Eye Care - Burkina Faso

Burkina Faso

Highlights

Revenue in the Eye Care market amounts to US$403.60k in 2024. The market is expected to grow annually by 2.83% (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$0.02 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in Burkina Faso is experiencing significant growth and development. Customer preferences are shifting towards a greater emphasis on eye health and the demand for eye care products and services is increasing. This trend can be attributed to several factors, including the rising prevalence of eye diseases and the growing awareness of the importance of regular eye examinations.

Customer preferences: Burkina Faso, like many other countries in the region, has seen a rise in the prevalence of eye diseases such as cataracts, glaucoma, and refractive errors. As a result, there is a growing demand for eye care products and services, including prescription glasses, contact lenses, and eye surgeries. Customers are increasingly prioritizing their eye health and seeking out solutions to improve their vision and overall eye health.

Trends in the market: One of the key trends in the Eye Care market in Burkina Faso is the increasing availability and affordability of eye care products and services. The government and various non-profit organizations have been working to improve access to eye care services in rural areas, where the need is often the greatest. This has led to the establishment of eye care clinics and the distribution of affordable eyeglasses and medications. Another trend in the market is the growing popularity of online shopping for eye care products. With the increasing penetration of internet and smartphones in Burkina Faso, customers are now able to easily access a wide range of eye care products and services online. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increased preference for online shopping and reduced in-person visits to eye care clinics.

Local special circumstances: Burkina Faso is a landlocked country with a predominantly rural population. This presents unique challenges in terms of access to eye care services. Many people in rural areas have limited access to eye care clinics and may have to travel long distances to receive treatment. Additionally, there is a lack of trained eye care professionals in the country, particularly in rural areas. These local special circumstances contribute to the growing demand for accessible and affordable eye care products and services.

Underlying macroeconomic factors: The Eye Care market in Burkina Faso is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and improved living standards. As a result, more people are able to afford eye care products and services. Additionally, the government has been investing in healthcare infrastructure and initiatives to improve access to healthcare services, including eye care. These macroeconomic factors are creating a favorable environment for the growth and development of the Eye Care market in Burkina Faso.

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.