Market Insights Health OTC Pharmaceuticals

Sleep Aids - Japan

Japan

In Japan, the revenue in the Sleep Aids market market in 2024 amounts to €28.06.
It is projected to grow annually by 5.77% (CAGR 2024-2029).
When compared to other countries, the in the United States generates the highest revenue in the Sleep Aids market market, with €1,950.00 in 2024.
In terms of per person revenues, in Japan generates €0.23 in 2024.
Japan's sleep aids market is seeing a surge in demand for traditional herbal remedies such as valerian root and chamomile.

Key regions: Europe, Germany, Canada, United Kingdom, United States

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Analyst Opinion

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

Customer preferences: Japanese consumers have become more health-conscious and are placing greater importance on getting a good night's sleep. This has led to an increased demand for sleep aids, as people seek solutions to help them relax and improve their sleep quality. Additionally, the aging population in Japan has also contributed to the growth of the Sleep Aids market, as older individuals often experience sleep issues and are more likely to seek out products to help them sleep better.

Trends in the market: One major trend in the Sleep Aids market in Japan is the rising popularity of natural and herbal sleep aids. Consumers are becoming more wary of the potential side effects of pharmaceutical sleep aids and are instead opting for products that use natural ingredients. This trend is in line with the global shift towards natural and organic products in the health and wellness industry.Another trend in the market is the increasing availability of sleep aids in various formats. In addition to traditional pills and capsules, sleep aids are now available in the form of teas, sprays, and even wearable devices. This diversification of product formats allows consumers to choose the option that best suits their preferences and lifestyle.

Local special circumstances: Japan has a unique cultural emphasis on sleep and relaxation. The concept of "inemuri," or napping in public, is widely accepted in Japanese society. This cultural acceptance of napping and the importance placed on sleep contribute to the demand for sleep aids in the country. Additionally, the high-stress work culture in Japan, with long working hours and limited vacation time, also fuels the need for sleep aids to help individuals relax and unwind.

Underlying macroeconomic factors: The growing Sleep Aids market in Japan can also be attributed to several underlying macroeconomic factors. The country has a strong economy and a high standard of living, which allows consumers to prioritize their health and well-being. Furthermore, the increasing prevalence of sleep disorders, such as insomnia, in Japan has also contributed to the growth of the Sleep Aids market. As awareness of sleep disorders and their impact on overall health increases, more people are seeking out sleep aids as a solution.

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.