Market Insights Consumer OTC Pharmaceuticals

Eye Care - Egypt

Egypt

Revenue in the Eye Care market amounts to US$41.48m in 2024. The market is expected to grow annually by 6.64% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$1,256m in 2024).
In relation to total population figures, per person revenues of US$0.36 are generated in 2024.

Key regions: Thailand, Philippines, Indonesia, Canada, United Kingdom

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Analyst Opinion

The Eye Care market in Egypt has been experiencing significant growth in recent years, driven by various factors such as changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Eye Care market in Egypt have shifted towards a greater emphasis on preventive eye care and the use of advanced technologies.

Consumers are becoming more aware of the importance of regular eye check-ups and are increasingly seeking out products and services that can help maintain good eye health. This has led to a growing demand for products such as contact lenses, eyeglasses, and eye drops, as well as services like eye examinations and corrective surgeries. Trends in the market reflect the increasing adoption of digital technology and the growing popularity of e-commerce.

Online platforms have become a preferred channel for purchasing eye care products, offering convenience and a wide range of options. Additionally, there has been a rise in the use of digital devices such as smartphones and computers, leading to an increased need for products that protect against digital eye strain. This has created opportunities for the development of specialized eyewear and eye drops that address these specific concerns.

Local special circumstances, such as the high prevalence of certain eye conditions in Egypt, have also contributed to the growth of the Eye Care market. For example, the country has a relatively high incidence of cataracts, which has led to an increased demand for cataract surgeries and related products. In addition, Egypt has a large population of contact lens wearers, driven by factors such as fashion trends and the desire for convenience.

Underlying macroeconomic factors have played a role in the development of the Eye Care market in Egypt. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and a rise in consumer spending. This has allowed more individuals to afford eye care products and services, driving market growth.

Furthermore, the government has implemented initiatives to improve access to healthcare services, including eye care, which has further stimulated demand in the market. In conclusion, the Eye Care market in Egypt is experiencing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The increasing focus on preventive eye care, the adoption of digital technology, the prevalence of certain eye conditions, and the country's economic growth are all contributing to the development of the market.

Methodology

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.