Market Insights Consumer OTC Pharmaceuticals

Sleep Aids - Portugal

Portugal

Revenue in the Sleep Aids market amounts to €2.47 in 2024. The market is expected to grow annually by 4.51% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€1,950 in 2024).
In relation to total population figures, per person revenues of €0.24 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 Portugal is experiencing significant growth and development. Customer preferences have shifted towards natural and non-prescription sleep aids, driving the demand for these products.

Additionally, there are several trends in the market that are contributing to its growth. Portugal also has some local special circumstances that are influencing the development of the Sleep Aids market. Furthermore, underlying macroeconomic factors are playing a role in shaping the market.

Customer preferences in the Sleep Aids market in Portugal have evolved in recent years. Consumers are increasingly seeking natural and non-prescription sleep aids, as they are perceived to have fewer side effects and be more gentle on the body. This preference for natural products is in line with global trends, as consumers become more health-conscious and seek out products that align with their overall wellness goals.

As a result, there has been a rise in the demand for herbal supplements, aromatherapy products, and relaxation techniques that promote better sleep. Several trends are driving the growth of the Sleep Aids market in Portugal. One of the key trends is the increasing prevalence of sleep disorders and insomnia.

Modern lifestyles, stress, and technology are all contributing factors to sleep disturbances, leading to a greater need for sleep aids. Additionally, the aging population in Portugal is also driving the demand for sleep aids, as older adults are more prone to sleep disorders and may require assistance in achieving restful sleep. Portugal has some local special circumstances that are influencing the development of the Sleep Aids market.

The country has a rich tradition of herbal medicine and natural remedies, which has contributed to the popularity of natural sleep aids. Portuguese consumers have a preference for traditional remedies and are more inclined to trust products that have been used for generations. This cultural preference for natural remedies has created a favorable environment for the growth of the Sleep Aids market.

Underlying macroeconomic factors are also playing a role in shaping the Sleep Aids market in Portugal. The country's improving economy and rising disposable incomes have led to increased consumer spending on health and wellness products. As consumers have more money to spend, they are willing to invest in products that improve their quality of life, including sleep aids.

The growing middle class in Portugal is particularly driving the demand for sleep aids, as these consumers prioritize their health and well-being. In conclusion, the Sleep Aids market in Portugal is experiencing growth and development due to shifting customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for natural and non-prescription sleep aids is on the rise, driven by consumer preferences for gentler and more natural products.

The increasing prevalence of sleep disorders and the aging population are also contributing to the growth of the market. Portugal's cultural preference for natural remedies and the country's improving economy and rising disposable incomes are further fueling the development of the Sleep Aids market.

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.