PROSPECTS AND OPPORTUNITIES
Positive outlook as sleeping issues expected to rise
Volume sales of sleep aids are expected to remain in positive territory over the forecast period, rising at a steady pace. While the easing of inflationary pressures should support recovery in the short term, volume growth will be primarily driven by the fact that the incidence of sleep disorders is on the rise in Hungary due to busier and more stressful lifestyles, economic anxiety, population ageing, excessive screen time, noise pollution in urban areas, high levels of caffeine consumption etc.
Competition to rise with expansion of alternative remedies
Despite the solid growth prospects, sleep aids face growing competition from alternative options, which will temper growth in the years ahead. Herbal teas and Rx products are both widely used by sleep sufferers, but competition will also arise from vitamin and dietary supplements, which are predicted to gain popularity in Hungary.
Innovation in sleep aids to focus on herbal/traditional properties
Innovation should also help to stimulate demand in sleep aids over the forecast period. With the regulatory environment leaving very little scope for the sale of standard OTC products containing active pharmaceutical ingredients and Hungarians often reluctant to use the latter due to fear of dependency, it is expected most new launches will be herbal/traditional varieties based on natural substances like melatonin, valerian root, magnesium etc.
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Overview:
Understand the latest market trends and future growth opportunities for the Sleep Aids industry in Hungary with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Sleep Aids industry in Hungary, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Sleep Aids in Hungary report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Sleep Aids in Hungary?
- Which are the leading brands in Sleep Aids in Hungary?
- How are products distributed in Sleep Aids in Hungary?
- How has the regulatory and operating environment for Sleep Aids changed in Hungary?
- How are considerations such as stress, self-medication and shifting consumer lifestyles shaping demand for Sleep Aids
- How significant are wider health concerns and consumer awareness in determining sales?
- Where is future growth expected to be most dynamic?
Sleep Aids in Hungary - Category analysis
KEY DATA FINDINGS
Stressful lifestyles linked to stronger demand for sleep aids
Herbal/traditional sleep aids continue to gain popularity
Teva Gyógyszergyár’s Teva Valeriana retains its strong leadership position
Positive outlook as sleeping issues expected to rise
Competition to rise with expansion of alternative remedies
Innovation in sleep aids to focus on herbal/traditional properties
Consumer Health in Hungary - Industry Overview
Consumer health in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer health?
OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches
DISCLAIMER
DEFINITIONS
Sleep Aids
These aids include combinations of active ingredients (e.g. diphenhydramine + acetaminophen) and single ingredient (e.g. doxylamine succinate). Herbal remedies made with valerian root, passionflower, and others, are included. This category also tracks melatonin products - a hormone, even if they are classified as a dietary supplement in some countries.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Sleep Aids research and analysis database.
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