Anxiety and Related Sleep Disorders - New Zealand

Revenue in the Anxiety and Related Sleep Disorders market is projected to reach US$4.12m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.57%, resulting in a market volume of US$4.24m 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$7.81 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 New Zealand is experiencing significant growth due to changing customer preferences and increasing awareness of mental health issues.

Customer preferences: Customers in New Zealand are increasingly prioritizing their mental health and well-being, leading to a growing demand for products and services related to anxiety and sleep disorders. This is driven by a greater understanding of the importance of mental health and the recognition that anxiety and sleep disorders can have a significant impact on overall well-being. As a result, there is a strong preference for products and services that can help manage and alleviate these conditions.

Trends in the market: One of the key trends in the Anxiety and Related Sleep Disorders market in New Zealand is the growing popularity of natural and holistic remedies. Customers are seeking out products that are perceived as more natural and gentle on the body, such as herbal supplements, aromatherapy, and mindfulness practices. This trend is in line with the broader movement towards natural and organic products in the health and wellness industry.Another trend in the market is the increasing use of technology to track and manage anxiety and sleep disorders. Customers are turning to smartphone apps, wearable devices, and online platforms to monitor their symptoms, track their progress, and access resources and support. This trend is driven by the convenience and accessibility of digital solutions, as well as the desire for personalized and data-driven approaches to managing mental health.

Local special circumstances: In New Zealand, there is a strong cultural emphasis on holistic health and well-being. Traditional Maori healing practices, such as rongoa (traditional herbal medicine) and mirimiri (massage), are still widely used and valued in the country. This cultural context contributes to the preference for natural and holistic remedies in the Anxiety and Related Sleep Disorders market.Additionally, New Zealand has a high rate of mental health issues compared to other developed countries. This may be attributed to factors such as high levels of stress, social isolation, and a lack of access to mental health services in some regions. The prevalence of mental health issues in the country creates a significant market opportunity for products and services that address anxiety and sleep disorders.

Underlying macroeconomic factors: New Zealand has a stable and growing economy, which provides a favorable environment for the development of the Anxiety and Related Sleep Disorders market. The country has a high standard of living and disposable income levels, allowing customers to prioritize their mental health and invest in products and services that can help manage anxiety and sleep disorders.Furthermore, the New Zealand government has made mental health a priority and has invested in initiatives to improve access to mental health services. This increased focus on mental health at the national level is likely to contribute to the growth of the Anxiety and Related Sleep Disorders market, as it raises awareness and reduces the stigma associated with these conditions.In conclusion, the Anxiety and Related Sleep Disorders market in New Zealand is experiencing growth due to changing customer preferences, increasing awareness of mental health issues, and favorable macroeconomic factors. The market is characterized by a preference for natural and holistic remedies, the use of technology for tracking and managing conditions, and a cultural emphasis on holistic health. The high prevalence of mental health issues in the country and the government's focus on mental health further contribute to the growth of the market.

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.