabia is the shift towards natural and herbal sleep aids. Consumers are becoming more conscious about the potential side effects of synthetic sleep aids and are seeking safer alternatives. As a result, there has been a growing demand for natural ingredients such as valerian root, chamomile, and melatonin in sleep aids. Manufacturers are responding to this trend by introducing a wide range of natural sleep aid products in the market. Another trend in the Sleep Aids market in Saudi Arabia is the increasing availability of sleep aids in different formats. Traditionally, sleep aids were available in the form of pills or capsules. However, there has been a shift towards more convenient and user-friendly formats such as gummies, sprays, and patches. These new formats are not only more appealing to consumers but also offer a more targeted and fast-acting solution for sleep problems.

Local special circumstances: Saudi Arabia has a large young population, with a significant portion of the population being under the age of 30. This demographic group is more likely to experience sleep disorders due to factors such as stress, irregular sleep patterns, and excessive use of electronic devices. As a result, there is a growing demand for sleep aids among young adults in the country.

Underlying macroeconomic factors: The Sleep Aids market in Saudi Arabia is also influenced by the overall economic conditions in the country. The Saudi Arabian economy has been diversifying in recent years, with a focus on non-oil sectors such as healthcare and tourism. This has led to an increase in disposable income and a higher standard of living, which in turn has contributed to the growth of the Sleep Aids market. Additionally, the government's efforts to promote health and wellness among its citizens have also played a role in driving the demand for sleep aids. In conclusion, the Sleep Aids market in Saudi Arabia is witnessing significant growth due to customer preferences for natural and herbal sleep aids, the availability of sleep aids in different formats, the high prevalence of sleep disorders among the young population, and the overall economic conditions in the country.

Methodology

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.