Market Insights Health Pharmacies OTC Products

Sleep Aids (Pharmacies) - Mauritius

Mauritius

Revenue in the Sleep Aids market is projected to reach US$123.30k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.33%, resulting in a market volume of US$121.30k 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$0.09 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 Mauritius has been experiencing steady growth over the past few years.

Customer preferences: One of the main reasons for the growth in the Sleep Aids market in Mauritius is the increasing awareness and concern about sleep disorders among the population. As people become more aware of the importance of a good night's sleep for their overall health and well-being, the demand for sleep aids has been on the rise. Additionally, the aging population in Mauritius has also contributed to the growth of the market, as older individuals are more prone to sleep disorders and may require sleep aids to help them sleep better.

Trends in the market: One of the key trends in the Sleep Aids market in Mauritius is the growing demand for natural and herbal sleep aids. Many consumers are now seeking alternative remedies that are perceived to be safer and have fewer side effects compared to traditional pharmaceutical sleep aids. This trend is in line with the global shift towards natural and organic products, and it presents an opportunity for companies to develop and market natural sleep aids in Mauritius. Another trend in the market is the increasing availability of sleep aids in pharmacies. Pharmacies in Mauritius have been expanding their product offerings to include a wider range of sleep aids, catering to the growing demand from consumers. This has made it more convenient for individuals to access sleep aids and has contributed to the overall growth of the market.

Local special circumstances: Mauritius is a popular tourist destination, attracting visitors from around the world. Many tourists may experience jet lag or have trouble sleeping in unfamiliar environments, leading to an increased demand for sleep aids. This presents an opportunity for companies to target the tourist market by offering sleep aids specifically tailored for travelers.

Underlying macroeconomic factors: The economic stability and growth in Mauritius have also played a role in the development of the Sleep Aids market. As the economy continues to grow, individuals have more disposable income to spend on healthcare products, including sleep aids. The increasing urbanization and stressful lifestyles in Mauritius have also contributed to the demand for sleep aids, as many individuals struggle with sleep disorders due to the pressures of modern life. In conclusion, the Sleep Aids (Pharmacies) market in Mauritius is experiencing growth due to increasing awareness about sleep disorders, the aging population, and the availability of natural sleep aids. The growing tourist market and the economic stability in Mauritius also contribute to the development of the market.

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.