Market Insights Consumer OTC Pharmaceuticals

Eye Care - Hungary

Hungary

Revenue in the Eye Care market amounts to US$13.05m in 2024. The market is expected to grow annually by 3.03% (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$1.31 are generated in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Eye Care market in Hungary has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Eye Care market have shifted towards a greater emphasis on preventive care and overall eye health.

Consumers are becoming more aware of the importance of regular eye examinations and are seeking out products and services that can help them maintain good eye health. This has led to an increased demand for eyeglasses, contact lenses, and other vision correction products. Additionally, there is a growing interest in natural and organic eye care products, as consumers become more conscious of the ingredients used in their personal care products.

Trends in the market reflect the increasing focus on digital technology and its impact on eye health. With the widespread use of smartphones, tablets, and computers, many individuals are experiencing digital eye strain and other vision-related issues. This has created a demand for products and services that can alleviate these symptoms, such as blue light blocking glasses and specialized eye drops.

Additionally, there is a growing interest in innovative technologies such as smart contact lenses and virtual reality-based eye exercises. Local special circumstances in Hungary have also contributed to the development of the Eye Care market. The country has a high prevalence of myopia, particularly among younger populations.

This has led to an increased demand for vision correction products, such as eyeglasses and contact lenses. Additionally, Hungary has a well-established healthcare system that provides access to eye care services for a large portion of the population. This accessibility has encouraged individuals to seek out regular eye examinations and has contributed to the overall growth of the market.

Underlying macroeconomic factors have played a role in the development of the Eye Care market in Hungary. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income. As a result, consumers have more purchasing power and are able to afford higher quality eye care products and services.

Additionally, the aging population in Hungary has contributed to the growth of the market, as older individuals are more likely to require vision correction and other eye care treatments. Overall, the Eye Care market in Hungary is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As consumers become more conscious of their eye health and the impact of digital technology, the demand for eye care products and services is expected to continue to grow.

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.