Market Insights Health Pharmacies OTC Products

Sleep Aids (Pharmacies) - Bhutan

Bhutan

Revenue in the Sleep Aids market is projected to reach US$0.00 in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of NaN%, resulting in a market volume of US$0.00 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$0.00 are generated in 2024.

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

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Analyst Opinion

The Sleep Aids (Pharmacies) market in Bhutan has been experiencing steady growth in recent years.

Customer preferences: Customers in Bhutan are increasingly seeking sleep aids to address their sleep-related issues. This can be attributed to several factors, including changing lifestyles, increased stress levels, and a growing awareness of the importance of good sleep for overall health and well-being. As a result, there is a rising demand for sleep aids in the country.

Trends in the market: One of the key trends in the Sleep Aids (Pharmacies) market in Bhutan is the growing popularity of natural and herbal sleep aids. Customers are increasingly opting for products that are perceived to be safer and have fewer side effects. This trend is in line with the global shift towards natural and organic products in the healthcare industry. Another trend in the market is the increasing availability of sleep aids in pharmacies. Pharmacies are expanding their product offerings to cater to the growing demand for sleep aids. This not only provides customers with convenience but also ensures that they have access to a wide range of products to choose from.

Local special circumstances: Bhutan is known for its focus on holistic well-being and the promotion of traditional medicine. This has led to a preference for natural and herbal remedies among the population. As a result, there is a strong demand for sleep aids that are derived from natural ingredients and have traditional healing properties. This preference for natural remedies is a unique characteristic of the Sleep Aids (Pharmacies) market in Bhutan.

Underlying macroeconomic factors: The growing Sleep Aids (Pharmacies) market in Bhutan can also be attributed to the country's improving economic conditions. As the economy grows, people have more disposable income to spend on healthcare products, including sleep aids. Additionally, the government's focus on healthcare and well-being has led to increased awareness and investment in sleep-related products and services. In conclusion, the Sleep Aids (Pharmacies) market in Bhutan is developing due to changing customer preferences, including a growing demand for natural and herbal sleep aids. The increasing availability of sleep aids in pharmacies and the country's focus on holistic well-being are also contributing to the market's growth. Furthermore, the improving macroeconomic conditions in Bhutan are providing people with more disposable income to spend on healthcare products, including 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.