Eye Care - EAEU | Statista Market Forecast

Eye Care - EAEU

EAEU

Highlights

Revenue in the Eye Care market amounts to US$127.20m in 2024. The market is expected to grow annually by 2.09% (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$0.70 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in EAEU is experiencing significant growth and development in recent years. Customer preferences are shifting towards more advanced and specialized eye care products and services.

There is a growing demand for innovative solutions to address various eye health issues. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the expansion of the Eye Care market in the region. Customer preferences in the Eye Care market are evolving as people become more aware of the importance of maintaining good eye health.

There is a growing demand for products such as contact lenses, eyeglasses, and eye drops that cater to specific needs and provide enhanced comfort and convenience. Customers are also seeking out specialized eye care services, including regular eye exams and treatments for specific eye conditions. This preference for personalized and specialized eye care is driving the growth of the market.

Trends in the Eye Care market in EAEU are closely aligned with global trends. The market is witnessing a shift towards digital eye care solutions, with the increasing use of telemedicine and online platforms for consultations and prescriptions. This trend is particularly relevant in the context of the COVID-19 pandemic, as people are looking for alternative ways to access eye care services.

Additionally, there is a growing focus on preventive eye care, with an emphasis on early detection and intervention to prevent vision loss and other eye health issues. Local special circumstances in the EAEU region are also contributing to the development of the Eye Care market. The region has a large population, with a significant proportion of people affected by eye conditions such as myopia, presbyopia, and cataracts.

This creates a substantial market for eye care products and services. Moreover, the EAEU countries have a well-established healthcare infrastructure, which facilitates the provision of quality eye care services. This, in turn, encourages people to seek professional help for their eye health needs.

Underlying macroeconomic factors are also driving the growth of the Eye Care market in the EAEU region. The region has been experiencing economic growth, leading to increased disposable income and improved living standards. As a result, people are willing to spend more on their health, including eye care.

Furthermore, the aging population in the region is contributing to the demand for eye care services, as age-related eye conditions become more prevalent. These factors create a favorable market environment for the Eye Care industry to thrive. In conclusion, the Eye Care market in the EAEU region is witnessing significant growth and development.

Customer preferences are shifting towards more advanced and specialized eye care products and services, while trends in the market reflect global developments such as digital solutions and preventive care. Local special circumstances, including a large population affected by eye conditions and a well-established healthcare infrastructure, contribute to the expansion of the market. Additionally, underlying macroeconomic factors such as economic growth and an aging population further drive the growth of the Eye Care market in the EAEU.

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.