In 2023, hypnotic and sedative medicine sales in Canada were approximately 154.3 million US dollars. From 2024, a gradual decline is forecasted, with sales decreasing from 153.5 million to 151.2 million US dollars by 2028. This represents a year-on-year decline of approximately 0.5% to 0.6%, with a CAGR of around -0.5% over the five-year period.

Future trends to watch for:

Potential changes in healthcare policies impacting prescription practices.
Rising awareness and emphasis on non-pharmaceutical therapies for sleep disorders.
Development and approval of new sedative and hypnotic medicines.
Market response to growing concerns about dependency and side effects of such medications.