Eye Care - Western Asia

Western Asia

Highlights

Revenue in the Eye Care market amounts to US$90.31m in 2024. The market is expected to grow annually by 2.39% (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$0.41 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in Western Asia is experiencing significant growth and development due to several key factors. Customer preferences in the region are shifting towards a greater focus on eye health and the demand for eye care products and services is increasing.

Additionally, local special circumstances and underlying macroeconomic factors are contributing to the expansion of the market. Customer preferences in Western Asia are playing a major role in the development of the Eye Care market. As awareness about the importance of eye health grows, consumers are becoming more proactive in seeking preventive measures and treatments for various eye conditions.

This has led to a rise in the demand for eyeglasses, contact lenses, and other vision correction products. Additionally, the aging population in the region is driving the need for specialized eye care services, such as cataract surgeries and treatments for age-related macular degeneration. Trends in the Eye Care market in Western Asia are also influenced by global and regional market dynamics.

Technological advancements in the field of ophthalmology have led to the development of innovative eye care products and procedures. For example, the introduction of laser eye surgery has revolutionized the way refractive errors are corrected, offering a more convenient and effective alternative to traditional methods. Furthermore, the increasing prevalence of digital devices and prolonged screen time has resulted in a higher incidence of eye strain and dry eyes, leading to a growing demand for products that alleviate these symptoms.

Local special circumstances in Western Asia further contribute to the growth of the Eye Care market. The region is home to a large population with diverse eye care needs, ranging from common refractive errors to more complex eye conditions. This has created opportunities for both local and international eye care providers to expand their operations and offer a wide range of products and services.

Additionally, the presence of a well-established healthcare infrastructure and a growing medical tourism industry in certain countries of Western Asia has attracted patients from neighboring regions, further driving the demand for eye care services. Underlying macroeconomic factors also play a role in the development of the Eye Care market in Western Asia. The region has witnessed steady economic growth in recent years, resulting in an increase in disposable income and improved standards of living.

As a result, consumers are more willing to invest in their health, including their eye health. Furthermore, government initiatives and policies aimed at improving access to healthcare and promoting preventive care have also contributed to the growth of the market. In conclusion, the Eye Care market in Western Asia is experiencing significant growth and development due to changing customer preferences, global and regional market trends, local special circumstances, and underlying macroeconomic factors.

As awareness about the importance of eye health continues to rise and technological advancements in the field of ophthalmology expand, the market is expected to further expand and offer a wider range of products and services to meet the growing demand.

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.