Eye Care - Estonia

Estonia

Highlights

Revenue in the Eye Care market amounts to US$2.14m in 2024. The market is expected to grow annually by 2.10% (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$1.62 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in Estonia is experiencing significant growth and development due to changing customer preferences and trends in the market. Customer preferences in the Eye Care market in Estonia are shifting towards a greater emphasis on preventative care and overall eye health.

Customers are becoming more proactive in taking care of their eyes and seeking out products and services that can help them maintain good vision. This trend is driven by a growing awareness of the importance of eye health and the desire to prevent vision problems before they occur. As a result, there is an increasing demand for products such as eye drops, vitamins, and supplements that promote eye health.

Additionally, customers are also seeking out regular eye exams and screenings to monitor their vision and detect any potential issues early on. In addition to preventative care, there is also a growing demand for eyewear products in the Eye Care market in Estonia. Customers are increasingly interested in fashionable and stylish eyewear options that not only correct their vision but also enhance their personal style.

This trend is driven by the desire for self-expression and the recognition of eyewear as a fashion accessory. As a result, there is a growing market for designer eyeglasses and sunglasses in Estonia. The Eye Care market in Estonia is also influenced by local special circumstances.

The country has a high prevalence of myopia, or nearsightedness, among its population. This is attributed to a combination of genetic factors and lifestyle habits, such as spending excessive time indoors and engaging in near work activities such as reading and using electronic devices. As a result, there is a higher demand for corrective eyewear, such as glasses and contact lenses, in Estonia.

Additionally, the country's aging population also contributes to the growth of the Eye Care market, as older individuals are more likely to experience age-related vision problems and require specialized eye care services. Underlying macroeconomic factors also play a role in the development of the Eye Care market in Estonia. The country's strong economy and high disposable income levels allow customers to invest in their eye health and purchase high-quality eye care products and services.

Additionally, the presence of a well-developed healthcare system and access to comprehensive eye care services further supports the growth of the market. In conclusion, the Eye Care market in Estonia is experiencing growth and development driven by changing customer preferences, local special circumstances, and underlying macroeconomic factors. Customers are increasingly focused on preventative care and eye health, as well as fashionable eyewear options.

The country's high prevalence of myopia and aging population contribute to the demand for corrective eyewear and specialized eye care services. The strong economy and access to comprehensive healthcare services further support the growth 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.