Anxiety and Related Sleep Disorders - Sri Lanka

Revenue in the Anxiety and Related Sleep Disorders market is projected to reach US$10.29m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.88%, resulting in a market volume of US$10.75m 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$9.76 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 Sri Lanka is experiencing significant growth due to increasing customer preferences for natural remedies, rising awareness about mental health, and the country's unique local special circumstances. Customer preferences in the Anxiety and Related Sleep Disorders market in Sri Lanka are shifting towards natural remedies and alternative therapies. Consumers are becoming more conscious about the potential side effects of pharmaceutical drugs and are seeking safer and more holistic treatment options. This has led to an increased demand for herbal supplements, aromatherapy products, and relaxation techniques. Additionally, there is a growing interest in mindfulness practices and meditation, which are known to reduce anxiety and improve sleep quality.Trends in the Anxiety and Related Sleep Disorders market in Sri Lanka are also influenced by the rising awareness about mental health. The stigma surrounding mental health issues is gradually diminishing, and people are becoming more open to seeking help for anxiety and sleep disorders. This has led to an increase in the number of individuals seeking professional assistance from psychologists, psychiatrists, and sleep specialists. As a result, there is a growing demand for counseling services, cognitive behavioral therapy, and sleep clinics in the country.Local special circumstances in Sri Lanka contribute to the development of the Anxiety and Related Sleep Disorders market. The country has a rich tradition of Ayurveda, a holistic healing system that originated in India and is widely practiced in Sri Lanka. Ayurvedic treatments, which include herbal medicines, massages, and lifestyle modifications, are gaining popularity as an alternative approach to managing anxiety and sleep disorders. The availability of Ayurvedic clinics and wellness centers across the country provides consumers with convenient access to these traditional treatments.Underlying macroeconomic factors also play a role in the growth of the Anxiety and Related Sleep Disorders market in Sri Lanka. The country's improving economic conditions and rising disposable income levels have allowed more individuals to prioritize their mental well-being. As people become more financially stable, they are willing to invest in products and services that can improve their quality of life, including those related to anxiety and sleep disorders. Additionally, the government's focus on healthcare and wellness initiatives has further contributed to the development of the market.In conclusion, the Anxiety and Related Sleep Disorders market in Sri Lanka is witnessing growth due to customer preferences for natural remedies, increasing awareness about mental health, the country's local special circumstances, and underlying macroeconomic factors. The shift towards natural remedies, rising awareness about mental health, and the availability of Ayurvedic treatments are driving the market's development. The improving economic conditions and government initiatives in healthcare and wellness also contribute to the market's growth.

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.