Eye Care - North Macedonia

North Macedonia

Highlights

Revenue in the Eye Care market amounts to US$1.78m in 2024. The market is expected to grow annually by 1.71% (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$0.85 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in North Macedonia is experiencing steady growth due to increasing customer awareness about the importance of eye health and the availability of advanced eye care products and services.

Customer preferences: Customers in North Macedonia are becoming more conscious about their eye health and are seeking regular eye examinations to detect and prevent eye diseases. They are also showing a preference for high-quality eyewear and contact lenses that offer both style and functionality. Additionally, there is a growing demand for advanced surgical procedures such as LASIK and cataract surgeries.

Trends in the market: One of the key trends in the Eye Care market in North Macedonia is the adoption of digital technology in eye examinations and diagnostics. The use of digital retinal imaging and optical coherence tomography (OCT) has made it easier for eye care professionals to detect and diagnose various eye conditions. This trend is driven by the increasing availability of advanced diagnostic equipment and the desire for more accurate and efficient eye examinations. Another trend in the market is the growing popularity of online eyewear shopping. Customers are increasingly opting to purchase eyeglasses and contact lenses online due to the convenience and wider range of options available. Online retailers are capitalizing on this trend by offering virtual try-on tools and home delivery services.

Local special circumstances: North Macedonia has a relatively small population, which means that the Eye Care market is not as large as in some other countries. However, this also presents an opportunity for eye care providers to establish a strong presence and build customer loyalty. Additionally, the government of North Macedonia has been taking steps to improve access to eye care services in rural areas, which is expected to further drive market growth.

Underlying macroeconomic factors: The growing Eye Care market in North Macedonia is also influenced by several macroeconomic factors. The country has been experiencing steady economic growth, which has led to an increase in disposable income and the ability to spend more on healthcare, including eye care. Furthermore, the aging population in North Macedonia is contributing to the growth of the market, as older individuals are more prone to age-related eye conditions and require regular eye examinations and treatments. In conclusion, the Eye Care market in North Macedonia is developing due to increasing customer awareness, adoption of digital technology, and the availability of advanced eye care products and services. The market is also influenced by local special circumstances, such as the small population size and government initiatives to improve access to eye care services. The underlying macroeconomic factors, including economic growth and an aging population, are further driving the growth of the 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.