Market Insights Health OTC Pharmaceuticals

Eye Care - Italy

Italy

In the year 2024, Italy's Eye Care market market is projected to generate a revenue of €133.40m.
It is estimated that this market will experience an annual growth rate of 1.86% (CAGR 2024-2029).
When compared globally, the in the United States leads in revenue generation, with an expected revenue of €1,165.00m in 2024.
Taking into account the population figures, in 2024, in Italy is expected to generate a per person revenue of €2.27 in the Eye Care market market.
In Italy, there has been a significant increase in the demand for natural and organic eye care products in the OTC Pharmaceuticals market.

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

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Analyst Opinion

The Eye Care market in Italy has been experiencing significant growth in recent years. Italy is known for its fashion and style, and this extends to eyewear as well. Italians place a high value on their appearance and take pride in wearing fashionable and stylish eyewear.

Customer preferences: Italian consumers have a strong preference for high-quality, designer eyewear. They are willing to pay a premium for eyewear that is made with superior craftsmanship and materials. Italian consumers also value functionality and durability in their eyewear, as well as the latest trends in design.

Trends in the market: One of the key trends in the Eye Care market in Italy is the growing demand for prescription eyewear. As the population ages, the need for vision correction increases, leading to a higher demand for prescription glasses and contact lenses. Additionally, there is a growing awareness of the importance of regular eye examinations and the need for preventive eye care. This has resulted in an increase in the number of optometrists and ophthalmologists in Italy, as well as the availability of eye care services. Another trend in the market is the rise of online retailing. Italian consumers are increasingly turning to online platforms to purchase eyewear, due to the convenience and wide range of options available. Online retailers offer a greater selection of eyewear brands and styles, often at lower prices than traditional brick-and-mortar stores. This has led to increased competition in the market, as well as the need for traditional retailers to adapt to the changing consumer preferences.

Local special circumstances: Italy has a strong tradition of eyewear manufacturing, with several renowned eyewear brands originating from the country. Italian eyewear brands are known for their craftsmanship, attention to detail, and innovative designs. This has contributed to the reputation of Italian eyewear as being of high quality and stylish. Furthermore, Italy is a popular tourist destination, attracting millions of visitors each year. Many tourists are drawn to the country's fashion and luxury brands, including eyewear. This has created a significant market for eyewear in Italy, with tourists often purchasing designer eyewear as a souvenir or a fashion statement.

Underlying macroeconomic factors: The Italian economy has been gradually recovering from the financial crisis of the late 2000s. As the economy improves, consumers have more disposable income to spend on non-essential items such as eyewear. The increase in consumer spending has contributed to the growth of the Eye Care market in Italy. Additionally, the aging population in Italy has also had an impact on the Eye Care market. As the population ages, the prevalence of age-related eye conditions, such as presbyopia and cataracts, increases. This has led to a higher demand for vision correction and eye care services. In conclusion, the Eye Care market in Italy is experiencing growth due to customer preferences for high-quality, designer eyewear, the increasing demand for prescription eyewear, the rise of online retailing, the country's strong tradition of eyewear manufacturing, the popularity of Italy as a tourist destination, the gradual recovery of the Italian economy, and the 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.