Eye Care - Morocco

Morocco

Highlights

Revenue in the Eye Care market amounts to US$13.43m in 2024. The market is expected to grow annually by 3.46% (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 Morocco is experiencing significant growth and development in recent years.

Customer preferences: Moroccan consumers are becoming increasingly aware of the importance of eye health and are seeking out products and services to meet their needs. There is a growing demand for eyeglasses, contact lenses, and other vision correction products. Customers are also showing a preference for high-quality and fashionable eyewear options. Additionally, there is an increasing interest in eye care services such as regular eye exams and preventive care.

Trends in the market: One of the key trends in the Eye Care market in Morocco is the rising prevalence of vision problems. Factors such as increased screen time, aging population, and changing lifestyles contribute to the growing number of individuals requiring vision correction. This trend is driving the demand for eyewear products and services. Another significant trend in the market is the adoption of innovative technologies in the field of eye care. Moroccan consumers are embracing advanced contact lenses, such as those with UV protection and moisture retention features. Additionally, there is a growing interest in digital eye care solutions, including smartphone apps and wearable devices that help monitor and improve eye health.

Local special circumstances: Morocco's geographical location and climate contribute to certain eye health issues. The country experiences high levels of sunlight, which increases the risk of conditions like cataracts and macular degeneration. As a result, there is a higher demand for sunglasses and other sun protection eyewear in the market. Additionally, the prevalence of dry and dusty environments in certain regions of Morocco leads to an increased need for eye drops and other products to alleviate dry eye symptoms.

Underlying macroeconomic factors: Morocco's improving economic conditions and increasing disposable income levels are key drivers of the Eye Care market. As the country's middle class expands, more individuals have the financial means to invest in eye care products and services. Additionally, the government's focus on healthcare and the development of the healthcare infrastructure in the country contribute to the growth of the Eye Care market. In conclusion, the Eye Care market in Morocco is witnessing significant growth and development due to factors such as increasing customer awareness, rising prevalence of vision problems, adoption of innovative technologies, local special circumstances, and underlying macroeconomic factors. This presents opportunities for companies operating in the Eye Care industry to cater to the evolving needs and preferences of Moroccan consumers.

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.