The global Melatonin Market is estimated to be valued at US$ 576.85 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Melatonin supplements are known to regulate sleep patterns. They are prescribed for conditions like insomnia, jet lag, and shift work sleep disorder. These supplements help induce sleep and resolve problems associated with sleep imbalance.
Market Key Trends:
Melatonin supplements help improve quality of sleep by reducing time taken to fall asleep. They are known to induce sense of drowsiness when taken before bedtime. Therefore, rising prevalence of sleep disorders owing to changing lifestyle and work patterns is fueling demand for melatonin supplements.
Segment Analysis
The global Global Melatonin Market Size is segmented by route of administration into oral and injectable. The oral segment dominates the market owing to ease of administration through tablets, capsules, liquids and other forms for oral consumption. The oral segment provides convenience and compliance to consumption over long run.
Key Takeaways
The global melatonin market is expected to witness high growth, exhibiting a CAGR of 7.2% over the forecast period, due to increasing prevalence of sleep disorders and growing geriatric population globally.
Regional analysis
North America dominates the global melatonin market owing to high awareness regarding sleep disorders. Asia Pacific exhibits the fastest growth due to rising aging population, growing health care expenditure and increasing adoption of western lifestyle in the region.
Key players
Key players operating in the melatonin market are Natrol Inc., Neurim Pharmaceuticals Ltd., Pulse Pharmaceuticals Pvt. Ltd., Flynn Pharma Ltd., Fidia Farmaceutici S.P.A., Aspen Pharmacare Holdings Ltd., Schiff Nutrition International Inc., Solal Technologies (Pty) Ltd., Rexall Sundown, Inc., and Bebida Beverage Co. Natrol Inc. dominates the market owing to its strong distribution network and wide product portfolio.
Read Our More Reports : https://www.rapidwebwire.com/melatonin-market-size-share-analysis-2023-2030/
Comments
0 comment