Market Insights Health OTC Pharmaceuticals

Sleep Aids - Qatar

Qatar

In 2024, the Sleep Aids market market in Qatar is projected to earn a revenue of US$2.21m.
Furthermore, it is anticipated that the market will experience an annual growth rate of 4.62% (CAGR 2024-2029).
When compared to other countries across the globe, the in the United States leads the pack with a revenue of US$2,103.00m in 2024.
Additionally, in terms of per capita figures, each person in Qatar is expected to generate a revenue of US$0.81 in 2024.
Qatar's OTC Sleep Aids market is witnessing a surge in demand due to the country's fast-paced lifestyle and high stress levels.

Key regions: Europe, Germany, Canada, United Kingdom, United States

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Analyst Opinion

The Sleep Aids market in Qatar has been experiencing steady growth over the past few years. Customer preferences for sleep aids have been influenced by a number of factors, including increasing awareness about the importance of sleep and the rising prevalence of sleep disorders.

Customer preferences: In Qatar, customers are increasingly seeking sleep aids to improve the quality of their sleep. This is driven by a growing understanding of the negative impact of sleep deprivation on overall health and well-being. As a result, there is a high demand for sleep aids that can help individuals fall asleep faster, stay asleep longer, and wake up feeling refreshed. Customers are also looking for natural and organic sleep aids that are free from harmful chemicals and have minimal side effects.

Trends in the market: One of the key trends in the Sleep Aids market in Qatar is the growing popularity of melatonin supplements. Melatonin is a hormone that regulates sleep-wake cycles, and its supplementation has been found to be effective in treating sleep disorders such as insomnia. Customers are increasingly turning to melatonin supplements as a natural and non-addictive alternative to prescription sleep medications. The availability of melatonin supplements over-the-counter has also contributed to their popularity.Another trend in the market is the increasing use of sleep tracking devices and apps. These devices and apps monitor an individual's sleep patterns and provide insights into the quality and duration of their sleep. Customers are using these tools to better understand their sleep habits and make lifestyle changes to improve their sleep. This trend is driven by the growing interest in self-care and personal health monitoring.

Local special circumstances: Qatar has a high prevalence of sleep disorders, with a significant portion of the population reporting difficulty falling asleep or staying asleep. This has created a strong demand for sleep aids in the country. Additionally, Qatar has a high expatriate population, many of whom come from countries where sleep aids are readily available. This has contributed to the growth of the Sleep Aids market in Qatar as these individuals continue to seek sleep aids in their new home country.

Underlying macroeconomic factors: The Sleep Aids market in Qatar is also influenced by underlying macroeconomic factors. Qatar has a high per capita income and a strong healthcare system, which allows individuals to afford and access sleep aids. Additionally, the government of Qatar has been actively promoting health and wellness initiatives, which has increased awareness about sleep disorders and the importance of sleep. This has further fueled the demand for sleep aids in the market.In conclusion, the Sleep Aids market in Qatar is experiencing growth due to increasing customer preferences for sleep aids, including melatonin supplements and sleep tracking devices. The high prevalence of sleep disorders in the country and the strong healthcare system also contribute to the market's development.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

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 data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us 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, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. 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. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.