Eye Care - Western Africa

Western Africa

Highlights

Revenue in the Eye Care market amounts to US$18.60m in 2024. The market is expected to grow annually by 4.82% (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$0.04 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

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

Customer preferences: Customers in Western Africa have shown a growing interest in eye care products and services. As the region's population continues to grow and age, there is an increasing demand for vision correction solutions such as glasses and contact lenses. Additionally, there is a growing awareness of the importance of regular eye examinations for maintaining good eye health. This has led to an increased demand for eye care professionals and clinics in the region.

Trends in the market: One of the key trends in the Eye Care market in Western Africa is the increasing availability and affordability of eye care products. With advancements in technology and manufacturing processes, eye care products such as glasses and contact lenses have become more accessible to a wider range of customers. This has resulted in a greater number of people being able to afford and access vision correction solutions. Another trend in the market is the rise of online retail for eye care products. Online platforms have made it easier for customers to browse and purchase a wide range of eye care products from the comfort of their own homes. This has provided customers with more options and convenience when it comes to purchasing eye care products.

Local special circumstances: One of the key special circumstances in the Eye Care market in Western Africa is the high prevalence of certain eye conditions. Conditions such as cataracts and glaucoma are more common in this region compared to other parts of the world. This has resulted in a greater need for specialized eye care services and treatments in Western Africa. Additionally, there are certain cultural factors that influence the Eye Care market in Western Africa. In some communities, wearing glasses or using vision correction solutions is seen as a sign of weakness or aging. This cultural perception can sometimes deter individuals from seeking the necessary eye care and treatment, resulting in a delay in addressing vision problems.

Underlying macroeconomic factors: The growing Eye Care market in Western Africa can be attributed to several underlying macroeconomic factors. Firstly, the region has been experiencing economic growth in recent years, resulting in an increase in disposable income. This has allowed more individuals to afford eye care products and services. Secondly, there has been an improvement in healthcare infrastructure and services in Western Africa. The availability of eye care professionals and clinics has increased, making it easier for individuals to access the necessary eye care and treatment. Lastly, there has been a greater focus on public health initiatives and awareness campaigns in Western Africa. These initiatives aim to educate the population about the importance of eye care and encourage individuals to seek regular eye examinations. This increased awareness has contributed to the growth of the Eye Care market in Western Africa.

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.