Sleep Aids (Pharmacies) - Niger | Statista Market Forecast

Revenue in the Sleep Aids market is projected to reach US$0.00 in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of NaN%, resulting in a market volume of US$0.00 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$0.00 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 Niger has been experiencing significant growth in recent years. Customer preferences for sleep aids have shifted towards more natural and holistic remedies, leading to an increase in demand for herbal and homeopathic sleep aids. Additionally, the market has been influenced by local special circumstances such as the high prevalence of sleep disorders in the country. These factors, combined with underlying macroeconomic factors, have contributed to the development of the Sleep Aids (Pharmacies) market in Niger. Customer preferences in Niger have been shifting towards more natural and holistic remedies for sleep disorders. This trend can be attributed to a growing awareness of the potential side effects of conventional sleep aids, as well as a desire for more sustainable and environmentally friendly products. As a result, there has been an increase in demand for herbal and homeopathic sleep aids in the market. Customers are seeking products that are derived from natural sources and are perceived to have fewer side effects. In addition to changing customer preferences, the Sleep Aids (Pharmacies) market in Niger has been influenced by local special circumstances. Niger has a high prevalence of sleep disorders, with a significant portion of the population experiencing difficulties falling asleep or staying asleep. This has created a demand for sleep aids in the market, as individuals seek solutions to improve their sleep quality. The availability of sleep aids in pharmacies has made it convenient for customers to access these products and address their sleep issues. The development of the Sleep Aids (Pharmacies) market in Niger is also influenced by underlying macroeconomic factors. The country has been experiencing economic growth in recent years, resulting in an increase in disposable income. As a result, individuals have more purchasing power and are able to afford sleep aids to improve their sleep quality. Additionally, the growing middle class in Niger has led to an increase in healthcare spending, including the purchase of sleep aids. These macroeconomic factors have created a favorable environment for the growth of the Sleep Aids (Pharmacies) market in Niger. In conclusion, the Sleep Aids (Pharmacies) market in Niger has been developing due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards natural and holistic remedies, the high prevalence of sleep disorders, and the economic growth in the country have all contributed to the growth of the market. As the market continues to evolve, it is expected that there will be further developments and innovations in the sleep aids industry in Niger.

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.