Market Insights Consumer OTC Pharmaceuticals

Eye Care - Southern Africa

Southern Africa

Revenue in the Eye Care market amounts to US$23.41m in 2024. The market is expected to grow annually by 1.87% (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$0.33 are generated in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Eye Care market in Southern Africa is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Eye Care market in Southern Africa are shifting towards a greater emphasis on eye health and wellness.

Consumers are becoming more aware of the importance of regular eye examinations and are seeking out products and services that can help maintain and improve their vision. This has led to an increased demand for eyeglasses, contact lenses, and other vision correction products. Additionally, there is a growing interest in natural and organic eye care products, as consumers become more conscious of the ingredients used in their personal care products.

Trends in the market are also driving the development of the Eye Care industry in Southern Africa. One major trend is the increasing adoption of digital devices, such as smartphones and tablets, which has led to a rise in cases of digital eye strain. This has created a demand for products and services that can alleviate the symptoms of digital eye strain, such as blue light blocking glasses and specialized eye drops.

Another trend is the growing popularity of cosmetic contact lenses, which allow consumers to change the color or appearance of their eyes for fashion or cosmetic purposes. Local special circumstances in Southern Africa are also contributing to the growth of the Eye Care market. Access to quality eye care services and products has historically been limited in many parts of the region, particularly in rural areas.

However, there has been a push to improve access to eye care services, with governments and non-profit organizations working to increase the availability of eye clinics and vision screening programs. This has created new opportunities for eye care providers and retailers to expand their presence in the region. Underlying macroeconomic factors are also playing a role in the development of the Eye Care market in Southern Africa.

The region has seen steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. As a result, more people are able to afford eye care products and services, driving demand in the market. Additionally, the growing middle class in Southern Africa is becoming more health-conscious, leading to increased spending on preventative healthcare, including eye care.

In conclusion, the Eye Care market in Southern Africa is experiencing growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As consumers become more aware of the importance of eye health and wellness, the demand for eye care products and services is expected to continue to rise. This presents opportunities for companies in the industry to expand their offerings and reach new customers in the region.

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.