Market Insights Consumer OTC Pharmaceuticals

Eye Care - Belgium

Belgium

Revenue in the Eye Care market amounts to €33.10m in 2024. The market is expected to grow annually by 2.19% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€1,165m in 2024).
In relation to total population figures, per person revenues of €2.83 are generated in 2024.

Key regions: Thailand, Philippines, Indonesia, Canada, United Kingdom

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Eye Care market in Belgium has been experiencing steady growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In Belgium, there is a growing awareness and concern about eye health among consumers. With an aging population and an increased prevalence of digital devices usage, the demand for eye care products and services has been on the rise. Consumers are becoming more proactive in taking care of their eye health and are seeking products that can address their specific needs, such as contact lenses, glasses, and eye drops.

Trends in the market: One of the key trends in the Eye Care market in Belgium is the increasing popularity of contact lenses. Many consumers are opting for contact lenses as a convenient and comfortable alternative to traditional glasses. This trend is driven by advancements in lens technology, which have made contact lenses more comfortable and easier to use. Additionally, the growing fashion-consciousness among consumers has also contributed to the demand for contact lenses, as they offer a wider range of styles and colors compared to traditional glasses. Another trend in the market is the rising demand for specialized eye care products. Consumers are increasingly looking for products that can address specific eye health issues, such as dry eyes or allergies. This has led to the development of a wide range of eye drops, ointments, and other specialized products that cater to these specific needs.

Local special circumstances: Belgium has a well-developed healthcare system, which includes comprehensive eye care services. This has contributed to the growth of the Eye Care market, as consumers have easy access to eye care professionals and services. Additionally, the country has a high level of disposable income, which allows consumers to afford premium eye care products and services.

Underlying macroeconomic factors: The strong economic growth in Belgium has played a significant role in driving the growth of the Eye Care market. With a stable and prosperous economy, consumers have more disposable income to spend on eye care products and services. Additionally, the aging population in Belgium has also contributed to the growth of the market, as older individuals are more likely to require eye care products and services. In conclusion, the Eye Care market in Belgium is experiencing steady growth, driven by customer preferences for convenient and specialized eye care products, market trends such as the popularity of contact lenses, local special circumstances including a well-developed healthcare system, and underlying macroeconomic factors such as strong economic growth and an aging population.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.