GCC Sleep Aids Market Outlook (2018 to 2032)
Synopsis
The above chart is GCC Sleep Aids Market Outlook (2018 to 2032)
Market Dynamics
the gcc sleep aids market is growing rapidly and has been forecasted to reach usd 1.96 billion in 2032. sleep aids are products, which are used to induce, maintain or improve sleep. a wide range of these products are available in the market such as over-the-counter drugs, prescription drugs, melatonin, herbal remedies, comfort foods, supplements, and mattresses.
the increasing number of sleep disorders, like insomnia and sleep apnea, among people in the gcc have increased demand for sleep aids and sleep products, forcing the demand to rise steeply. the most common sleep disorder is insomnia, which is estimated to be experienced by almost one-third of the population in the region.
one factor fuelling demand is the rising popularity and utilization of electronic gadgets, studies have shown that the higher the utilization of electronic gadgets the higher the chances of developing sleeping disorders, among adults and children alike.
in addition, the hot climate of gcc countries can also induce and exacerbate sleeping disorders. high temperatures at night make sleeping more difficult and can be a reason for people to take sleep aids in order to sleep better.
the rising preference for natural ingredients in sleep aids has also contributed to the increase in demand for sleep aids. people in the region are more likely to opt for natural components for a better night sleep, as medicines can be associated with headaches, high blood pressure, and harmful symptoms.
on the other hand, high costs of sleep aids, inadequate sleep awareness, and lack of access to quality sleep products are considered as some of the factors that are likely to hinder the growth of gcc sleep aids market.
to sum up, going forward, the gcc sleep aids market is expected to grow at a high cagr from 2018 to 2032, largely due to its rising demand. the demand in gcc is likely to continue to grow in the coming years and its outlook remains positive.