Eye Care - Iraq | Statista Market Forecast

Eye Care - Iraq

Iraq

Highlights

Revenue in the Eye Care market amounts to US$17.56m in 2024. The market is expected to grow annually by 2.55% (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$0.38 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in Iraq has been experiencing significant growth in recent years, driven by various factors such as increasing awareness about eye health, growing prevalence of eye disorders, and advancements in medical technology.

Customer preferences: In Iraq, customers are increasingly seeking eye care services and products to address a wide range of eye health issues. This includes both corrective and preventive measures, such as prescription glasses, contact lenses, and eye surgeries. There is also a growing demand for specialized eye care services, including treatments for cataracts, glaucoma, and refractive errors. Additionally, customers are showing a preference for products and services that are affordable, accessible, and of high quality.

Trends in the market: One of the key trends in the Eye Care market in Iraq is the increasing adoption of advanced technologies and techniques for eye surgeries and treatments. This includes the use of laser technology for vision correction procedures like LASIK, as well as the introduction of minimally invasive surgical techniques for cataract and glaucoma treatments. These advancements have not only improved the effectiveness and safety of eye care procedures, but have also reduced the recovery time and post-operative complications. Another trend in the market is the growing popularity of online platforms for purchasing eye care products. Customers are increasingly turning to online retailers to purchase prescription glasses, contact lenses, and other eye care products, due to the convenience and competitive pricing offered by these platforms. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across various sectors, including eye care.

Local special circumstances: Iraq faces certain unique challenges in the Eye Care market. The country has a high prevalence of eye disorders, including cataracts, glaucoma, and refractive errors, which can be attributed to various factors such as aging population, poor access to healthcare facilities, and limited awareness about eye health. Additionally, the ongoing political and security issues in the country have also impacted the availability and accessibility of eye care services in certain regions.

Underlying macroeconomic factors: The Eye Care market in Iraq is influenced by several macroeconomic factors. The country's population is growing, with a large proportion of young individuals who are increasingly aware of the importance of eye health. Additionally, rising disposable incomes and improving healthcare infrastructure are enabling more people to seek eye care services. Furthermore, the government's focus on improving healthcare services and increasing investments in the healthcare sector are also driving the growth of the Eye Care market in Iraq.

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.