Anxiety and Related Sleep Disorders - India

India

Revenue in the Anxiety and Related Sleep Disorders market is projected to reach US$216.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.49%, resulting in a market volume of US$221.70m by 2029.
In global comparison, most revenue will be generated in the United States (US$3,213.00m in 2024).
In relation to total population figures, per person revenues of US$4.19 are generated in 2024.

Key regions: China, United States, Germany, India, Canada

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Analyst Opinion

The Anxiety and Related Sleep Disorders market in India has been experiencing significant growth in recent years.

Customer preferences: Customers in India are increasingly seeking solutions for anxiety and sleep disorders due to the rising awareness about mental health and the importance of quality sleep. With the fast-paced lifestyle and increasing work-related stress, individuals are looking for effective ways to manage their anxiety and improve their sleep quality. They are willing to invest in products and services that can provide relief from these issues.

Trends in the market: One of the key trends in the Anxiety and Related Sleep Disorders market in India is the growing demand for natural and holistic remedies. Many customers are turning to alternative therapies such as Ayurveda, yoga, and meditation to manage their anxiety and sleep disorders. This trend is driven by the belief that natural remedies have fewer side effects and offer long-term benefits. As a result, there has been an increase in the availability of natural and herbal products in the market, including supplements, teas, and essential oils.Another trend in the market is the rise of digital solutions for anxiety and sleep disorders. With the increasing use of smartphones and internet penetration in India, customers are turning to mobile applications and online platforms for self-help and therapy sessions. These digital solutions provide convenience and accessibility, allowing individuals to access support and guidance from the comfort of their own homes.

Local special circumstances: India has a large population, and the prevalence of anxiety and sleep disorders is high. The fast-paced urban lifestyle, work-related stress, and the pressure to succeed contribute to the increasing prevalence of these conditions. Additionally, cultural factors such as the stigma associated with mental health issues have historically prevented individuals from seeking help. However, there has been a shift in recent years, with increased awareness and acceptance of mental health problems, leading to a greater demand for solutions.

Underlying macroeconomic factors: India's economy has been growing steadily, leading to an increase in disposable income and a higher standard of living for many individuals. This has resulted in a greater willingness to spend on healthcare and wellness products, including those related to anxiety and sleep disorders. Additionally, the government's focus on healthcare and wellness, as well as the implementation of policies to promote mental well-being, have also contributed to the growth of the market.In conclusion, the Anxiety and Related Sleep Disorders market in India is experiencing significant growth due to increasing customer preferences for natural and holistic remedies, the rise of digital solutions, the high prevalence of these conditions in the population, and the underlying macroeconomic factors such as growing disposable income and government initiatives.

Methodology

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.