Market Insights Consumer OTC Pharmaceuticals

Eye Care - Africa

Africa

Revenue in the Eye Care market amounts to US$113.90m in 2024. The market is expected to grow annually by 4.60% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$1,256m in 2024).
In relation to total population figures, per person revenues of US$0.09 are generated in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Eye Care market in Africa is witnessing significant growth and development in recent years.

Customer preferences: Customers in Africa are increasingly becoming aware of the importance of eye care and are seeking professional services and products to maintain good eye health. The rising prevalence of eye diseases and conditions, such as cataracts, glaucoma, and refractive errors, has also contributed to the growing demand for eye care services. Additionally, the aging population in many African countries is driving the need for vision correction and preventive eye care.

Trends in the market: One of the key trends in the Eye Care market in Africa is the increasing adoption of advanced technologies and treatments. With the availability of innovative diagnostic tools and surgical techniques, eye care providers are able to offer more accurate diagnoses and effective treatments. This trend is particularly evident in urban areas where access to modern healthcare facilities is relatively higher. Another trend in the market is the growing popularity of corrective eyewear, such as glasses and contact lenses. As more people become aware of the benefits of vision correction, there is a rising demand for fashionable and affordable eyewear products. This trend is driven by changing lifestyles, increasing disposable incomes, and the influence of global fashion trends.

Local special circumstances: The Eye Care market in Africa is influenced by several local special circumstances. Limited access to healthcare facilities, particularly in rural areas, poses a challenge for many individuals seeking eye care services. This is further compounded by the shortage of trained eye care professionals in some regions. Additionally, cultural beliefs and practices may influence the perception and utilization of eye care services in certain communities.

Underlying macroeconomic factors: The development of the Eye Care market in Africa is also influenced by underlying macroeconomic factors. Economic growth and rising disposable incomes in several African countries have contributed to increased healthcare spending, including eye care. Government initiatives and partnerships with international organizations have also played a role in expanding access to eye care services and improving infrastructure. In conclusion, the Eye Care market in Africa is experiencing significant growth and development driven by increasing customer awareness, adoption of advanced technologies, and changing lifestyles. However, challenges related to access to healthcare facilities and shortage of trained professionals remain. The market is expected to continue growing as economic conditions improve and governments invest in healthcare infrastructure.

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.