Market Insights Health Pharmacies OTC Products

Sleep Aids (Pharmacies) - Moldova

Moldova

Revenue in the Sleep Aids market is projected to reach US$135.60k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.32%, resulting in a market volume of US$152.10k 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$0.04 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 Moldova is experiencing a steady growth due to changing customer preferences, emerging trends, and local special circumstances. Customer preferences have shifted towards a more holistic approach to sleep aids, with consumers seeking natural and herbal remedies. This trend is in line with the global market, where there is a growing demand for alternative sleep aids. In terms of trends, the Sleep Aids (Pharmacies) market in Moldova is witnessing an increase in the availability and popularity of natural sleep aids. Consumers are becoming more conscious about the potential side effects of traditional sleep medications and are opting for natural alternatives. This trend is driven by a desire for a healthier lifestyle and a growing awareness of the benefits of natural remedies. Another trend in the market is the rise of online sales of sleep aids. With the increasing penetration of internet and smartphones, consumers are turning to online platforms to purchase sleep aids. This trend is not unique to Moldova, but is seen worldwide, as online shopping offers convenience and a wider range of products. Local special circumstances also play a role in the development of the Sleep Aids (Pharmacies) market in Moldova. The country has a high prevalence of sleep disorders, which is driving the demand for sleep aids. Additionally, the aging population in Moldova is contributing to the growth of the market, as older adults are more likely to experience sleep problems and seek solutions. Underlying macroeconomic factors also influence the Sleep Aids (Pharmacies) market in Moldova. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income. As a result, consumers have more purchasing power and are willing to spend on sleep aids to improve their quality of life. In conclusion, the Sleep Aids (Pharmacies) market in Moldova is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards natural sleep aids, the rise of online sales, the high prevalence of sleep disorders, and the growing disposable income are all contributing to the growth of the market. As the market continues to evolve, it is important for companies to adapt to these trends and cater to the changing needs of consumers.

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.