Anxiety and Related Sleep Disorders - Taiwan

Revenue in the Anxiety and Related Sleep Disorders market is projected to reach US$119.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.08%, resulting in a market volume of US$145.90m 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$102.40 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 Taiwan has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for this growth is the increasing awareness and recognition of mental health issues in Taiwan. As people become more educated about anxiety and related sleep disorders, they are seeking out treatments and solutions to improve their overall well-being. Additionally, the high-stress lifestyle and competitive work environment in Taiwan have contributed to the rising prevalence of anxiety and sleep disorders, further driving the demand for related products and services.

Trends in the market: One major trend in the Anxiety and Related Sleep Disorders market in Taiwan is the growing popularity of natural and holistic remedies. Many consumers are seeking alternative treatments such as herbal supplements, acupuncture, and mindfulness practices to manage their symptoms. This trend is driven by a desire for more personalized and natural solutions, as well as a preference for avoiding the potential side effects of pharmaceutical medications.Another trend in the market is the increasing adoption of technology-based solutions. With the widespread use of smartphones and wearable devices, there has been a rise in the development of mobile applications and wearable gadgets that help individuals track and manage their anxiety and sleep patterns. These technological advancements provide users with real-time data and personalized recommendations, allowing for more effective self-management of symptoms.

Local special circumstances: Taiwan has a well-developed healthcare system and a strong emphasis on preventive care. As a result, there is a growing acceptance and integration of mental health services within the healthcare system. This has led to an increase in the availability and accessibility of treatment options for anxiety and related sleep disorders, including counseling services, therapy programs, and support groups. The government has also implemented initiatives to reduce the stigma surrounding mental health, further encouraging individuals to seek help and support.

Underlying macroeconomic factors: The strong economy and high disposable income levels in Taiwan have also contributed to the growth of the Anxiety and Related Sleep Disorders market. As individuals have more financial resources, they are willing to invest in their mental well-being and prioritize their overall health. Additionally, the aging population in Taiwan has created a greater demand for healthcare services, including those related to mental health. This demographic shift has further fueled the growth of the market.In conclusion, the Anxiety and Related Sleep Disorders market in Taiwan is experiencing significant growth due to increasing awareness, customer preferences for natural and holistic remedies, adoption of technology-based solutions, a well-developed healthcare system, and underlying macroeconomic factors such as a strong economy and high disposable income levels. As the market continues to evolve, it is expected that there will be further advancements in treatment options and an increased focus on mental health and well-being in Taiwan.

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.