Market Insights Health Pharmacies OTC Products

Sleep Aids (Pharmacies) - Germany

Germany

Revenue in the Sleep Aids market is projected to reach US$233.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.41%, resulting in a market volume of US$246.50m 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$2.80 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 Germany is experiencing steady growth due to several factors.

Customer preferences: Customers in Germany are increasingly turning to sleep aids to address their sleep-related issues. Sleep disorders are becoming more prevalent, with stress, anxiety, and busy lifestyles contributing to the problem. As a result, consumers are seeking solutions to help them improve the quality of their sleep. Sleep aids, such as over-the-counter medications and herbal remedies, are seen as a convenient and accessible option for many individuals.

Trends in the market: There are several key trends driving the growth of the Sleep Aids (Pharmacies) market in Germany. Firstly, there is a growing awareness and acceptance of sleep aids as a legitimate solution to sleep problems. This is partly due to increased education and information about the importance of sleep for overall health and well-being. As a result, consumers are more willing to try sleep aids to improve their sleep quality. Secondly, there is a trend towards natural and herbal sleep aids. Many consumers are seeking alternatives to traditional pharmaceutical products, preferring natural remedies that are perceived as safer and more gentle on the body. This has led to an increase in the availability and variety of natural sleep aids in pharmacies across Germany. Lastly, there is a rising demand for sleep aids specifically tailored to different sleep disorders. As sleep disorders can vary greatly in their symptoms and causes, there is a need for targeted solutions. Pharmacies are responding to this demand by offering a range of sleep aids that address specific sleep problems, such as insomnia, sleep apnea, and restless leg syndrome.

Local special circumstances: Germany has a strong healthcare system and a culture that values health and well-being. This creates a favorable environment for the growth of the Sleep Aids (Pharmacies) market. Additionally, the country has a high proportion of elderly population, who are more likely to experience sleep problems and seek sleep aids. This demographic factor further contributes to the demand for sleep aids in Germany.

Underlying macroeconomic factors: The Sleep Aids (Pharmacies) market in Germany is also influenced by macroeconomic factors. The country has a stable economy with a high standard of living, which allows consumers to afford sleep aids. Furthermore, the strong presence of pharmacies in Germany ensures easy access to sleep aids for consumers. The country's well-developed healthcare infrastructure and insurance system also play a role in supporting the growth of the Sleep Aids (Pharmacies) market. In conclusion, the Sleep Aids (Pharmacies) market in Germany is growing due to increasing customer preferences for sleep aids, the emergence of new trends in the market, local special circumstances such as a strong healthcare system and an aging population, and underlying macroeconomic factors such as a stable economy and well-developed healthcare infrastructure.

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.