Sleep Aids (Pharmacies) - Japan | Statista Market Forecast

Revenue in the Sleep Aids market is projected to reach US$32.72m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.03%, resulting in a market volume of US$32.78m 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$0.27 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 Japan has been experiencing steady growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Customers in Japan are increasingly seeking out sleep aids to help them combat sleep disorders and improve the quality of their sleep. This is partly due to the high-stress lifestyle in Japan, where long working hours and intense competition can contribute to sleep problems. As a result, there is a growing demand for sleep aids that can help individuals fall asleep faster, stay asleep longer, and wake up feeling refreshed.

Trends in the market: One of the key trends in the Sleep Aids (Pharmacies) market in Japan is the shift towards natural and herbal sleep aids. Customers are becoming more conscious of the potential side effects of pharmaceutical sleep aids and are seeking out alternative options. Natural sleep aids, such as herbal teas, aromatherapy products, and supplements containing ingredients like melatonin and valerian root, are gaining popularity in Japan. These products are seen as a safer and more sustainable option for long-term use. Another trend in the market is the increasing availability of sleep aids in pharmacies. Pharmacies in Japan are expanding their product offerings to include a wider range of sleep aids, catering to the growing demand from customers. This includes both over-the-counter sleep aids and prescription medications, providing customers with more options to choose from.

Local special circumstances: Japan has a rapidly aging population, with a significant proportion of the population being over the age of 65. Older adults are more likely to experience sleep problems, such as insomnia and sleep apnea, and therefore have a higher demand for sleep aids. The aging population in Japan is driving the growth of the sleep aids market, as older adults seek out solutions to improve their sleep quality.

Underlying macroeconomic factors: The Sleep Aids (Pharmacies) market in Japan is also influenced by underlying macroeconomic factors. The overall healthcare expenditure in Japan has been increasing, driven by the aging population and rising healthcare costs. This has led to increased government spending on healthcare and a greater focus on preventative care. As a result, there is a greater emphasis on promoting healthy sleep habits and providing access to sleep aids as part of healthcare initiatives in Japan. In conclusion, the Sleep Aids (Pharmacies) market in Japan is experiencing growth due to changing customer preferences, including a shift towards natural sleep aids, and the local special circumstances of an aging population. The market is also influenced by underlying macroeconomic factors, such as increased healthcare expenditure and a focus on preventative care. As the demand for sleep aids continues to rise, pharmacies in Japan are expanding their product offerings to meet the needs of customers seeking solutions for sleep disorders and improved sleep quality.

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.