Eye Care - Bhutan | Statista Market Forecast

Eye Care - Bhutan

Bhutan

Highlights

Revenue in the Eye Care market amounts to US$252.00k in 2024. The market is expected to grow annually by 2.82% (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$0.32 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in Bhutan has been experiencing significant growth in recent years. Customer preferences have shifted towards a greater emphasis on eye health and the demand for eye care products and services has increased. This trend can be attributed to several factors, including changing lifestyles, increasing awareness about eye health, and advancements in technology.

Customer preferences: Customers in Bhutan are becoming more conscious about their eye health and are actively seeking ways to maintain good vision. This has led to a growing demand for eye care products such as contact lenses, eyeglasses, and eye drops. Additionally, there is a rising interest in preventive eye care, with customers opting for regular eye check-ups and screenings. This shift in customer preferences can be attributed to the increasing prevalence of eye-related disorders and the desire to maintain good vision for a longer period of time.

Trends in the market: One of the major trends in the Eye Care market in Bhutan is the increasing popularity of contact lenses. Customers are increasingly opting for contact lenses as they offer convenience and freedom from wearing traditional eyeglasses. Contact lenses are also seen as a fashion accessory, allowing customers to change their eye color or enhance their natural eye color. Moreover, advancements in contact lens technology have made them more comfortable and suitable for a wider range of customers. Another trend in the market is the growing demand for eyeglasses with blue light filters. With the increasing use of digital devices such as smartphones, tablets, and computers, customers are concerned about the potential harmful effects of blue light on their eyes. As a result, there is a growing demand for eyeglasses that can filter out blue light and protect the eyes from digital eye strain.

Local special circumstances: Bhutan is a small country located in the eastern Himalayas, and its unique geography and cultural heritage contribute to the development of the Eye Care market. The country's mountainous terrain and high altitude can have an impact on eye health, with conditions such as dry eyes and increased sensitivity to UV radiation being more prevalent. This has led to a greater demand for specialized eye care products and services that cater to the specific needs of the population.

Underlying macroeconomic factors: The growing Eye Care market in Bhutan can also be attributed to the country's overall economic development. As Bhutan's economy continues to grow, disposable incomes have increased, allowing customers to spend more on eye care products and services. Additionally, the government's focus on healthcare and well-being has led to greater investment in the healthcare sector, including eye care facilities and infrastructure. This has further contributed to the growth of the Eye Care market in Bhutan. In conclusion, the Eye Care market in Bhutan is experiencing significant growth due to changing customer preferences, including a greater emphasis on eye health and the demand for eye care products and services. The market is also influenced by local special circumstances such as the country's geography and cultural heritage. Additionally, underlying macroeconomic factors such as economic development and government investment in healthcare have contributed to the growth of the market. Overall, the Eye Care market in Bhutan is poised for continued expansion in the coming years.

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.