Market Insights Consumer OTC Pharmaceuticals

Sleep Aids - Romania

Romania

Revenue in the Sleep Aids market amounts to €3.19m in 2024. The market is expected to grow annually by 6.25% (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

Marché

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Monnaie

Analyst Opinion

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

Customer preferences: Customers in Romania are increasingly seeking sleep aids to address their sleep-related issues. The busy and stressful lifestyles of individuals have led to a rise in sleep disorders and insomnia, creating a demand for products that can help improve sleep quality. Additionally, the growing awareness about the importance of sleep for overall health and well-being has also contributed to the increasing demand for sleep aids.

Trends in the market: One of the key trends in the Sleep Aids market in Romania is the growing popularity of natural and herbal sleep aids. Consumers are increasingly seeking products that are perceived to be safe and have minimal side effects. As a result, there has been a shift towards natural ingredients such as melatonin, valerian root, and chamomile in sleep aid products. This trend is in line with the global market, where natural and herbal sleep aids are gaining traction. Another trend in the market is the rising popularity of sleep tracking devices and mobile apps. These devices and apps allow individuals to monitor their sleep patterns and receive personalized recommendations for improving sleep quality. This trend is driven by the increasing use of smartphones and wearable technology, as well as the growing interest in self-care and wellness.

Local special circumstances: Romania has a rapidly aging population, which has contributed to the growth of the Sleep Aids market. Older adults are more likely to experience sleep problems, such as insomnia and sleep apnea, and are therefore more likely to seek sleep aids. The increasing number of older adults in Romania has created a larger customer base for sleep aid products.

Underlying macroeconomic factors: The growing economy of Romania has also played a role in the development of the Sleep Aids market. As disposable incomes rise, consumers have more purchasing power to spend on sleep aid products. Additionally, the increasing urbanization and modernization of the country have led to lifestyle changes that can negatively impact sleep, such as longer working hours and increased screen time. These factors have contributed to the growing demand for sleep aids in Romania. In conclusion, the Sleep Aids market in Romania is experiencing growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for sleep aids is driven by the need to address sleep disorders and improve sleep quality in the face of busy and stressful lifestyles. The market is also influenced by the growing popularity of natural and herbal sleep aids, as well as the use of sleep tracking devices and mobile apps. The aging population and the growing economy of Romania further contribute to the development of the Sleep Aids market in the country.

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.