Eye Care - Americas

Americas

Highlights

Revenue in the Eye Care market amounts to US$1.72bn in 2024. The market is expected to grow annually by 2.25% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$1bn in 2024).
In relation to total population figures, per person revenues of US$1.69 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in Americas is experiencing significant growth and development.

Customer preferences: Customers in the Americas have shown a growing interest in eye care products and services. With the increasing awareness about the importance of eye health, more people are seeking regular eye examinations and investing in eyewear solutions. There is also a rising demand for contact lenses and LASIK surgeries as customers look for convenient and long-term vision correction options. Additionally, the aging population in the region has led to a higher demand for eye care products targeted at age-related eye conditions such as cataracts and macular degeneration.

Trends in the market: One of the key trends in the Eye Care market in the Americas is the growing popularity of online retail channels for purchasing eyewear. Customers are increasingly turning to online platforms to browse and purchase a wide range of eyeglasses, contact lenses, and other eye care products. This trend is driven by the convenience of online shopping, competitive pricing, and the availability of a variety of brands and styles. Online retailers are also offering virtual try-on tools, making it easier for customers to find the perfect fit and style from the comfort of their homes. Another trend in the market is the increasing adoption of advanced technologies in eye care. This includes the use of digital imaging and diagnostic tools for more accurate eye examinations, as well as the development of innovative contact lens materials and designs that provide enhanced comfort and vision correction. Additionally, there is a growing interest in wearable technology for eye health monitoring, such as smart glasses that can track eye movements and provide real-time feedback for improving visual performance.

Local special circumstances: In the Americas, the Eye Care market is influenced by various local factors. For example, in North America, the prevalence of myopia among children and young adults has been a growing concern, leading to an increased demand for myopia control treatments and specialized eyewear. In Latin America, the market is shaped by the cultural preference for fashion-forward eyewear, with customers seeking trendy and stylish frames. Additionally, in some countries, such as Brazil, the government has implemented programs to provide free or subsidized eye care services to low-income individuals, which has contributed to the growth of the market.

Underlying macroeconomic factors: The development of the Eye Care market in the Americas is also influenced by underlying macroeconomic factors. The region's strong economic growth, increasing disposable income, and improving healthcare infrastructure have played a significant role in driving the demand for eye care products and services. The rising middle-class population in many countries has resulted in a larger customer base with the ability to afford premium eyewear and invest in advanced eye care treatments. Additionally, the growing prevalence of chronic diseases such as diabetes, which can lead to vision problems, has further fueled the demand for eye care solutions. In conclusion, the Eye Care market in the Americas is experiencing growth and development due to increasing customer preferences for eye care products and services, the adoption of advanced technologies, and local special circumstances. The region's strong macroeconomic factors, such as economic growth and improving healthcare infrastructure, are also contributing to the market's expansion. As the awareness about eye health continues to grow, the Eye Care market in the Americas is expected to further evolve and offer new opportunities for industry players.

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.