Key regions: United States, Germany, Australia, India, United Kingdom
The Sleep Aids (Pharmacies) market in Morocco is experiencing steady growth due to increasing customer preferences for sleep aids, as well as several local special circumstances and underlying macroeconomic factors.
Customer preferences: Customers in Morocco are increasingly turning to sleep aids to address their sleep-related issues. This can be attributed to a variety of factors, including the growing awareness about the importance of sleep for overall health and well-being. Additionally, the hectic lifestyles and high levels of stress among the population are leading to an increase in sleep disorders, such as insomnia, which further drives the demand for sleep aids.
Trends in the market: One of the key trends in the Sleep Aids (Pharmacies) market in Morocco is the growing popularity of natural and herbal sleep aids. Customers are becoming more conscious about the potential side effects of synthetic sleep aids and are seeking safer alternatives. This trend is in line with the global shift towards natural and organic products across various industries. Another trend in the market is the increasing availability of sleep aids in pharmacies. Pharmacies are becoming the preferred distribution channel for sleep aids, as they provide a convenient and trusted source for customers to purchase these products. This trend is also driven by the rising number of pharmacies in Morocco, which is expanding the reach of sleep aids to a wider customer base.
Local special circumstances: Morocco has a large population that is predominantly Muslim, and the country observes the Islamic practice of fasting during the holy month of Ramadan. This religious practice can disrupt sleep patterns, leading to an increased demand for sleep aids during this period. Additionally, Morocco has a significant aging population, and older individuals often experience sleep problems, which further contributes to the demand for sleep aids.
Underlying macroeconomic factors: Morocco's growing economy and rising disposable income levels are playing a crucial role in the development of the Sleep Aids (Pharmacies) market. As people have more purchasing power, they are willing to spend on products that improve their quality of life, including sleep aids. Furthermore, the government's focus on healthcare and wellness initiatives is creating a favorable environment for the growth of the sleep aids market. In conclusion, the Sleep Aids (Pharmacies) market in Morocco is witnessing growth driven by increasing customer preferences, such as the demand for natural and herbal sleep aids, and the availability of sleep aids in pharmacies. Local special circumstances, including religious practices and an aging population, also contribute to the market's development. Additionally, underlying macroeconomic factors, such as a growing economy and rising disposable income levels, further support the growth of the market.
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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