Market Insights Consumer OTC Pharmaceuticals

Sleep Aids - China

China

Revenue in the Sleep Aids market amounts to €0.48bn in 2024. The market is expected to grow annually by 7.21% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€1,950m in 2024).
In relation to total population figures, per person revenues of €0.34 are generated in 2024.

Key regions: Philippines, Indonesia, United Kingdom, Canada, Thailand

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Región

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Analyst Opinion

The Sleep Aids market in China has been experiencing significant growth in recent years.

Customer preferences: Customers in China are increasingly seeking out sleep aids to help them improve the quality of their sleep. This is driven by several factors, including the fast-paced and stressful lifestyle in urban areas, as well as the growing awareness of the importance of sleep for overall health and well-being. Additionally, the increasing prevalence of sleep disorders, such as insomnia, has also contributed to the rising demand for sleep aids.

Trends in the market: One of the key trends in the Sleep Aids market in China is the growing popularity of natural and herbal sleep aids. Chinese consumers have a long history of using traditional Chinese medicine and herbal remedies, and this preference extends to sleep aids as well. Many consumers are turning to natural ingredients, such as chamomile, valerian root, and lavender, which are believed to have calming and sleep-inducing properties. Another trend in the market is the increasing availability and variety of sleep aids in different forms. In addition to traditional pills and capsules, sleep aids are now available as teas, sprays, and even wearable devices. This reflects the growing demand for convenience and customization among Chinese consumers.

Local special circumstances: China's aging population is also driving the growth of the Sleep Aids market. As the population ages, the prevalence of sleep disorders, such as insomnia and sleep apnea, increases. This has created a significant market opportunity for sleep aids targeted at the elderly population. Furthermore, the rise of e-commerce in China has greatly facilitated the distribution and sales of sleep aids. Online platforms, such as Alibaba's Tmall and JD. com, provide a convenient and efficient way for consumers to purchase sleep aids, especially for those living in remote areas where access to physical stores may be limited.

Underlying macroeconomic factors: China's growing middle class and rising disposable incomes have also contributed to the growth of the Sleep Aids market. As people become more affluent, they are willing to spend more on products that can improve their quality of life, including sleep aids. Additionally, the increasing awareness of health and wellness among Chinese consumers has also driven the demand for sleep aids. In conclusion, the Sleep Aids market in China is experiencing significant growth due to customer preferences for natural and herbal sleep aids, the increasing availability and variety of sleep aids, the aging population, the rise of e-commerce, and the underlying macroeconomic factors such as the growing middle class and rising disposable incomes. As the demand for sleep aids continues to rise, there is a growing opportunity for companies to tap into this market and provide innovative and effective solutions for improving sleep quality.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.