Sleep Aids (Pharmacies) - Italy | Statista Market Forecast

Revenue in the Sleep Aids market is projected to reach US$172.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.41%, resulting in a market volume of US$184.80m by 2029.
In global comparison, most revenue will be generated United States (US$1.47bn in 2024).
In relation to total population figures, per person revenues of US$2.94 are generated in 2024.

Definition:
The Sleep Aids market encompasses a diverse array of over-the-counter (OTC) medications and supplements designed to aid individuals in managing sleep-related disorders, including insomnia, sporadic sleep disruptions, and jetlag resulting from adjusting to different time zones. This market includes products containing ingredients such as Doxylamine Succinate, Diphenhydramine, Melatonin, and herbal remedies. Notable sleep aid products include Natrol Melatonin, Vitafusion, Alteril, Unisom SleepTabs, and Kalms. This market exclusively covers product sales through pharmacies.

Additional information:
The Sleep Aids market comprises revenues, average revenue per capita and average revenue per pharmacy. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Single Active Ingredient Formulations
Combination Active Ingredient Formulations
Herbal Remedies
Melatonin Products

Prescription Sleep Medications
Products for Chronic Insomnia which are not designed to address only occasional sleep challenges

The Sleep Aids (Pharmacies) market in Italy has seen significant growth in recent years, driven by changing customer preferences and trends in the market.

Customer preferences: Customers in Italy are increasingly seeking sleep aids to help them improve their quality of sleep. This is due to various factors such as high-stress levels, busy lifestyles, and an aging population. Many Italians are looking for natural and non-addictive sleep aids, which has led to a rise in demand for herbal and homeopathic sleep remedies. Additionally, there is a growing preference for sleep aids that are easily accessible and can be purchased without a prescription, leading to an increase in sales through pharmacies.

Trends in the market: One of the key trends in the Sleep Aids (Pharmacies) market in Italy is the growing popularity of melatonin supplements. Melatonin is a hormone that helps regulate sleep-wake cycles, and its use as a sleep aid has gained traction in recent years. This trend can be attributed to the increasing awareness of the benefits of melatonin and its availability as an over-the-counter supplement in pharmacies. Another trend in the market is the rise of natural sleep aids. Many Italians are turning to natural remedies such as herbal teas, essential oils, and relaxation techniques to improve their sleep. This trend is driven by a desire for holistic and alternative approaches to sleep problems, as well as concerns about the side effects and dependency associated with traditional sleep medications.

Local special circumstances: Italy has a strong tradition of herbal medicine and natural remedies, which has influenced the preferences of customers in the Sleep Aids (Pharmacies) market. Italians have a long history of using herbs and plants for various health purposes, including sleep disorders. This cultural preference for natural remedies has contributed to the demand for herbal sleep aids in the country.

Underlying macroeconomic factors: The Sleep Aids (Pharmacies) market in Italy is also influenced by underlying macroeconomic factors. The country has been experiencing economic challenges in recent years, with slow economic growth and high unemployment rates. These factors have contributed to increased stress levels and sleep problems among the population, leading to a higher demand for sleep aids. Additionally, the aging population in Italy is driving the growth of the Sleep Aids (Pharmacies) market. As people age, they are more likely to experience sleep problems and seek solutions to improve their sleep. The increasing number of elderly individuals in Italy has created a larger customer base for sleep aids, driving market growth. In conclusion, the Sleep Aids (Pharmacies) market in Italy is experiencing growth due to changing customer preferences, including a preference for natural sleep aids and easily accessible remedies. The market is also influenced by local cultural preferences for herbal medicine and underlying macroeconomic factors such as high-stress levels and an aging population.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.