Eye Care - Asia | Statista Market Forecast

Eye Care - Asia

Asia

Highlights

Revenue in the Eye Care market amounts to US$2.07bn in 2024. The market is expected to grow annually by 3.56% (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$0.46 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in Asia is experiencing significant growth and development, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Eye Care market in Asia are shifting towards a greater emphasis on preventative care and overall eye health.

Customers are becoming more proactive in managing their eye health, seeking regular check-ups and adopting preventive measures to maintain good vision. Additionally, there is a growing demand for innovative and technologically advanced eye care products and services, as customers are increasingly aware of the benefits of using high-quality and effective eye care solutions. Trends in the market include the rising popularity of online and e-commerce platforms for purchasing eye care products.

Customers are increasingly turning to online channels to conveniently access a wide range of eye care products, compare prices, and read customer reviews. This trend is further fueled by the increasing penetration of smartphones and internet connectivity in the region. Additionally, there is a growing interest in natural and organic eye care products, as customers become more conscious of the ingredients used in their eye care products and their potential impact on their overall health.

Local special circumstances in the Eye Care market in Asia include the presence of a large aging population and a high prevalence of eye-related diseases and conditions. As the population ages, the demand for eye care products and services is expected to increase significantly. Furthermore, certain countries in Asia, such as Japan and South Korea, have a strong culture of beauty and skincare, which extends to the eye care market.

Customers in these countries are willing to invest in high-quality and effective eye care products to maintain youthful and healthy-looking eyes. Underlying macroeconomic factors driving the development of the Eye Care market in Asia include the region's rapid economic growth, increasing disposable incomes, and improving healthcare infrastructure. As countries in Asia experience economic prosperity, customers have more purchasing power to spend on eye care products and services.

Additionally, the improvement in healthcare infrastructure, including the availability of advanced eye care facilities and services, has contributed to the growth of the market. In conclusion, the Eye Care market in Asia is witnessing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customers are increasingly prioritizing preventative eye care, leading to a shift in preferences towards innovative and technologically advanced products.

Online channels are gaining popularity, and there is a growing interest in natural and organic eye care solutions. The presence of a large aging population and a high prevalence of eye-related diseases further contribute to the market's growth. Finally, the region's rapid economic growth, increasing disposable incomes, and improving healthcare infrastructure are driving the development of the Eye Care market in Asia.

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.