Eye Care - Portugal

Portugal

Highlights

Revenue in the Eye Care market amounts to US$19.31m in 2024. The market is expected to grow annually by 2.15% (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$1.89 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in Portugal is experiencing significant growth and development due to various factors. Customer preferences for eye care products and services have shifted, leading to increased demand and innovation in the market.

Additionally, local special circumstances and underlying macroeconomic factors have contributed to the expansion of the Eye Care market in Portugal. Customer preferences in the Eye Care market have evolved in recent years. There is a growing awareness among consumers about the importance of maintaining good eye health, leading to an increased demand for eye care products and services.

Customers are seeking high-quality and innovative solutions to address their specific eye care needs. This has prompted companies in the market to develop new products and technologies that cater to these preferences. Trends in the Eye Care market in Portugal reflect the changing customer preferences.

One notable trend is the rise in demand for contact lenses and glasses. Many consumers are opting for contact lenses as a convenient and comfortable alternative to traditional glasses. This trend is driven by advancements in contact lens technology, such as the development of breathable and moisture-retaining materials.

Additionally, the popularity of fashion-forward eyewear has led to an increase in the sales of glasses, with consumers viewing them as both a functional and fashionable accessory. Another trend in the market is the growing popularity of online retail channels for purchasing eye care products. Many consumers prefer the convenience and accessibility of online shopping, as it allows them to compare prices, read reviews, and make informed decisions from the comfort of their own homes.

This trend has prompted eye care retailers to establish a strong online presence and invest in e-commerce platforms to cater to this growing demand. Local special circumstances in Portugal have also contributed to the development of the Eye Care market. The country has a high prevalence of myopia, which has led to an increased demand for corrective eyewear.

This specific circumstance has created a niche market for companies specializing in myopia management and innovative vision correction solutions. Underlying macroeconomic factors have also played a role in the growth of the Eye Care market in Portugal. The country's improving economy and rising disposable incomes have allowed consumers to allocate more of their budget towards eye care products and services.

Additionally, an aging population has contributed to the expansion of the market, as older individuals often require more frequent eye care and vision correction. In conclusion, the Eye Care market in Portugal is experiencing growth and development due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Companies in the market are adapting to these changes by offering innovative products and services to meet the evolving needs of consumers.

As the market continues to expand, there are opportunities for further growth and investment in the Eye Care sector in Portugal.

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.