Anxiety and Related Sleep Disorders - Turkey

Turkey

Revenue in the Anxiety and Related Sleep Disorders market is projected to reach US$11.83m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.17%, resulting in a market volume of US$12.54m by 2029.
In global comparison, most revenue will be generated in the United States (US$3,213.00m in 2024).
In relation to total population figures, per person revenues of US$2.31 are generated in 2024.

Key regions: China, United States, Germany, India, Canada

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Analyst Opinion

The Anxiety and Related Sleep Disorders market in Turkey is experiencing significant growth and development due to various factors.

Customer preferences: Customers in Turkey are increasingly seeking solutions for anxiety and related sleep disorders. This is driven by a growing awareness and understanding of mental health issues, as well as the availability of information and resources online. Customers are looking for effective and convenient treatment options that can help them manage their symptoms and improve their overall well-being. They are also willing to invest in products and services that offer long-term benefits and have a positive impact on their quality of life.

Trends in the market: One of the key trends in the Anxiety and Related Sleep Disorders market in Turkey is the rising demand for natural and holistic remedies. Customers are increasingly interested in alternative therapies such as herbal supplements, aromatherapy, and relaxation techniques. This trend is driven by a desire to avoid potential side effects of pharmaceutical medications and a preference for more natural and sustainable approaches to healthcare. As a result, there has been a growing number of products and services in the market that cater to this demand.Another trend in the market is the increasing adoption of digital solutions for anxiety and sleep disorders. Mobile applications, online therapy platforms, and wearable devices are becoming popular tools for self-management and treatment. These digital solutions offer convenience, accessibility, and anonymity, which are highly valued by customers. The COVID-19 pandemic has further accelerated this trend, as people are seeking remote options for mental health support and treatment.

Local special circumstances: Turkey has a relatively high prevalence of anxiety and related sleep disorders compared to other countries. This can be attributed to various factors, including high levels of stress due to work pressure, economic instability, and social challenges. Additionally, the cultural stigma associated with mental health issues has historically prevented individuals from seeking help or discussing their symptoms openly. However, there has been a positive shift in recent years, with increased awareness and acceptance of mental health problems in society. This has created a more supportive environment for individuals to seek treatment and has contributed to the growth of the market.

Underlying macroeconomic factors: Turkey has a large and growing population, which provides a significant customer base for the Anxiety and Related Sleep Disorders market. The country also has a relatively high level of healthcare expenditure, indicating a willingness to invest in healthcare services and products. Additionally, the government has been taking steps to improve mental healthcare services and reduce the stigma associated with mental health issues. These factors, combined with the increasing prevalence of anxiety and related sleep disorders, create a favorable market environment for the growth and development of the industry.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on companies' revenues, international institutes data, and global consumer survey data. Revenues refer to the retail value and include sales taxes.

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 financial reports and third-party data. Next, we use relevant key market indicators and data from country-specific associations such as healthcare spending per capita, medical product spending per capita, and gross domestic product per capita. This data helps us to 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, S-Curve function, ARIMA time series model and exponential curve function. Data is modeled using current exchange rates.

Additional Notes:

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. GCS data is reweighted for representativeness.