Key regions: Thailand, Philippines, Indonesia, Canada, United Kingdom
The Eye Care market in GCC is experiencing significant growth and development. Customer preferences for eye care products and services are shifting, leading to new trends in the market.
Additionally, there are local special circumstances and underlying macroeconomic factors that contribute to the market's development. Customer preferences in the Eye Care market in GCC are evolving. Consumers are becoming more conscious about their eye health and are seeking products and services that cater to their specific needs.
There is a growing demand for innovative and technologically advanced eye care solutions, such as contact lenses and laser eye surgery. Additionally, consumers are increasingly interested in natural and organic eye care products, as they prioritize their overall well-being. These changing preferences are driving the market towards a more diverse and specialized range of eye care offerings.
Trends in the Eye Care market in GCC reflect the changing customer preferences. One major trend is the rise of online retail channels for eye care products. Consumers are increasingly turning to online platforms to purchase their eye care products, as it offers convenience and a wider range of options.
This trend is reshaping the traditional retail landscape and forcing brick-and-mortar stores to adapt and provide unique in-store experiences to attract customers. Another trend is the growing popularity of preventive eye care services. Consumers are realizing the importance of regular eye check-ups and are proactively seeking professional eye care services to prevent potential eye problems.
This trend is driving the growth of specialized eye care clinics and optometry practices in the region. Local special circumstances in the GCC region also contribute to the development of the Eye Care market. The region has a high prevalence of eye-related conditions, such as cataracts and glaucoma, which has created a significant demand for eye care products and services.
Additionally, the hot and dry climate in the region can lead to dry eyes and other eye discomforts, further driving the need for specialized eye care solutions. The GCC governments are also actively promoting eye health awareness and providing support for the development of the eye care industry. These local circumstances create a favorable environment for the growth of the Eye Care market in the region.
Underlying macroeconomic factors also play a role in the development of the Eye Care market in GCC. The region has a growing population and a rising middle class, which has increased disposable income and purchasing power. As a result, consumers are willing to spend more on eye care products and services.
Additionally, the GCC countries are experiencing rapid urbanization and lifestyle changes, which contribute to the increased demand for eye care solutions. These macroeconomic factors create a positive outlook for the Eye Care market in the region. Overall, the Eye Care market in GCC is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.
The market is expected to continue growing as consumers prioritize their eye health and seek innovative and specialized eye care solutions.
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.
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