Key regions: United States, Germany, Australia, India, United Kingdom
The Sleep Aids (Pharmacies) market in Israel has been experiencing steady growth in recent years. Customer preferences for sleep aids have shifted towards natural and herbal remedies, driving the demand for these products. Additionally, the market has been influenced by local special circumstances and underlying macroeconomic factors.
Customer preferences: In line with global trends, customers in Israel are increasingly seeking natural and herbal sleep aids. This shift can be attributed to growing awareness about the potential side effects of conventional sleep medications. Consumers are becoming more health-conscious and are opting for products that are perceived as safer and more sustainable. As a result, there has been a rise in the demand for sleep aids made from natural ingredients such as melatonin, valerian root, and chamomile.
Trends in the market: The Sleep Aids (Pharmacies) market in Israel is witnessing several key trends. Firstly, there is a growing demand for sleep aids that address specific sleep disorders such as insomnia and sleep apnea. Manufacturers are responding to this trend by developing specialized products that target these conditions. Secondly, there is an increasing focus on product innovation and differentiation. Companies are introducing new formulations and delivery methods to cater to the diverse needs and preferences of consumers. For example, there has been a rise in the availability of sleep aids in the form of gummies, sprays, and teas. Lastly, online sales of sleep aids have been on the rise, driven by the convenience and accessibility offered by e-commerce platforms.
Local special circumstances: Israel has a unique demographic profile, with a significant portion of the population belonging to older age groups. This demographic factor contributes to the demand for sleep aids, as older individuals are more likely to experience sleep-related issues. Additionally, the high-stress lifestyle prevalent in Israeli society also contributes to the demand for sleep aids. Many individuals turn to sleep aids to help manage stress and improve the quality of their sleep.
Underlying macroeconomic factors: The Sleep Aids (Pharmacies) market in Israel is influenced by several macroeconomic factors. Firstly, the country's strong healthcare infrastructure and high healthcare expenditure contribute to the availability and accessibility of sleep aids in pharmacies. The government's focus on promoting healthcare and wellness further supports the growth of the market. Secondly, the increasing disposable income of the population allows consumers to afford sleep aids, even though they may be priced at a premium compared to conventional medications. Lastly, the rising prevalence of sleep disorders and the growing awareness of the importance of sleep in overall health and well-being are driving the demand for sleep aids. In conclusion, the Sleep Aids (Pharmacies) market in Israel is experiencing growth due to customer preferences for natural and herbal remedies, as well as the influence of local special circumstances and underlying macroeconomic factors. The market is characterized by a shift towards natural sleep aids, the development of specialized products, and the rise of online sales. The unique demographic profile of Israel and the high-stress lifestyle contribute to the demand for sleep aids, while the country's strong healthcare infrastructure and increasing disposable income support the market's growth.
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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