Eye Care - Mexico | Statista Market Forecast

Eye Care - Mexico

Mexico

Highlights

Revenue in the Eye Care market amounts to US$73.17m in 2024. The market is expected to grow annually by 2.04% (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$0.57 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

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

Customer preferences: Mexican consumers are becoming increasingly aware of the importance of eye health and are seeking out products and services to maintain good vision. They are willing to invest in high-quality eye care products, including contact lenses, glasses, and eye drops. Additionally, there is a growing demand for specialized eye care services, such as LASIK surgery and cataract treatments.

Trends in the market: One of the key trends in the Mexican Eye Care market is the increasing popularity of contact lenses. Many consumers are opting for contact lenses as a convenient and comfortable alternative to traditional eyeglasses. This trend is driven by factors such as improved technology, a wider range of available options, and increased affordability. Another trend is the growing demand for vision correction procedures, such as LASIK surgery. As the technology and techniques for these procedures continue to advance, more Mexican consumers are opting for permanent vision correction solutions. This trend is also fueled by the desire for convenience and freedom from glasses or contact lenses.

Local special circumstances: Mexico has a large and growing population, which provides a significant customer base for the Eye Care market. Additionally, the country has a high prevalence of vision problems, such as myopia and presbyopia, which further drives the demand for eye care products and services.

Underlying macroeconomic factors: The Mexican economy has been growing steadily in recent years, which has led to an increase in disposable income for many consumers. As a result, they are more willing and able to spend on eye care products and services. Additionally, the government has implemented policies to improve access to healthcare, including eye care services, which has further contributed to the growth of the market. In conclusion, the Eye Care market in Mexico is experiencing significant growth and development due to increasing customer awareness and preferences, as well as favorable macroeconomic factors. The market is characterized by a growing demand for contact lenses, vision correction procedures, and other eye care products and services. With a large and growing population, as well as a high prevalence of vision problems, Mexico presents a lucrative opportunity for companies operating in the Eye Care industry.

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.