Key regions: United States, Germany, Australia, India, United Kingdom
The Sleep Aids (Pharmacies) market in Thailand has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: Customers in Thailand are increasingly seeking sleep aids to help them combat sleep disorders and improve the quality of their sleep. This trend is driven by the fast-paced and stressful lifestyle of urban dwellers, who often struggle with sleep deprivation. Additionally, the growing awareness of the importance of good sleep for overall health and well-being has also contributed to the increasing demand for sleep aids in the country.
Trends in the market: One of the key trends in the Sleep Aids (Pharmacies) market in Thailand is the rising popularity of natural and herbal sleep aids. Customers are becoming more conscious of the potential side effects of pharmaceutical sleep aids and are seeking natural alternatives. As a result, there has been a surge in the demand for products that contain natural ingredients such as valerian root, chamomile, and melatonin. Another trend in the market is the increasing availability of sleep aids in pharmacies. Pharmacies in Thailand have expanded their product offerings to include a wide range of sleep aids, catering to the growing demand from customers. This has made it more convenient for customers to access sleep aids and has contributed to the overall growth of the market.
Local special circumstances: Thailand has a high prevalence of sleep disorders, with a significant portion of the population suffering from conditions such as insomnia and sleep apnea. This has created a large customer base for sleep aids in the country. Additionally, the aging population in Thailand has also contributed to the growth of the market, as older adults are more likely to experience sleep disturbances and seek sleep aids.
Underlying macroeconomic factors: The growing middle class in Thailand has played a significant role in the development of the Sleep Aids (Pharmacies) market. As disposable incomes have increased, customers have been able to afford sleep aids and are willing to spend on products that can improve their sleep quality. Furthermore, the expansion of the healthcare sector in Thailand has also contributed to the growth of the market, as more individuals have access to healthcare services and are seeking solutions for their sleep problems. In conclusion, the Sleep Aids (Pharmacies) market in Thailand is experiencing growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for sleep aids is driven by the need to combat sleep disorders and improve sleep quality, with customers increasingly seeking natural alternatives. The availability of sleep aids in pharmacies and the high prevalence of sleep disorders in the country have further contributed to 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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