Market Insights Consumer OTC Pharmaceuticals

Eye Care - Northern Europe

Northern Europe

Revenue in the Eye Care market amounts to US$86.98m in 2024. The market is expected to grow annually by 2.06% (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$2.57 are generated in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Eye Care market in Northern Europe is experiencing significant growth and development due to several key factors. Customer preferences for eye care products and services, along with local special circumstances and underlying macroeconomic factors, are driving the trends in this market.

Customer preferences in Northern Europe are shifting towards a greater emphasis on eye health and wellness. Consumers are becoming more aware of the importance of regular eye examinations and are seeking out products and services that can help them maintain good vision. This has led to an increased demand for eyeglasses, contact lenses, and other vision correction solutions.

Additionally, there is a growing interest in natural and organic eye care products, as consumers become more conscious of the ingredients they put on their eyes. Trends in the market are also being influenced by advancements in technology. Northern Europe is known for its innovative healthcare sector, and the eye care market is no exception.

There has been a rise in the use of digital tools and devices for eye examinations, allowing for more convenient and accessible eye care services. This includes online eye tests and telemedicine consultations, which have become particularly popular during the COVID-19 pandemic. Local special circumstances in Northern Europe, such as the high prevalence of myopia, are also contributing to the growth of the eye care market.

Myopia, or nearsightedness, is a common vision problem in the region, and there is a growing need for corrective measures. This has led to an increase in the demand for eyeglasses and contact lenses, as well as the development of innovative myopia control solutions. Underlying macroeconomic factors, such as increasing disposable incomes and an aging population, are also driving the growth of the eye care market in Northern Europe.

As incomes rise, consumers have more purchasing power to invest in their eye health. Additionally, the aging population is more prone to age-related eye conditions, such as cataracts and macular degeneration, leading to a greater demand for eye care products and services. Overall, the Eye Care market in Northern Europe is experiencing growth and development due to changing customer preferences, advancements in technology, local special circumstances, and underlying macroeconomic factors.

As consumers become more aware of the importance of eye health and wellness, and as technology continues to advance, the market is expected to continue to expand in the coming years.

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.