Market Insights Consumer OTC Pharmaceuticals

Eye Care - Saudi Arabia

Saudi Arabia

Revenue in the Eye Care market amounts to €15.59m in 2024. The market is expected to grow annually by 2.16% (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 €0.42 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 Saudi Arabia is experiencing significant growth and development.

Customer preferences: In recent years, there has been a growing awareness among consumers in Saudi Arabia about the importance of eye health. People are becoming more conscious of the need to take care of their eyes and are actively seeking products and services to maintain good eye health. This has led to an increased demand for eye care products such as contact lenses, glasses, and eye drops. Additionally, there is a growing trend towards using natural and organic eye care products, as consumers are becoming more concerned about the potential side effects of chemical-based products.

Trends in the market: One of the key trends in the Eye Care market in Saudi Arabia is the increasing popularity of laser eye surgery. This procedure has gained widespread acceptance among consumers as a safe and effective way to correct vision problems. The convenience of not having to wear glasses or contact lenses has made laser eye surgery a popular choice for many individuals. Another trend in the market is the rise of online retailing. Consumers are increasingly turning to online platforms to purchase eye care products due to the convenience and wide variety of options available. This trend is expected to continue as more consumers embrace e-commerce.

Local special circumstances: Saudi Arabia has a high prevalence of vision problems, particularly among the younger population. This can be attributed to factors such as a high rate of smartphone and computer usage, as well as a lack of awareness about the importance of eye health. As a result, there is a growing need for eye care services and products in the country. Additionally, the Saudi Arabian government has been actively promoting healthcare initiatives, including eye care, which has further fueled the growth of the market.

Underlying macroeconomic factors: The Eye Care market in Saudi Arabia is also influenced by several macroeconomic factors. The country has a young and growing population, which is driving the demand for eye care products and services. Additionally, the rising disposable income levels in Saudi Arabia have made eye care more affordable and accessible to a larger segment of the population. Furthermore, the government's focus on diversifying the economy has led to increased investment in healthcare infrastructure, including eye care facilities and clinics. This has further contributed to the growth of the market. In conclusion, the Eye Care market in Saudi Arabia is experiencing significant growth and development due to increasing customer preferences for eye care products, key trends such as the popularity of laser eye surgery and online retailing, local special circumstances including a high prevalence of vision problems, and underlying macroeconomic factors such as a young and growing population and rising disposable income levels.

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.