Market Insights Consumer OTC Pharmaceuticals

Eye Care - Southeast Asia

Southeast Asia

Revenue in the Eye Care market amounts to US$264.20m in 2024. The market is expected to grow annually by 4.27% (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$0.38 are generated in 2024.

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

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Analyst Opinion

The Eye Care market in Southeast Asia is experiencing significant growth and development. Customer preferences in the Eye Care market in Southeast Asia are shifting towards a greater emphasis on preventive care and a proactive approach to maintaining eye health.

Customers are becoming more aware of the importance of regular eye check-ups and are seeking out products and services that can help them prevent or manage eye conditions. Additionally, there is a growing demand for innovative and technologically advanced eye care solutions, such as smart contact lenses and digital eye exams. Trends in the market include the rising prevalence of myopia, or nearsightedness, in the region.

This trend is attributed to various factors, including increased screen time, urbanization, and changing lifestyles. As a result, there is a growing demand for corrective eyewear, such as glasses and contact lenses. Additionally, there is an increasing focus on eye health among the aging population, leading to a higher demand for products and services that address age-related eye conditions, such as cataracts and glaucoma.

Local special circumstances in Southeast Asia, such as the high population density and urbanization, contribute to the growth of the Eye Care market. The region's rapid urbanization has led to an increase in the number of individuals living in cities, where access to eye care services is more readily available. Furthermore, the growing middle class in Southeast Asia has higher disposable income, enabling them to invest in eye care products and services.

Underlying macroeconomic factors, such as the region's economic growth and increasing healthcare expenditure, also play a significant role in the development of the Eye Care market in Southeast Asia. As the economies in the region continue to grow, individuals have more purchasing power to spend on eye care products and services. Additionally, governments in Southeast Asia are increasingly recognizing the importance of eye health and are investing in healthcare infrastructure and initiatives to improve access to eye care services.

In conclusion, the Eye Care market in Southeast Asia is experiencing growth and development driven by changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As customers become more proactive about their eye health, there is a growing demand for preventive eye care solutions. The rising prevalence of myopia and the aging population also contribute to the growth of the market.

Local factors, such as high population density and urbanization, further support the development of the market. Additionally, the region's economic growth and increasing healthcare expenditure provide opportunities for the Eye Care market to expand in Southeast Asia.

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.