Market Insights Consumer OTC Pharmaceuticals

Eye Care - Ethiopia

Ethiopia

Revenue in the Eye Care market amounts to US$3.11m in 2024. The market is expected to grow annually by 5.84% (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$0.02 are generated in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Eye Care market in Ethiopia is experiencing significant growth and development due to several key factors.

Customer preferences: In Ethiopia, there is a growing demand for eye care services and products. This can be attributed to the increasing awareness about the importance of maintaining good eye health and the availability of affordable eye care solutions. Customers in Ethiopia are becoming more conscious about their eye health and are willing to invest in products and services that can help improve their vision. Additionally, there is a rising trend of fashion-conscious individuals who are seeking fashionable eyewear options to enhance their personal style.

Trends in the market: One of the major trends in the Eye Care market in Ethiopia is the increasing adoption of contact lenses. Contact lenses offer convenience and flexibility compared to traditional eyeglasses, making them a popular choice among consumers. The market is also witnessing a shift towards the use of advanced technology in eye care products, such as digital lenses and smart glasses. These innovative solutions provide enhanced vision correction and additional features like blue light filtering, which is particularly appealing to customers who spend a significant amount of time in front of screens.

Local special circumstances: Ethiopia has a large population with limited access to eye care services, especially in rural areas. This has led to the emergence of mobile eye care clinics and outreach programs, which aim to provide eye care services to underserved communities. These initiatives have helped increase awareness about eye health and have made eye care more accessible to those who would otherwise have limited or no access to such services.

Underlying macroeconomic factors: The Eye Care market in Ethiopia is also influenced by macroeconomic factors. The country has been experiencing steady economic growth, which has led to an increase in disposable income among the population. This has contributed to the growing demand for eye care products and services. Additionally, the government has implemented policies to promote the development of the healthcare sector, including eye care services. These policies have created a favorable environment for the growth of the Eye Care market in Ethiopia. In conclusion, the Eye Care market in Ethiopia is developing rapidly due to increasing customer preferences for eye care products and services, such as contact lenses and advanced technology solutions. The market is also driven by local special circumstances, including the need for accessible eye care services in rural areas. Furthermore, underlying macroeconomic factors, such as economic growth and government support, are contributing to the expansion 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.