Eye Care - Kyrgyzstan

Kyrgyzstan

Highlights

Revenue in the Eye Care market amounts to US$1.92m in 2024. The market is expected to grow annually by 2.71% (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$0.28 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in Kyrgyzstan is experiencing significant growth and development due to several factors.

Customer preferences: Customers in Kyrgyzstan are increasingly prioritizing their eye health and seeking out eye care products and services. This can be attributed to a growing awareness of the importance of regular eye check-ups and the impact of digital devices on eye health. As a result, there is a rising demand for prescription glasses, contact lenses, and other vision correction products. Additionally, customers are also showing interest in preventive eye care measures such as eye drops and supplements.

Trends in the market: One of the key trends in the Eye Care market in Kyrgyzstan is the increasing popularity of online eyewear retailers. Customers are now able to conveniently browse and purchase eyeglasses and contact lenses online, which has led to a shift away from traditional brick-and-mortar stores. This trend is driven by factors such as competitive pricing, a wider range of products, and the convenience of home delivery. Another trend in the market is the growing demand for fashionable eyewear. Customers are not only looking for functional eyewear but also for stylish frames that complement their personal style. This trend has led to an increase in the availability of trendy eyewear options in the market, catering to different fashion preferences.

Local special circumstances: Kyrgyzstan has a relatively young population, with a significant percentage of the population under the age of 30. This demographic factor contributes to the growth of the Eye Care market as younger individuals are more likely to be proactive about their eye health and seek out vision correction products. Additionally, the increasing urbanization and higher disposable incomes in the country are also driving the demand for eye care products and services.

Underlying macroeconomic factors: The overall economic growth in Kyrgyzstan is positively impacting the Eye Care market. As the economy continues to develop, more individuals have access to healthcare services and can afford to invest in eye care. The government's efforts to improve healthcare infrastructure and increase healthcare spending also contribute to the growth of the Eye Care market. Furthermore, the increasing prevalence of myopia globally is also a contributing factor to the growth of the Eye Care market in Kyrgyzstan. As myopia rates continue to rise, there is a greater need for vision correction products and services, which drives the demand in the market. In conclusion, the Eye Care market in Kyrgyzstan is experiencing growth and development due to increasing customer preferences for eye health, trends such as online eyewear retail and fashionable eyewear, local special circumstances such as a young population and higher disposable incomes, and underlying macroeconomic factors including economic growth and the global rise in myopia rates.

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.