Melatonin Supplements Market: Introduction
Melatonin supplement is commonly used to treat sleep disorders and to maintain circadian rhythms. Circadian rhythm is body’s internal clock, which gives human body signal when to sleep and when to stay alert. In addition, growing prevalence of diseases such as bipolar disorder, dementia, and endometriosis symptoms are increasing due to hectic lifestyle of people especially amongst the millennial population. As the melatonin supplements control the internal body clock of human beings and boosts sleeping orders, its consumption pattern is expected to increase, in turn, expanding the market demand across the globe. Moreover, the steadily increasing stress level and anxiety has led to increased awareness regarding the serious problems related with insomnia, this in turn, is creating favorable dynamics for the melatonin supplements market.
Further, the rapid growing number of healthcare suppliers for lifestyle and chronic diseases is one of the significant factor attributing towards the growth of the melatonin supplements market. Another emerging trend in the melatonin supplements market is the easy availability of nutrimental supplements. In many clinical trials it has also been found that melatonin supplements also reduces side effects of chemotherapy and increases survival period of a cancer patient. The listed factors are expected to boost the market growth of melatonin supplements and anticipated to remain dominant over the forthcoming period.
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Growing Number of Healthcare Providers for Lifestyle and Chronic Diseases
Changing lifestyle and hectic schedule has led to several diseases such as asthma, arthritis sinus and allergies leading to sleep disorders, in turn, creating demand for melatonin supplements in the global market. There has been substantial growth in the number of clinical centers, pharmacies, multi-specialty stores and diagnostics center due to rapidly growing prevalence of lifestyle and chronic diseases. Change in eating habits causes lifestyle diseases like obesity and diabetes which also cause sleep-related disorders, hence the demand for melatonin supplements market is increasing across the globe. Melatonin supplements also helps to enhance the innate and cellular immunity as it stimulates the production of progenitor cells of granulocytes and macrophages which strengthen the immunity system. Thereby, expanding the demand for melatonin supplements in the globe market.
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Melatonin supplements Market: Segmentation
The melatonin supplements market is segmented on the basis of product type, application, and distribution channel.
On the basis of product type, the global melatonin supplements market is segmented as-
On the basis of application, the global melatonin supplements market is segmented as-
- Weak Immune System
- Alzheimer ’s Disease
- Cancer Treatment
- Nerve Pain
On the basis of Distribution Channel, the global melatonin supplements market is segmented as-
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies
- Drug Stores
Melatonin supplements: Key Players
Some of the leading players of global melatonin supplements market include Puritan's Pride, Inc., Nature Made, Just Potent, Douglas Laboratories Canada Inc., Life Extension, Pharmavite, PacificCoast NutriLabs, Nature's Bounty, Inc., NOW Foods, Pure Encapsulations, Inc., Solaray Inc, Solgar Inc., Source Naturals, Inc., Doctor's Best, Inc., and others. Key players are launching melatonin supplements in different flavors and properties. For Instance,
- In 2020, Nature's Bounty, Inc., launched new melatonin supplements in orange flavor – a quick-dissolve tablet which can be taken without water.
- Natrol LLC. launched advanced Vitamin B6 sleep tablets with 100% drug free that helps to fall sleep longer hours.
Melatonin Supplements: Opportunities
Growing table- bound work and hectic lifestyle has led to many health issues such as nerve pain, weak immune system. Thus, now day’s consumers are opting for various nutritional supplements which also include melatonin supplements. This creates opportunities for the manufactures who are operating in the melatonin supplements market to offers innovative supplements with different properties and flavor. The gradually growing demand for melatonin supplements is encouraging suppliers to sell their products through online channel as well in order to ensure that their products are easily available for the target consumers.
Moreover, key manufacturers are also expand their footprint through collaboration and acquisition in the U.S., Canada, the UK, and Germany. According to Centers for Disease Control and Prevention, it is found that 3 million of Americans are using melatonin pills on daily basis and 87% of adults are dealing with sleep-disorder issues. Also, the demand for melatonin supplements are also increasing due to circadian rhythm in developing countries such as India, China, Mexico and Brazil.
An Effect of COVID-19 on Melatonin Supplements:
Presently, amidst the COVID-19 pandemic, the main factor hindering the growth of melatonin supplement are trade disruption and border closures, especially in the countries such as U.S., China and India, where this pandemic has hit hard. Rising stress levels amidst this pandemic is increasing the demand for these supplements and its demand is expected to grow at a high rate following the pandemic.
Brief Approach to Research
The research report presents a comprehensive assessment of the melatonin supplements market, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, application, type, and distribution channel of the melatonin supplements market.
Key Data Points Covered in the Melatonin Supplements Report:
- An overview of the global melatonin supplements market, including background and advancement.
- Macroeconomic factors affecting the melatonin supplements market and its potential.
- Market dynamics, such as drivers, challenges, and trends.
- Detailed value chain analysis of the melatonin supplements market.
- The cost structure of and segments covered in the study.
- In-depth pricing analysis, by crucial melatonin supplements segments, regions, and by major market participants.
- Analysis of supply and demand the melatonin supplements , such as top producing and consuming geographies, imports/exports, and overall trade scenario.
- Analysis of the market structure, including a tier-wise categorization of key market participants of melatonin supplements market.
- Competitive landscape of the market, including detailed profiles of the top players in the melatonin supplements market.
Regional analysis of the Melatonin Supplements market includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Peru, Chile, Rest of LATAM)
- Europe (Germany, Spain, France, Italy, U.K., BENELUX, Nordic, Poland, Russia, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia (India, Malaysia, Thailand, Singapore, Indonesia, Rest of South Asia)
- Oceania (Australia, New Zealand)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa, Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain of the melatonin supplements market. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors of the melatonin supplements market, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies of melatonin supplements
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note:Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.