Market Insights Consumer OTC Pharmaceuticals

Eye Care - Norway

Norway

Revenue in the Eye Care market amounts to US$17.08m in 2024. The market is expected to grow annually by 1.05% (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$3.10 are generated in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Eye Care market in Norway has been experiencing steady growth in recent years.

Customer preferences: Norwegian consumers have shown a growing interest in eye care products and services. This can be attributed to several factors, such as an aging population and increased awareness of the importance of eye health. Additionally, the rise of digital devices has led to an increase in cases of eye strain and other vision-related issues, further driving the demand for eye care products.

Trends in the market: One of the key trends in the Norwegian Eye Care market is the increasing popularity of contact lenses. Contact lenses offer convenience and improved vision for those who prefer not to wear glasses. Furthermore, advancements in technology have led to the development of contact lenses that are more comfortable to wear and provide better oxygen flow to the eyes. This has attracted a larger consumer base, including individuals who previously relied solely on glasses. Another trend in the market is the growing demand for natural and organic eye care products. Norwegian consumers are becoming more conscious about the ingredients used in their personal care products, including those for eye care. As a result, there has been a rise in the availability of natural and organic eye drops, eye creams, and other eye care products in the market.

Local special circumstances: Norway's high standard of living and disposable income levels have contributed to the growth of the Eye Care market. With a strong economy and a well-established healthcare system, Norwegian consumers have the means to invest in their eye health. Additionally, the country's cold climate and long winter months often result in dry and irritated eyes, leading to an increased demand for eye care products.

Underlying macroeconomic factors: The aging population in Norway is a significant driver of the Eye Care market. As people age, they are more likely to experience vision problems and require eye care products and services. Furthermore, the government's focus on healthcare and preventive measures has led to increased awareness and accessibility to eye care services, further boosting the market. In conclusion, the Eye Care market in Norway is experiencing growth due to customer preferences for contact lenses and natural/organic eye care products, as well as local special circumstances such as the cold climate and aging population. These trends are supported by underlying macroeconomic factors such as a high standard of living and a focus on healthcare.

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.