Eye Care - EMEA | Statista Market Forecast

Eye Care - EMEA

EMEA

Highlights

Revenue in the Eye Care market amounts to US$1.61bn in 2024. The market is expected to grow annually by 2.51% (CAGR 2024-2028).
In global comparison, most revenue is generated United States (US$1bn in 2024).
In relation to total population figures, per person revenues of US$0.66 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in EMEA is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trend.

Customer preferences in the Eye Care market in EMEA are shifting towards more advanced and specialized products and services. Customers are increasingly seeking out innovative solutions that address specific eye health issues, such as myopia or dry eyes. This has led to a rise in demand for products like specialized contact lenses and eye drops.

Additionally, customers are becoming more conscious about the quality and safety of eye care products, leading to an increased demand for products that are backed by scientific research and have a proven track record of effectiveness. Trends in the market are also driving the growth of the Eye Care market in EMEA. One major trend is the increasing prevalence of digital devices in everyday life.

The extensive use of smartphones, tablets, and computers has led to a rise in cases of digital eye strain and other related issues. As a result, there is a growing demand for products and services that alleviate these symptoms and promote eye health in the digital age. This includes products like blue light blocking glasses and eye exercises specifically designed to combat digital eye strain.

Local special circumstances in the EMEA region are also playing a role in the development of the Eye Care market. For example, the aging population in many countries in the region is driving up the demand for eye care services and products. As people age, they are more prone to eye conditions such as cataracts and age-related macular degeneration, leading to an increased need for treatments and interventions.

Additionally, the high prevalence of myopia in certain countries, particularly in East Asia, is driving the demand for products and services that can help manage and correct this condition. Underlying macroeconomic factors are also contributing to the growth of the Eye Care market in EMEA. Economic growth and rising disposable incomes in many countries in the region are enabling more people to afford eye care products and services.

This is particularly true in emerging markets where the middle class is expanding and becoming more affluent. Additionally, advancements in technology and healthcare infrastructure are making eye care more accessible and affordable, further driving market growth. In conclusion, the Eye Care market in EMEA is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

As customers increasingly seek out specialized and innovative eye care products and services, the market is responding with a wide range of offerings. Factors such as the prevalence of digital devices, the aging population, and economic growth are all contributing to the positive growth trajectory 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.