Market Insights Health Pharmacies OTC Products

Sleep Aids (Pharmacies) - Burundi

Burundi

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 Burundi is experiencing steady growth due to changing customer preferences and increasing demand for sleep aids.

Customer preferences: Customers in Burundi are increasingly becoming aware of the importance of good sleep and are seeking ways to improve their sleep quality. This has led to a growing demand for sleep aids in the country. Additionally, the rise in stress levels and busy lifestyles has also contributed to the increased need for sleep aids among the population.

Trends in the market: One of the key trends in the Sleep Aids (Pharmacies) market in Burundi is the growing popularity of natural and herbal sleep aids. Customers are increasingly looking for natural alternatives to traditional sleep aids, as they perceive them 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. As a result, pharmacies in Burundi are expanding their range of natural sleep aids to cater to the changing customer preferences. Another trend in the market is the increasing availability of sleep aids in different forms. Customers now have a wide range of options to choose from, including tablets, capsules, and herbal teas. This variety allows customers to select a sleep aid that best suits their preferences and needs. Pharmacies in Burundi are actively stocking these different forms of sleep aids to cater to the diverse customer requirements.

Local special circumstances: Burundi is a developing country with a growing middle class population. As the standard of living improves, people are becoming more health-conscious and are willing to spend on products that can improve their well-being, including sleep aids. Additionally, the healthcare infrastructure in Burundi is also improving, with an increasing number of pharmacies opening up across the country. This has made sleep aids more accessible to the population, further contributing to the growth of the market.

Underlying macroeconomic factors: Burundi's economy has been growing steadily in recent years, which has resulted in an increase in disposable income among the population. As people have more money to spend, they are more likely to invest in products that can improve their quality of life, such as sleep aids. Furthermore, the government of Burundi has been actively promoting the healthcare sector, which has led to an increase in healthcare spending and the availability of healthcare products, including sleep aids. These macroeconomic factors are driving the growth of the Sleep Aids (Pharmacies) market in Burundi.

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.