Market Insights Health OTC Pharmaceuticals

Eye Care - Worldwide

Worldwide

In 2024, the Eye Care market market worldwide generated a revenue of €5.06bn.
This market is projected to experience an annual growth rate of 3.08% (CAGR 2024-2029).
When compared to other countries globally, the in the United States generated the highest revenue of €1,165.00m in 2024.
In terms of per capita figures, the revenue generated per person in 2024 amounted to €0.65.
In the United States, the trend in the eye care market is a growing demand for natural and organic products.

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

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Analyst Opinion

The Eye Care market in Worldwide is experiencing significant growth due to increasing customer preferences for eye health and vision correction, as well as the presence of local special circumstances and underlying macroeconomic factors.

Customer preferences: Customers in Worldwide are increasingly prioritizing eye health and vision correction, leading to a growing demand for eye care products and services. This can be attributed to various factors, such as the aging population, the rise in digital device usage, and the increasing awareness about the importance of regular eye check-ups. As a result, there is a growing demand for products like contact lenses, eyeglasses, and eye care supplements.

Trends in the market: One of the key trends in the Eye Care market in Worldwide is the growing popularity of contact lenses. Contact lenses offer convenience and flexibility compared to traditional eyeglasses, making them a preferred choice for many customers. Additionally, technological advancements in contact lens materials and designs have improved comfort and visual acuity, further driving their demand.Another trend in the market is the increasing adoption of online platforms for purchasing eye care products. Online retailers offer a wide range of products, competitive pricing, and the convenience of doorstep delivery, attracting customers who prefer the ease of online shopping. This trend is particularly prominent among the younger demographic who are tech-savvy and value convenience.

Local special circumstances: In certain regions of Worldwide, there are specific local special circumstances that contribute to the growth of the Eye Care market. For example, in countries with high levels of air pollution, there is a greater need for eye care products that protect against environmental factors. Additionally, in regions with a high prevalence of myopia, there is a higher demand for corrective eyewear such as prescription glasses and contact lenses.

Underlying macroeconomic factors: The Eye Care market in Worldwide is influenced by several underlying macroeconomic factors. Economic growth and rising disposable incomes contribute to increased consumer spending on eye care products and services. As economies develop and living standards improve, individuals are more willing to invest in their eye health and prioritize vision correction.Furthermore, advancements in healthcare infrastructure and access to eye care services play a crucial role in the growth of the market. Improved access to eye care professionals, diagnostic tools, and treatment options encourages individuals to seek regular eye check-ups and invest in appropriate eye care products.In conclusion, the Eye Care market in Worldwide is witnessing growth driven by increasing customer preferences for eye health and vision correction. The market is characterized by trends such as the popularity of contact lenses and the adoption of online platforms for purchasing eye care products. Local special circumstances, such as air pollution and high myopia prevalence, also contribute to market growth. Additionally, underlying macroeconomic factors such as economic growth and improved healthcare infrastructure play a significant role in driving the market forward.

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.