In 2023, the hypnotic and sedative medicine market in South Korea reached 89.84 billion South Korean Wons. Over the last two years, this market has shown considerable growth with year-on-year increases of 7.9% in 2022 and 7.28% in 2023. Over the past five years, the compound annual growth rate (CAGR) averaged 10.57%, indicating a strong upward trend in demand for these medicines.

From 2024 onwards, forecast data suggests continued growth, albeit at a slightly slower CAGR of 4.49% over the next five years, reaching 119.4 billion South Korean Wons by 2028. This reflects a sustained but moderating growth pattern, indicating the market's maturation and the potential stabilization of demand.

Future trends to watch for include:

Increasing consumer awareness about mental health and the rising prevalence of sleep disorders could continue to drive demand.
Regulatory changes and new product innovations might influence market dynamics.
Potential shifts in healthcare policies and insurance coverage may impact market growth.