Anxiety and Related Sleep Disorders - Iceland

Revenue in the Anxiety and Related Sleep Disorders market is projected to reach US$8.22m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.29%, resulting in a market volume of US$8.34m by 2029.
In global comparison, most revenue will be generated United States (US$3.21bn in 2024).
In relation to total population figures, per person revenues of US$307.60 are generated in 2024.

The Anxiety and Related Sleep Disorders market covers sales of three drug classes: anxiolytics, hypnotics, and sedatives. These classes contain different types of drugs, such as benzodiazepines, anticonvulsants, and antihistamines, that reduce anxiety and insomnia symptoms caused by anxiety. These medications mainly fall into the category of prescription drugs.

Market values represent the revenues generated by manufacturers and are based on retail prices for each drug category including all drugs, regardless of whether they are reimbursed or not.

Company examples: Pfizer, Bristol-Myers Squibb, GlaxoSmithKline PLC, Johnson & Johnson, and Merck & Co.

Pharmaceutical sales and consumption of anxiolytics
Pharmaceutical sales and consumption hypnotics and sedatives

Non-mental health related sleep disorders
Any other anxiety medications
Psychotherapy

The Anxiety and Related Sleep Disorders market in Iceland has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.Customer preferences have played a key role in the growth of the Anxiety and Related Sleep Disorders market in Iceland. As the population becomes more aware of mental health issues and the importance of sleep, there has been an increased demand for products and services that address anxiety and sleep disorders. Consumers are seeking out solutions that can help them manage stress, improve sleep quality, and enhance their overall well-being.Trends in the market have also contributed to the growth of the Anxiety and Related Sleep Disorders market in Iceland. The global rise in mental health awareness has had a direct impact on the Icelandic market, as consumers are becoming more open to seeking help and investing in products and services that can address their mental health needs. This trend is reflected in the increasing number of clinics, therapists, and specialized sleep centers that have emerged in Iceland in recent years.Local special circumstances have further fueled the growth of the Anxiety and Related Sleep Disorders market in Iceland. The country's unique geography and climate, with long winter nights and limited daylight, can contribute to sleep disturbances and seasonal affective disorder (SAD). As a result, there is a higher prevalence of sleep disorders and anxiety-related issues in the population, creating a greater demand for products and services that can alleviate these conditions.Underlying macroeconomic factors have also played a role in the development of the Anxiety and Related Sleep Disorders market in Iceland. The country's strong economy and high standard of living have allowed consumers to have more disposable income, which they are willing to spend on products and services that can improve their mental health and sleep quality. Additionally, the government has recognized the importance of mental health and has implemented policies and initiatives to support the well-being of its citizens, further contributing to the growth of the market.In conclusion, the Anxiety and Related Sleep Disorders market in Iceland has experienced significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As the population becomes more aware of the importance of mental health and sleep, the demand for products and services that address anxiety and sleep disorders is expected to continue to grow in Iceland.

Data coverage:

Data encompasses B2C enterprises. Figures are based on companies' revenues, international institutes data, and global consumer survey data. Revenues refer to the retail value and include sales taxes.

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 financial reports and third-party data. Next, we use relevant key market indicators and data from country-specific associations such as healthcare spending per capita, medical product spending per capita, and gross domestic product per capita. This data helps us to 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, S-Curve function, ARIMA time series model and exponential curve function. Data is modeled using current exchange rates.

Additional Notes:

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. GCS data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Despite what some may think, mental health problems are common in the United States and around the world. Mental health issues, much like other health issues, can be mild, but can also be life altering, affecting the emotional, social, and psychological well-being of the person. Common types of mental illness include mood disorders, anxiety disorders, eating disorders, and personality disorders. Although symptoms of mental illness differ depending on the type of illness and seriousness of the problem, common symptoms of mental health issues include changes in sleeping and eating habits, social withdrawal, feelings of hopelessness, anger, and prolonged sadness, suicidal thoughts, and substance abuse. In 2022, it was estimated that around 36 percent of those in the U.S. aged 18 to 25 years and 29 percent of those aged 26 to 49 years suffered from some form of mental illness in the past year.