Eye Care - NAFTA | Statista Market Forecast

Eye Care - NAFTA

NAFTA

Highlights

Revenue in the Eye Care market amounts to US$1.48bn in 2024. The market is expected to grow annually by 2.07% (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$2.90 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in NAFTA has been experiencing significant growth in recent years. Customer preferences for eye care products and services have evolved, leading to new trends in the market.

Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the Eye Care market in NAFTA. Customer preferences in the Eye Care market have shifted towards a greater emphasis on preventative care and overall eye health. Consumers are becoming more proactive in maintaining good vision and are seeking products and services that can help them achieve this goal.

This has led to an increased demand for products such as contact lenses, eye drops, and vitamins specifically designed to support eye health. Additionally, there has been a growing interest in non-invasive treatments for common eye conditions, such as dry eye syndrome and cataracts. Trends in the Eye Care market in NAFTA include the rise of online retail and telemedicine services.

Consumers are increasingly turning to online platforms to purchase eye care products, as it offers convenience and a wider range of options. Online retailers are capitalizing on this trend by offering competitive pricing and personalized recommendations based on individual needs. Telemedicine services have also gained popularity, allowing consumers to consult with eye care professionals remotely, reducing the need for in-person visits.

Local special circumstances in NAFTA have also contributed to the development of the Eye Care market. For example, the aging population in the region has led to an increased demand for vision correction products and treatments. As the population ages, the prevalence of conditions such as presbyopia and age-related macular degeneration increases, driving the need for innovative solutions.

Additionally, the high prevalence of digital device usage has resulted in a greater awareness of eye strain and the need for products that can alleviate symptoms. Underlying macroeconomic factors have played a role in the growth of the Eye Care market in NAFTA. Economic stability and increasing disposable incomes have enabled consumers to invest in their eye health.

As individuals have more financial resources available, they are more likely to prioritize eye care and seek out premium products and services. Additionally, advancements in technology and research have made eye care more accessible and affordable, allowing a larger portion of the population to benefit from these innovations. Overall, the Eye Care market in NAFTA is experiencing growth due to evolving customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

As the market continues to develop, it is expected that there will be further advancements in products and services that cater to the changing needs and preferences of 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.