Market Insights Consumer OTC Pharmaceuticals

Eye Care - Nordics

Nordics

Revenue in the Eye Care market amounts to US$77.67m in 2024. The market is expected to grow annually by 1.90% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$1,256m in 2024).
In relation to total population figures, per person revenues of US$2.77 are generated in 2024.

Key regions: Thailand, Philippines, Indonesia, Canada, United Kingdom

Market

Region

Region comparison

Currency

Analyst Opinion

The Eye Care market in Nordics has been experiencing significant growth in recent years. Customer preferences have shifted towards more advanced and innovative eye care products and services.

The market has also been influenced by local special circumstances and underlying macroeconomic factors. Customer preferences in the Eye Care market in Nordics have evolved with the increasing awareness about eye health. Consumers are now more conscious about maintaining good eye health and preventing vision problems.

This has led to a higher demand for products such as contact lenses, eyeglasses, and eye drops. Additionally, there has been a growing interest in advanced technologies such as laser eye surgery and other corrective procedures. Trends in the market reflect the changing customer preferences.

The demand for contact lenses has been steadily increasing, driven by factors such as convenience, comfort, and improved vision correction. Consumers are also opting for eyeglasses that are not only functional but also fashionable, leading to a rise in the popularity of designer eyewear. Furthermore, there has been a shift towards natural and organic eye care products, as consumers become more conscious about the ingredients used in their personal care products.

Local special circumstances in the Nordics have also played a role in the development of the Eye Care market. The region has a high prevalence of eye conditions such as myopia and dry eye syndrome. This has created a need for specialized eye care products and services to cater to the specific needs of the population.

Additionally, the cold and dry climate in the Nordics can exacerbate certain eye conditions, leading to a higher demand for moisturizing eye drops and other related products. Underlying macroeconomic factors have further contributed to the growth of the Eye Care market in Nordics. The region has a high disposable income and a strong healthcare system, which has made eye care more accessible to the population.

Furthermore, the aging population in the Nordics has resulted in an increased demand for eye care services, as age-related vision problems become more prevalent. In conclusion, the Eye Care market in Nordics is experiencing growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The market is driven by the demand for advanced and innovative eye care products and services, as well as the increasing awareness about eye health.

As the market continues to evolve, it is expected to witness further advancements and innovations to meet the changing needs of the population.

Methodology

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.