Eye Care - Gabon | Statista Market Forecast

Eye Care - Gabon

Gabon

Highlights

Revenue in the Eye Care market amounts to US$1.02m in 2024. The market is expected to grow annually by 2.71% (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$0.41 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in Gabon is experiencing significant growth and development.

Customer preferences: Customers in Gabon are increasingly prioritizing their eye health and seeking out professional eye care services. This is driven by a growing awareness of the importance of regular eye exams and the need for corrective lenses. Additionally, there is a rising demand for fashionable eyewear among the younger population, leading to an increase in the sales of designer frames and sunglasses.

Trends in the market: One of the key trends in the Eye Care market in Gabon is the increasing adoption of advanced technology and equipment by eye care professionals. This includes the use of digital retinal imaging, optical coherence tomography, and automated refractors, which allow for more accurate diagnoses and personalized treatment plans. Furthermore, there is a growing trend towards the use of contact lenses as a convenient alternative to traditional eyeglasses.

Local special circumstances: Gabon has a relatively high prevalence of certain eye conditions, such as cataracts and refractive errors. This can be attributed to factors such as aging population, exposure to sunlight, and genetic predisposition. As a result, there is a greater demand for cataract surgeries and refractive surgeries, such as LASIK, in the country. Additionally, the government of Gabon has implemented initiatives to improve access to eye care services, including the establishment of eye care centers in rural areas.

Underlying macroeconomic factors: The Eye Care market in Gabon is also influenced by macroeconomic factors such as population growth, urbanization, and disposable income levels. As the population continues to grow and urbanize, there is an increased demand for eye care services in urban areas. Moreover, rising disposable income levels enable individuals to afford the cost of eye exams, eyeglasses, and contact lenses. Additionally, the government's efforts to improve healthcare infrastructure and services contribute to the overall development of the Eye Care market in Gabon.

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.