Eye Care - Kuwait | Statista Market Forecast

Eye Care - Kuwait

Kuwait

Highlights

Revenue in the Eye Care market amounts to US$1.53m in 2024. The market is expected to grow annually by 2.42% (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$0.35 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

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

Customer preferences: Customers in Kuwait are increasingly prioritizing their eye health and are seeking out products and services that cater to their specific needs. They are becoming more aware of the importance of regular eye check-ups and are willing to invest in high-quality eyewear and contact lenses. Additionally, there is a growing demand for innovative eye care solutions, such as advanced contact lenses and specialized eye treatments.

Trends in the market: One of the key trends in the Eye Care market in Kuwait is the rising popularity of designer eyewear. Customers are willing to spend more on branded eyeglasses and sunglasses, as they view them as fashion accessories that reflect their personal style. This trend has led to an increase in the number of luxury eyewear brands entering the Kuwaiti market and the opening of exclusive eyewear boutiques. Another trend in the market is the growing demand for contact lenses. Kuwaiti customers are increasingly opting for contact lenses as a convenient and comfortable alternative to traditional eyeglasses. This trend is driven by factors such as improved technology, increased availability of different types of contact lenses, and a desire for enhanced aesthetics.

Local special circumstances: Kuwait has a high prevalence of dry eye syndrome, which is a condition that affects the quality and quantity of tears produced by the eyes. This special circumstance has led to a higher demand for eye drops and other dry eye treatments in the market. Additionally, the hot and dry climate in Kuwait can exacerbate dry eye symptoms, further driving the need for effective eye care products.

Underlying macroeconomic factors: The Eye Care market in Kuwait is also influenced by several macroeconomic factors. The country has a high per capita income and a strong consumer culture, which contributes to the willingness of customers to spend on eye care products and services. Furthermore, Kuwait has a young and growing population, which presents a significant market opportunity for eye care providers. As the population continues to grow and age, the demand for eye care products and services is expected to increase further. In conclusion, the Eye Care market in Kuwait is experiencing growth and development driven by customer preferences for high-quality eyewear and contact lenses, the rising popularity of designer eyewear, and the increasing demand for innovative eye care solutions. Special circumstances such as the high prevalence of dry eye syndrome and the hot climate in Kuwait also contribute to the market dynamics. The underlying macroeconomic factors, including high per capita income and a growing population, further support the growth of the Eye Care market in Kuwait.

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.