Market Insights Consumer OTC Pharmaceuticals

Eye Care - South Africa

South Africa

Revenue in the Eye Care market amounts to US$20.89m in 2024. The market is expected to grow annually by 1.74% (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$0.34 are generated in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Eye Care market in South Africa is experiencing significant growth and development in recent years.

Customer preferences: Customers in South Africa are increasingly prioritizing their eye health and seeking out products and services that cater to their specific needs. This includes a growing demand for eyeglasses, contact lenses, and other vision correction products. Additionally, there is a rising interest in preventive eye care, with more individuals seeking regular eye exams to detect and address potential issues early on.

Trends in the market: One major trend in the South African Eye Care market is the increasing adoption of online platforms for purchasing eyewear. With the convenience and wide variety of options available online, more consumers are opting to shop for eyeglasses and contact lenses through e-commerce platforms. This trend is driven by factors such as competitive pricing, easy access to product information, and the ability to compare different brands and styles. Another trend in the market is the growing popularity of specialty eyewear. South African consumers are showing a greater interest in eyewear that not only corrects their vision but also reflects their personal style and fashion preferences. This has led to an increase in the availability of designer eyewear brands and niche eyewear retailers catering to specific customer segments.

Local special circumstances: South Africa has a diverse population with varying eye care needs. This diversity is reflected in the market, with a wide range of products and services available to cater to different customer segments. For example, there is a significant demand for affordable eyewear options that are accessible to lower-income individuals and communities. In response to this, there are initiatives and programs aimed at providing affordable eye care services and products to underserved populations.

Underlying macroeconomic factors: The development of the Eye Care market in South Africa is also influenced by underlying macroeconomic factors. The country's growing middle class and increasing disposable income levels have contributed to the rising demand for eye care products and services. Additionally, the government has recognized the importance of eye health and has implemented policies and programs to improve access to eye care services, particularly in rural areas. These factors have created a favorable environment for the growth and development of the Eye Care market in South Africa.

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.