Market Insights Health Pharmacies OTC Products

Sleep Aids (Pharmacies) - Angola

Angola

Revenue in the Sleep Aids market is projected to reach US$0.99m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.80%, resulting in a market volume of US$1.03m by 2029.
In global comparison, most revenue will be generated in the United States (US$1,473.00m in 2024).
In relation to total population figures, per person revenues of US$0.03 are generated in 2024.

Key regions: United States, Germany, Australia, India, United Kingdom

Market

Region

Region comparison

Currency

Analyst Opinion

The Sleep Aids (Pharmacies) market in Angola has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in the Sleep Aids (Pharmacies) market in Angola have shifted towards a greater focus on overall health and well-being. As people become more aware of the importance of a good night's sleep, they are seeking out sleep aids to help them achieve better sleep quality. This trend is not unique to Angola, but is part of a global movement towards prioritizing sleep and self-care. In addition to the global trend towards prioritizing sleep, there are also local special circumstances in Angola that have contributed to the growth of the Sleep Aids (Pharmacies) market. One such circumstance is the increasing urbanization and modernization of the country. As more people move to cities and adopt a more fast-paced lifestyle, they may experience higher levels of stress and difficulty sleeping. This has created a demand for sleep aids to help people relax and improve their sleep quality. Another local special circumstance in Angola is the growing middle class. As more people in Angola have disposable income, they are able to afford sleep aids and other health products. This has led to an increase in the demand for sleep aids in the country. Underlying macroeconomic factors have also played a role in the development of the Sleep Aids (Pharmacies) market in Angola. The country has experienced economic growth in recent years, which has led to an increase in consumer spending power. This has allowed more people to afford sleep aids and other health products. In conclusion, the Sleep Aids (Pharmacies) market in Angola has been growing due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. As people in Angola prioritize their health and well-being, they are seeking out sleep aids to improve their sleep quality. The increasing urbanization and modernization of the country, as well as the growing middle class, have also contributed to the growth of the market. Additionally, the economic growth in Angola has led to an increase in consumer spending power, allowing more people to afford sleep aids.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.