Market Insights Health OTC Pharmaceuticals

Eye Care - Asia

Asia

In 2024, the revenue in the Eye Care market market in Asia amounts to €1.92bn.
It is projected to experience an annual growth rate of 3.77% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, reaching €1,165.00m in 2024.
In terms of per person revenues, the average in Asia is €0.42 in 2024.
In Asia, Japan leads the way in the Eye Care OTC Pharmaceuticals market with a strong focus on innovative and technologically advanced products.

Key regions: Europe, Australia, Brazil, China, United States

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Analyst Opinion

The Eye Care market in Asia is experiencing significant growth and development due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Customers in Asia are increasingly prioritizing their eye health and are willing to invest in products and services that help maintain good vision. With the rise in digital devices usage, there is a growing concern about eye strain and the harmful effects of blue light emitted by screens. As a result, there is a higher demand for products such as blue light blocking glasses and contact lenses that offer protection and comfort during prolonged screen time. Additionally, the aging population in many Asian countries has led to an increased demand for vision correction products like eyeglasses and contact lenses.

Trends in the market: One of the key trends in the Eye Care market in Asia is the growing popularity of online retail channels for purchasing eyewear products. Online platforms provide customers with a wide range of options, competitive pricing, and convenience. This trend is particularly prevalent in countries like China and India, where e-commerce has experienced significant growth in recent years. Furthermore, there is a rising trend of personalized eye care solutions, with an increasing number of customers opting for customized eyeglasses and contact lenses that cater to their specific vision needs.

Local special circumstances: Asia is a diverse region with unique cultural and economic factors that influence the Eye Care market. For example, in countries like Japan and South Korea, there is a strong emphasis on fashion and style when it comes to eyewear. Customers in these markets are willing to pay a premium for designer eyeglasses and sunglasses that not only correct their vision but also make a fashion statement. On the other hand, in countries like India and Indonesia, affordability is a key factor driving customer preferences. Customers in these markets are more likely to opt for affordable eyewear options that provide good quality at a reasonable price.

Underlying macroeconomic factors: The Eye Care market in Asia is also influenced by underlying macroeconomic factors. The rapid economic growth in countries like China and India has led to an increase in disposable income levels, allowing more people to afford eye care products and services. Additionally, the increasing prevalence of myopia in Asia has created a large customer base for vision correction products. This, coupled with the growing awareness about the importance of eye health, has contributed to the overall growth of the Eye Care market in the region.In conclusion, the Eye Care market in Asia is experiencing growth and development driven by changing customer preferences, emerging trends, and local special circumstances. The increasing focus on eye health, the rise of online retail channels, and the demand for personalized eye care solutions are shaping the market in the region. With the underlying macroeconomic factors supporting this growth, the Eye Care market in Asia is expected to continue expanding in the coming years.

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.