Eye Care - Southern Asia

Southern Asia

Highlights

Revenue in the Eye Care market amounts to US$211.40m in 2024. The market is expected to grow annually by 5.18% (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$0.11 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in Southern Asia is experiencing significant growth and development. Customer preferences are shifting towards more advanced and innovative eye care products and services. There is a growing demand for contact lenses, eyeglasses, and other vision correction solutions. Additionally, there is an increasing awareness about the importance of regular eye check-ups and preventive care.

Customer preferences: Customers in Southern Asia are becoming more conscious about their eye health and are seeking out products and services that can help them maintain good vision. There is a preference for high-quality and durable eyewear that provides both comfort and style. Contact lenses are also gaining popularity among customers, especially among the younger generation who value convenience and flexibility.

Trends in the market: One of the key trends in the Eye Care market in Southern Asia is the increasing adoption of digital technology in eye care products. Smart glasses and contact lenses with built-in sensors are being developed to monitor eye health and provide real-time feedback. These technological advancements are not only improving the accuracy of vision correction but also enhancing the overall user experience. Another trend in the market is the rise of online retail channels for eye care products. Customers are increasingly turning to e-commerce platforms to purchase eyeglasses, contact lenses, and other eye care products. The convenience of online shopping and the availability of a wide range of products at competitive prices are driving this trend.

Local special circumstances: Southern Asia is home to a large population, and the prevalence of vision problems is relatively high. This creates a significant market opportunity for eye care products and services. Additionally, the region has a growing middle class with increasing disposable income, which is driving the demand for premium eye care products. Furthermore, Southern Asia has a diverse cultural landscape, and different countries in the region have their own unique preferences and requirements when it comes to eye care. This necessitates a tailored approach by eye care providers to cater to the specific needs of each market.

Underlying macroeconomic factors: The economic growth and development in Southern Asia have contributed to the expansion of the Eye Care market. Rising income levels and improving living standards have made eye care more affordable and accessible to a larger segment of the population. Moreover, the increasing urbanization and changing lifestyles have led to a higher prevalence of vision problems, further fueling the demand for eye care products and services. In conclusion, the Eye Care market in Southern Asia is witnessing significant growth and development driven by customer preferences for advanced eye care products, the adoption of digital technology, and the rise of online retail channels. Local special circumstances, such as a large population and a growing middle class, further contribute to the market's expansion. The underlying macroeconomic factors, including economic growth and changing lifestyles, also play a crucial role in driving the demand for eye care in the region.

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.