Eye Care - Worldwide

Worldwide

Highlights

Revenue in the Eye Care market amounts to US$5.46bn in 2024. The market is expected to grow annually by 2.85% (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$0.70 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Eye Care market in Worldwide is experiencing significant growth due to increasing customer preferences for eye health and vision correction, as well as the local special circumstances and underlying macroeconomic factors that are driving this trend.

Customer preferences: Customers in Worldwide are increasingly prioritizing their eye health and seeking vision correction solutions. With the rise in digital devices and screen time, there is a growing awareness of the importance of regular eye exams and proper eye care. This has led to an increased demand for eyeglasses, contact lenses, and other vision correction products. Additionally, customers are also looking for innovative and convenient solutions such as daily disposable contact lenses and blue light-blocking glasses.

Trends in the market: One of the key trends in the Eye Care market in Worldwide is the growing popularity of online and e-commerce channels for purchasing eye care products. Customers are increasingly turning to online platforms to buy eyeglasses, contact lenses, and other vision correction products. This trend is driven by the convenience of online shopping, wider product selection, and competitive pricing. Online retailers are also leveraging technologies such as virtual try-on tools and telemedicine consultations to enhance the customer experience. Another trend in the market is the increasing demand for premium and specialized eye care products. Customers are willing to invest in high-quality eyewear and advanced contact lenses that offer superior comfort, durability, and vision correction. This trend is driven by the desire for better visual performance and style. Additionally, there is a growing demand for specialized eye care products such as sports eyewear, computer glasses, and multifocal contact lenses to cater to specific customer needs.

Local special circumstances: In Worldwide, the Eye Care market is influenced by various local special circumstances. For example, the aging population in many countries is driving the demand for vision correction products such as reading glasses and progressive lenses. Additionally, the prevalence of myopia (nearsightedness) in certain regions is leading to a higher demand for corrective eyewear among younger populations. Furthermore, the cultural significance of eyeglasses as a fashion accessory in some countries is fueling the demand for trendy and stylish frames.

Underlying macroeconomic factors: Several underlying macroeconomic factors are contributing to the growth of the Eye Care market in Worldwide. The increasing disposable income levels in many countries are enabling customers to afford higher-quality eye care products and services. Additionally, the expanding middle class in emerging economies is driving the demand for vision correction solutions. Moreover, advancements in technology and manufacturing processes have made eye care products more accessible and affordable, further boosting market growth. In conclusion, the Eye Care market in Worldwide is witnessing significant growth driven by increasing customer preferences for eye health and vision correction. The market is characterized by trends such as the rise of online channels and the demand for premium and specialized eye care products. Local special circumstances such as the aging population and the prevalence of myopia also contribute to market growth. Furthermore, underlying macroeconomic factors such as rising disposable income levels and technological advancements play a significant role in shaping the market.

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.