Eye Care - Malta | Statista Market Forecast

Eye Care - Malta

Malta

Highlights

Revenue in the Eye Care market amounts to US$836.30k in 2024. The market is expected to grow annually by 3.57% (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$1.56 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

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

Customer preferences: Customers in Malta are increasingly prioritizing their eye health and seeking out products and services that can help them maintain good vision. This is driven by a growing awareness of the importance of regular eye examinations and the need for corrective measures such as glasses or contact lenses. Additionally, there is a rising demand for specialized eye care products, such as those designed for digital screen use or for protection against harmful UV rays.

Trends in the market: One of the key trends in the Eye Care market in Malta is the increasing popularity of online retail channels for purchasing eyewear and related products. This trend is driven by the convenience and accessibility of online shopping, as well as the wide range of options available. Customers can now easily browse and compare different brands and styles, and have their chosen products delivered directly to their doorstep. Another trend in the market is the growing demand for innovative and technologically advanced eye care solutions. Customers in Malta are increasingly interested in products that offer additional benefits, such as blue light filtering lenses or smart contact lenses that can monitor eye health. This trend is fueled by the desire for convenience and the growing awareness of the potential negative effects of digital screens on eye health.

Local special circumstances: Malta's aging population is also contributing to the growth of the Eye Care market. As people age, the risk of developing vision problems, such as presbyopia or cataracts, increases. This has led to an increased demand for products and services that cater to the specific needs of older individuals, such as multifocal lenses or surgical interventions.

Underlying macroeconomic factors: The growing economy in Malta is also driving the development of the Eye Care market. As disposable incomes rise, people are more willing to spend money on eye care products and services. Additionally, the government's focus on healthcare and wellbeing has led to increased investment in the sector, including the establishment of specialized eye care clinics and the expansion of existing facilities. In conclusion, the Eye Care market in Malta is experiencing growth and development due to changing customer preferences, including a greater emphasis on eye health and the adoption of innovative eye care solutions. The popularity of online retail channels and the aging population are also contributing to the market's expansion. Furthermore, the country's growing economy and government investment in healthcare are driving the development of the Eye Care market.

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.