Market Insights Consumer OTC Pharmaceuticals

Sleep Aids - Croatia

Croatia

Revenue in the Sleep Aids market amounts to €0.63m in 2024. The market is expected to grow annually by 5.41% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€1,930m in 2024).
In relation to total population figures, per person revenues of €0.16 are generated in 2024.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Sleep Aids market in Croatia is experiencing steady growth due to increasing customer demand for sleep-enhancing products.

Customer preferences: Customers in Croatia are increasingly seeking sleep aids to improve their sleep quality and address common sleep-related issues such as insomnia and sleep disorders. The fast-paced and stressful modern lifestyle has led to higher levels of sleep deprivation and an increased need for sleep aids. Additionally, the aging population in Croatia has contributed to the growing demand for sleep aids, as older individuals often experience difficulties in falling asleep or staying asleep throughout the night.

Trends in the market: One of the key trends in the Sleep Aids market in Croatia is the rising popularity of natural and herbal sleep aids. Customers are becoming more conscious about the ingredients used in sleep aids and are opting for products that are made from natural and organic ingredients. This trend is driven by the growing awareness of potential side effects associated with synthetic sleep aids, as well as a preference for more sustainable and environmentally friendly products. Another trend in the market is the increasing availability of sleep aids in different formats. While traditional sleep aids such as pills and capsules continue to dominate the market, there is a growing demand for alternative formats such as herbal teas, essential oils, and sleep sprays. These alternative formats offer convenience and ease of use, appealing to customers who prefer natural remedies and non-invasive solutions for improving sleep.

Local special circumstances: Croatia's tourism industry plays a significant role in the Sleep Aids market. The country attracts a large number of tourists each year, many of whom may experience jet lag or have difficulty adjusting to a new sleep schedule. As a result, there is a demand for sleep aids among tourists seeking relief from sleep-related issues during their stay in Croatia. This presents an opportunity for sleep aid manufacturers to target the tourist market and offer products specifically designed for travelers.

Underlying macroeconomic factors: The growing Sleep Aids market in Croatia can be attributed to several underlying macroeconomic factors. The country has witnessed steady economic growth in recent years, resulting in increased disposable income among consumers. This has led to a higher willingness to spend on sleep aids and other wellness products. Additionally, the rising prevalence of sleep disorders and the aging population have contributed to the market growth, as individuals are seeking effective solutions to improve their sleep quality. In conclusion, the Sleep Aids market in Croatia is experiencing growth due to increasing customer demand for sleep-enhancing products. Customers are seeking natural and herbal sleep aids, and there is a growing availability of sleep aids in different formats. The country's tourism industry also presents an opportunity for sleep aid manufacturers. The underlying macroeconomic factors, such as economic growth and the aging population, further contribute to the market's development.

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.