Key regions: United States, Germany, Australia, India, United Kingdom
The Sleep Aids (Pharmacies) market in BRICS countries is experiencing significant growth due to a variety of factors. Customer preferences for sleep aids are shifting, and there are several trends in the market that are driving this growth. Additionally, there are local special circumstances and underlying macroeconomic factors that are contributing to the development of the market.
Customer preferences: Customers in BRICS countries are increasingly seeking sleep aids to help them combat sleep disorders and improve their quality of sleep. This is due to factors such as increased stress levels, longer working hours, and a growing awareness of the importance of sleep for overall health and well-being. As a result, there is a rising demand for sleep aids in the market.
Trends in the market: One of the key trends in the Sleep Aids (Pharmacies) market in BRICS countries is the growing popularity of natural and herbal sleep aids. Customers are becoming more conscious of the potential side effects of pharmaceutical sleep aids and are seeking alternatives that are perceived to be safer and more natural. This trend is driving the growth of natural and herbal sleep aids in the market. Another trend in the market is the increasing availability of sleep aids in pharmacies. Pharmacies are expanding their product offerings to meet the growing demand for sleep aids, and customers are finding it more convenient to purchase these products from their local pharmacy. This trend is leading to increased sales and market penetration for sleep aids in pharmacies.
Local special circumstances: In Brazil, for example, the high prevalence of sleep disorders and the lack of access to specialized sleep clinics have contributed to the growth of the Sleep Aids (Pharmacies) market. Customers in Brazil are turning to sleep aids available in pharmacies as a more accessible and affordable solution to their sleep problems. In Russia, the aging population and the increasing incidence of sleep disorders among older adults have fueled the demand for sleep aids. Pharmacies in Russia are capitalizing on this trend by offering a wide range of sleep aids targeted specifically at the elderly population.
Underlying macroeconomic factors: The Sleep Aids (Pharmacies) market in BRICS countries is also influenced by underlying macroeconomic factors. For example, the rising disposable incomes in China and India have led to increased consumer spending on healthcare products, including sleep aids. The growing middle class in these countries is becoming more health-conscious and willing to invest in products that promote better sleep. In South Africa, the increasing urbanization and changing lifestyles have contributed to the growth of the Sleep Aids (Pharmacies) market. As more people migrate to urban areas and adopt sedentary lifestyles, sleep disorders are becoming more prevalent. This has created a demand for sleep aids in pharmacies. Overall, the Sleep Aids (Pharmacies) market in BRICS countries is developing due to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. As the demand for sleep aids continues to rise, pharmacies in BRICS countries are well-positioned to capitalize on this growth and expand their market share.
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.
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