Market Insights Consumer OTC Pharmaceuticals

Eye Care - United States

United States

Revenue in the Eye Care market amounts to €1.17k in 2024. The market is expected to grow annually by 2.13% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€1,165 in 2024).
In relation to total population figures, per person revenues of €3.41 are generated in 2024.

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

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Analyst Opinion

The Eye Care market in United States has experienced significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Customers in the United States have shown a growing interest in eye care products and services, leading to an increased demand for eyeglasses, contact lenses, and eye care treatments. This can be attributed to several factors, including an aging population, increased screen time, and a greater awareness of the importance of eye health. Additionally, customers are increasingly seeking out personalized and innovative solutions, such as customized lenses and advanced vision correction techniques.

Trends in the market: One of the key trends in the Eye Care market in United States is the rise of online retail. Customers are increasingly turning to online platforms to purchase eyeglasses, contact lenses, and other eye care products. This trend can be attributed to the convenience and competitive pricing offered by online retailers, as well as the ability to access a wide range of products and brands from the comfort of their own homes. Additionally, advancements in technology, such as virtual try-on tools and online prescription renewal services, have further facilitated the growth of online sales in the eye care market. Another trend in the market is the increasing focus on preventive eye care. Customers are becoming more proactive in maintaining their eye health and preventing vision problems. This has led to a rise in the demand for regular eye exams, as well as the adoption of lifestyle changes and preventive measures to protect the eyes. Additionally, there is a growing interest in natural and organic eye care products, as customers seek out alternatives to traditional treatments and medications.

Local special circumstances: The United States has a well-established healthcare system, which has played a significant role in the development of the Eye Care market. The presence of a large number of eye care professionals, including optometrists and ophthalmologists, has ensured easy access to eye care services for customers across the country. Additionally, the strong presence of major eyewear brands and retailers has contributed to the growth of the market.

Underlying macroeconomic factors: The Eye Care market in United States is also influenced by underlying macroeconomic factors. The country's strong economy, high disposable income levels, and favorable reimbursement policies for eye care services have contributed to the growth of the market. Additionally, the increasing prevalence of vision problems, such as myopia and presbyopia, among the population has also fueled the demand for eye care products and services. In conclusion, the Eye Care market in United States is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances. Customers are increasingly seeking out personalized and innovative eye care solutions, while also embracing online retail and preventive eye care. The presence of a well-established healthcare system and favorable macroeconomic factors have further contributed to the growth of the market.

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.