Melatonin Market Growth Accelerated by Rising Healthcare Expenditure

 


Melatonin is a hormone that regulates sleep-wake cycles. Oral melatonin supplements are used as sleep aids and to treat circadian rhythm disorders. They help induce sleep, improve sleep quality and overcome jet lag. With rising stress levels and hectic lifestyles, sleep disorders have become increasingly common. This has driven up demand for over-the-counter sleep supplements. The global melatonin market is estimated to be valued at US$ 576.85 Mn in 2023 and is expected to exhibit a 12% CAGR over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing healthcare expenditure globally has been a major driver of the melatonin market. As disposable incomes rise, people are willing to spend more on their health and well-being. Sleep disorders can have serious health consequences if left untreated for prolonged periods. Patients are turning to melatonin supplements as an affordable and natural treatment alternative. This has supported sales growth. Furthermore, growing health awareness and focus on preventive healthcare is encouraging more people to use supplements for conditions like insomnia. The market is expected to continue expanding on the back of rising healthcare spending in developing nations.

Segment Analysis
Melatonin is largely categorized into three major sub-segments: capsules and tablets, liquids, and granules and powders. Among them, capsules and tablets dominate the market, occupying over 50% market share in 2024. Their higher efficacy and controlled-release properties make capsules and tablets a preferred form among consumers. However, liquids and granules are gaining popularity due to ease of ingestion and accurate dosing.

Key Takeaways
The Global Melatonin Market Size is expected to witness high growth over the forecast period.

Regional analysis: North America dominates the global market and is expected to maintain its lead position during the forecast period. High adoption of melatonin supplements for its sleep-inducing effects and treatment of depression and anxiety disorders is driving the North American market. Europe follows North America in terms of market share. Favorable reimbursement policies and growing geriatric population suffering from age-related health issues are some factors responsible for Europe's large market size.

Key players operating in the melatonin market are C.H. Boehringer Sohn AG & Ko. KG, Pfizer Inc., Eli Lilly and Company, AstraZeneca plc, Natco Pharma Limited, Anhui Haikang Pharmaceutical Co., Ltd., Avra Laboratories Pvt. Ltd., and Sun Pharmaceutical Industries Ltd.

For More Insights, Read: https://www.newswirestats.com/melatonin-market-demand-growth-and-regional-outlook-by-2030/

Related Reports: https://www.newsintv.com/sports/eurothrills-unleashing-sporting-excellence-with-europes-finest-gear-and-game/

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