Market Insights Health Pharmacies OTC Products

Sleep Aids (Pharmacies) - Brazil

Brazil

Revenue in the Sleep Aids market is projected to reach US$43.39m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -2.31%, resulting in a market volume of US$39.52m by 2028.
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$0.20 are generated in 2024.

Key regions: South Korea, Japan, Canada, France, United Kingdom

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Analyst Opinion

The Sleep Aids (Pharmacies) market in Brazil has been experiencing significant growth in recent years.

Customer preferences: Customers in Brazil are increasingly seeking sleep aids to address their sleep-related issues. The fast-paced lifestyle, high stress levels, and long working hours have led to a rise in sleep disorders among the population. As a result, there is a growing demand for sleep aids in the country.

Trends in the market: One of the key trends in the Sleep Aids (Pharmacies) market in Brazil is the increasing availability and variety of sleep aid products. Pharmacies are expanding their product offerings to cater to the rising demand. Customers now have a wide range of options to choose from, including prescription and over-the-counter sleep aids. This trend is driven by the growing awareness about the importance of sleep and the need for effective solutions to address sleep disorders. Another trend in the market is the growing popularity of natural sleep aids. Customers are increasingly opting for natural and herbal sleep aids, as they are perceived to have fewer side effects compared to pharmaceutical sleep aids. This trend is in line with the global shift towards natural and organic products in the healthcare industry.

Local special circumstances: Brazil has a large population, which provides a significant customer base for the Sleep Aids (Pharmacies) market. The country also has a well-established pharmacy network, making it convenient for customers to access sleep aid products. Additionally, the Brazilian government has implemented regulations to ensure the safety and quality of sleep aid products, which further enhances customer confidence in the market.

Underlying macroeconomic factors: The growth of the Sleep Aids (Pharmacies) market in Brazil can be attributed to several macroeconomic factors. The country has witnessed steady economic growth in recent years, which has resulted in an increase in disposable income. As a result, customers have more purchasing power to invest in sleep aids. Furthermore, the aging population in Brazil is also driving the demand for sleep aids, as older individuals are more likely to experience sleep-related issues. In conclusion, the Sleep Aids (Pharmacies) market in Brazil is experiencing growth due to customer preferences for sleep aids, the availability of a wide range of products, the popularity of natural sleep aids, the large population and well-established pharmacy network, and the underlying macroeconomic factors such as economic growth and an aging population.

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.