Market Insights Health Pharmacies OTC Products

Eye Care (Pharmacies) - South Africa

South Africa

Revenue in the Eye Care market is projected to reach €2.35m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.74%, resulting in a market volume of €2.69m by 2029.
In global comparison, most revenue will be generated in Japan (€838.70m in 2024).
In relation to total population figures, per person revenues of €0.04 are generated in 2024.

Key regions: Canada, Europe, India, Australia, South Korea

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Eye Care (Pharmacies) market in South Africa is experiencing steady growth due to increasing customer awareness about the importance of eye health and the availability of a wide range of eye care products in pharmacies.

Customer preferences: Customers in South Africa are becoming more conscious about their eye health and are seeking out products that can help them maintain good vision. They are looking for products such as contact lenses, eye drops, and vitamins that can improve their eye health and address common issues like dry eyes and eye strain. Additionally, customers are also interested in products that offer UV protection and can prevent eye damage caused by prolonged exposure to the sun.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in South Africa is the increasing demand for contact lenses. Contact lenses offer convenience and flexibility compared to traditional eyeglasses, and they are becoming a popular choice among customers who want to correct their vision without compromising their appearance. The market is also seeing a growing demand for specialized contact lenses, such as those designed for astigmatism or presbyopia. Another trend in the market is the rising popularity of natural and organic eye care products. Customers are becoming more conscious about the ingredients used in their eye care products and are opting for products that are free from harmful chemicals and additives. This trend is driven by the increasing awareness about the potential side effects of certain ingredients and the desire for more sustainable and eco-friendly options.

Local special circumstances: South Africa has a high prevalence of eye conditions such as cataracts, glaucoma, and refractive errors. This creates a significant demand for eye care products and services in the country. Additionally, South Africa has a diverse population with different cultural and ethnic backgrounds, which influences customer preferences and the types of eye care products that are in demand.

Underlying macroeconomic factors: The Eye Care (Pharmacies) market in South Africa is influenced by several macroeconomic factors. The country has a growing middle-class population with increasing disposable income, which allows customers to spend more on healthcare and eye care products. Additionally, the government has implemented various initiatives to improve access to healthcare services, including eye care, which has further contributed to the growth of the market. In conclusion, the Eye Care (Pharmacies) market in South Africa is growing due to increasing customer awareness about eye health, the availability of a wide range of eye care products, and the rising demand for contact lenses and natural eye care products. The market is also influenced by local special circumstances such as the high prevalence of eye conditions and the diverse population. These factors, along with underlying macroeconomic factors, are driving the growth of the market in South Africa.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.