Eye Care - China | Statista Market Forecast

Eye Care - China

China

Highlights

Revenue in the Eye Care market amounts to US$472.20m in 2024. The market is expected to grow annually by 3.71% (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$0.33 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in China has been experiencing significant growth in recent years.

Customer preferences: Chinese consumers are becoming increasingly aware of the importance of eye health and are willing to invest in products and services that can help maintain good vision. With the rise in digital device usage and the prevalence of myopia among the population, there is a growing demand for eye care solutions such as glasses, contact lenses, and eye drops. Additionally, consumers are becoming more conscious about the quality and safety of the products they use, leading to a preference for trusted brands and products that have been recommended by eye care professionals.

Trends in the market: One of the key trends in the Eye Care market in China is the increasing popularity of online sales channels. E-commerce platforms have made it easier for consumers to access a wide range of eye care products and compare prices, leading to increased competition among brands. Online platforms also provide a convenient way for consumers to purchase contact lenses and other eye care products without the need for a prescription. This trend has been further accelerated by the COVID-19 pandemic, which has led to a shift towards online shopping across various industries. Another trend in the market is the growing demand for innovative and technologically advanced eye care products. Chinese consumers are willing to invest in products that offer additional features such as blue light protection, UV protection, and anti-glare properties. This trend is driven by the increasing use of digital devices and the desire to protect eyes from the harmful effects of prolonged screen time. Manufacturers are responding to this demand by introducing new product lines that cater to these specific needs.

Local special circumstances: China has a large population with a high prevalence of myopia, especially among children and young adults. This has led to a greater focus on preventive measures and early intervention in the Eye Care market. Parents are increasingly concerned about their children's eye health and are willing to invest in products and services that can help prevent or slow down the progression of myopia. This has created opportunities for companies specializing in myopia control solutions such as orthokeratology lenses and eye exercises.

Underlying macroeconomic factors: China's rapid economic growth and rising disposable income levels have contributed to the expansion of the Eye Care market. As more people enter the middle class, they have more purchasing power to spend on eye care products and services. Additionally, the aging population in China is also driving demand for eye care products, as older individuals are more likely to experience age-related vision problems. In conclusion, the Eye Care market in China is experiencing growth due to increasing consumer awareness about eye health, the popularity of online sales channels, the demand for innovative products, and the special circumstances of a large population with a high prevalence of myopia. These factors, combined with China's economic growth and aging population, are driving the expansion of the market.

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.