Market Insights Consumer OTC Pharmaceuticals

Sleep Aids - Sweden

Sweden

Revenue in the Sleep Aids market amounts to €6.93m in 2024. The market is expected to grow annually by 3.72% (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 €0.65 are generated in 2024.

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

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Analyst Opinion

The Sleep Aids market in Sweden has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: In Sweden, there is a growing demand for sleep aids due to the increasing prevalence of sleep disorders and the rising awareness of the importance of quality sleep for overall health and well-being. Customers are seeking products that can help them improve their sleep quality and address specific sleep issues, such as insomnia or sleep apnea. As a result, there is a shift towards natural and non-addictive sleep aids, including herbal supplements, aromatherapy products, and relaxation techniques.

Trends in the market: One of the key trends in the Sleep Aids market in Sweden is the growing popularity of wearable sleep trackers and smart devices that monitor and analyze sleep patterns. These devices provide valuable insights into sleep quality and help individuals make informed decisions about their sleep routines. Additionally, there is an increasing demand for sleep aids that promote relaxation and stress reduction, such as weighted blankets and meditation apps. This trend reflects the growing awareness of the link between stress and sleep disturbances.

Local special circumstances: Sweden has a high standard of living and a strong emphasis on health and wellness. This has created a favorable environment for the Sleep Aids market to thrive. The Swedish population is generally well-informed about the importance of sleep and is willing to invest in products that can improve sleep quality. Additionally, the country has a well-developed healthcare system that supports the diagnosis and treatment of sleep disorders, further driving the demand for sleep aids.

Underlying macroeconomic factors: The Sleep Aids market in Sweden is also influenced by macroeconomic factors, such as the overall economic growth and disposable income levels. As the economy grows, individuals have more purchasing power to invest in sleep aids and prioritize their sleep health. Furthermore, the aging population in Sweden contributes to the growth of the Sleep Aids market, as older adults are more likely to experience sleep disturbances and seek solutions to improve their sleep. In conclusion, the Sleep Aids market in Sweden is experiencing growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for natural and non-addictive sleep aids, wearable sleep trackers, and relaxation products is driving the market forward. With a strong emphasis on health and wellness, Sweden provides a favorable environment for the Sleep Aids market to thrive.

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.