Sleep aids remains a small OTC category in Vietnam, as sales of these products are strictly controlled by the Ministry of Health. Although consumers can still buy small amounts of sleep aids in chemists/pharmacies without a prescription, the perception that OTC sleep aids can be harmful hampers sales.
Although sleep aids is strictly controlled by the Ministry of Health, it is easier for herbal/traditional remedies to achieve government approval and be accepted by customers. In the review period, herbal/traditional sleep aids remains a product trend within this category.
As sleep aids is strictly controlled by the government, there has been growing demand for dietary supplements, particularly those with a relaxation positioning or a positioning that promotes brain health. Among those products, combination herbal/traditional dietary supplements that include gingko biloba in addition to other ingredients such as polyscias fruitcosa (Ðinh Lang) are well-known to benefit mental health, such as reduce stress, headaches and help people to sleep easier.
Over the forecast period more stressful and busier lifestyles will be the main growth factors for sleep aids in both value and volume sales. Moreover, according to government statistics, the average number of online hours in Vietnam has increased gradually to reach almost 6-hours per day, a factor that will also contribute to the faster growth rate of sleep aids in the future.
As the demand of sleep aids is expected to grow gradually over the forecast period, there is still room for new players to make an entrance as the category is far from maturity. While sleep aids is strictly controlled by the Ministry of Healthcare, herbal/traditional sleep aids could provide some interesting opportunities for industry players to develop and launch products.
Although more people are expected to experience insomnia and other sleep disorders, competition is expected from other products. For instance, at one end of the spectrum some consumers will turn to prescription medicines via their healthcare providers; these are stronger or are available in larger quantities than OTC products.
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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 Definitions
This report originates from Passport, our Sleep Aids research and analysis database.
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