Market Insights Consumer OTC Pharmaceuticals

Eye Care - Georgia

Georgia

Revenue in the Eye Care market amounts to US$2.74m in 2024. The market is expected to grow annually by 4.72% (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$0.74 are generated in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Eye Care market in Georgia has been experiencing significant growth in recent years. Customer preferences have shifted towards a greater emphasis on eye health and the demand for eye care products and services has increased accordingly.

Additionally, several trends in the market have contributed to this growth. Customer preferences in the Eye Care market in Georgia have been influenced by a growing awareness of the importance of eye health. As people become more educated about the potential risks and consequences of neglecting their eye health, they are seeking out products and services that can help them maintain good vision.

This has led to an increased demand for eyeglasses, contact lenses, and other vision correction solutions. Another factor driving the growth of the Eye Care market in Georgia is the aging population. As the population ages, the prevalence of age-related eye conditions such as cataracts and macular degeneration increases.

This has created a larger customer base for eye care providers and has led to an increased demand for surgical procedures such as cataract surgery. In addition to these customer preferences, several trends in the market have contributed to its growth. One such trend is the increasing availability and affordability of eye care products and services.

Advances in technology and manufacturing processes have made eyeglasses, contact lenses, and other vision correction solutions more accessible to a wider range of consumers. This has allowed more people to address their vision needs and has contributed to the overall growth of the market. Another trend in the Eye Care market in Georgia is the rise of online retail.

Many consumers are now choosing to purchase eyeglasses, contact lenses, and other eye care products online. This trend has been driven by the convenience and cost savings associated with online shopping. Additionally, the COVID-19 pandemic has accelerated the shift towards online retail as consumers seek to minimize their exposure to public spaces.

Local special circumstances in Georgia have also played a role in the development of the Eye Care market. The country has a well-developed healthcare system that provides access to quality eye care services. This has helped to foster a culture of proactive eye health management among the population.

Additionally, Georgia has a high rate of myopia, which has further increased the demand for vision correction solutions. Underlying macroeconomic factors have also contributed to the growth of the Eye Care market in Georgia. The country has experienced steady economic growth in recent years, which has increased disposable incomes and purchasing power.

This has allowed more people to afford eye care products and services, further driving the growth of the market. Additionally, the government has implemented policies to promote and support the development of the healthcare sector, including the Eye Care market. These policies have created a favorable business environment for eye care providers and have encouraged investment in the sector.

Overall, the Eye Care market in Georgia is experiencing significant growth due to shifting customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As the population continues to prioritize eye health and advancements in technology and online retail continue, the market is expected to continue to grow in the coming years.

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.