Market Insights Consumer OTC Pharmaceuticals

Sleep Aids - United Kingdom

United Kingdom

Revenue in the Sleep Aids market amounts to €118.00m in 2024. The market is expected to grow annually by 5.94% (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 €1.74 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 United Kingdom is witnessing significant growth due to changing customer preferences and increasing awareness about sleep disorders.

Customer preferences: Customers in United Kingdom are increasingly seeking sleep aids to improve their sleep quality and address sleep disorders. The hectic and stressful lifestyle of individuals in United Kingdom has led to a rise in sleep-related issues such as insomnia and sleep apnea. As a result, there is a growing demand for sleep aids that can help individuals fall asleep faster, stay asleep longer, and wake up feeling refreshed. Additionally, customers are also looking for natural and non-habit forming sleep aids that do not have any side effects.

Trends in the market: One of the key trends in the Sleep Aids market in United Kingdom is the increasing popularity of herbal and natural sleep aids. Customers are becoming more conscious about the ingredients used in sleep aids and are opting for products that are made from natural ingredients such as chamomile, lavender, and valerian root. These natural sleep aids are perceived to be safer and have fewer side effects compared to traditional sleep aids. Another trend in the market is the growing adoption of wearable sleep tracking devices. These devices monitor and analyze an individual's sleep patterns and provide insights on sleep quality and duration. Customers in United Kingdom are using these devices to gain a better understanding of their sleep patterns and make necessary lifestyle changes to improve their sleep. This trend is driving the demand for sleep aids that can complement the use of these wearable devices.

Local special circumstances: The Sleep Aids market in United Kingdom is also influenced by local special circumstances. The National Health Service (NHS) in United Kingdom provides free healthcare to all residents, including treatment for sleep disorders. However, due to long waiting times and limited resources, many individuals are turning to over-the-counter sleep aids to manage their sleep problems. This has contributed to the growth of the Sleep Aids market in United Kingdom.

Underlying macroeconomic factors: The Sleep Aids market in United Kingdom is also influenced by underlying macroeconomic factors. The increasing disposable income of individuals in United Kingdom has made sleep aids more affordable and accessible. Additionally, the aging population in United Kingdom is more prone to sleep disorders, which has further fueled the demand for sleep aids. Moreover, the growing awareness about the importance of sleep and its impact on overall health and well-being has also contributed to the growth of the Sleep Aids market in United Kingdom. In conclusion, the Sleep Aids market in United Kingdom is experiencing significant growth due to changing customer preferences, increasing awareness about sleep disorders, and the influence of local special circumstances. The market is characterized by a growing demand for natural and non-habit forming sleep aids, as well as the adoption of wearable sleep tracking devices. The underlying macroeconomic factors such as increasing disposable income and the aging population have also contributed to the growth of the 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.