Market Insights Consumer OTC Pharmaceuticals

Eye Care - Seychelles

Seychelles

Revenue in the Eye Care market amounts to US$60.20k in 2024. The market is expected to grow annually by 3.33% (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$0.56 are generated in 2024.

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

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Analyst Opinion

The Eye Care market in Seychelles is experiencing significant growth and development, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Seychelles are increasingly prioritizing their eye health and seeking professional eye care services. This shift in preferences can be attributed to the growing awareness about the importance of regular eye examinations and the impact of digital screens on eye health. As a result, there has been an increase in demand for optometrists and ophthalmologists, as well as a rise in the sales of prescription eyewear and contact lenses.

Trends in the market: One of the key trends in the Eye Care market in Seychelles is the adoption of advanced technologies in eye care diagnostics and treatments. This includes the use of digital retinal imaging, optical coherence tomography, and laser refractive surgeries. These technologies enable more accurate and efficient diagnosis of eye conditions, leading to better treatment outcomes. Additionally, there is a growing demand for specialty contact lenses, such as those designed for astigmatism or presbyopia, as well as for cosmetic contact lenses.

Local special circumstances: Seychelles is a popular tourist destination, attracting visitors from around the world. This has created a unique market for sunglasses and other protective eyewear. Tourists often purchase sunglasses to protect their eyes from the intense tropical sunlight and to enhance their vacation experience. As a result, there is a thriving market for designer sunglasses and high-quality UV-protected eyewear in Seychelles.

Underlying macroeconomic factors: The growing middle-class population in Seychelles, coupled with increasing disposable incomes, has contributed to the growth of the Eye Care market. As people have more financial resources, they are willing to invest in their eye health and are able to afford higher quality eye care products and services. Additionally, the government of Seychelles has been actively promoting healthcare and wellness initiatives, which has further fueled the demand for eye care services. In conclusion, the Eye Care market in Seychelles is developing rapidly due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The increasing awareness about eye health, adoption of advanced technologies, and the unique market for sunglasses driven by tourism are key drivers of this growth. Furthermore, the growing middle-class population and government initiatives have contributed to the expansion of the market. As a result, the Eye Care market in Seychelles presents significant opportunities for businesses in the industry.

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.