Eye Care - Africa | Statista Market Forecast

Eye Care - Africa

Africa

Highlights

In Africa, the revenue generated in the Eye Care market market in 2024 amounts to US$113.90m.
This market is expected to experience an annual growth rate of 4.60% (CAGR 2024-2029).
In comparison to other countries worldwide, the United States leads with revenue of US$1.26bn in 2024.
When considering the total population, the per person revenue in Africa is US$0.09 in 2024.
In Africa's Eye Care OTC Pharmaceuticals market, there is a growing demand for affordable and accessible vision correction products.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care market in Africa has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for this growth is the increasing awareness and importance of eye health among the African population. People are becoming more conscious of the need to take care of their eyes and are seeking out eye care products and services to maintain good vision. Additionally, the rising prevalence of eye conditions such as myopia, cataracts, and glaucoma has also contributed to the growing demand for eye care solutions in Africa.

Trends in the market: One major trend in the African Eye Care market is the increasing adoption of contact lenses. Contact lenses offer convenience and flexibility compared to traditional eyeglasses, making them popular among consumers who lead active lifestyles. The demand for contact lenses is particularly high among the younger population who value aesthetics and want to avoid wearing glasses. As a result, contact lens manufacturers have been expanding their presence in the African market and introducing a wide range of products to cater to different customer needs.Another trend in the market is the growing popularity of online retail channels for purchasing eye care products. With the increasing penetration of smartphones and internet access in Africa, consumers are embracing the convenience of online shopping. Online platforms offer a wide variety of eye care products at competitive prices, making it easier for consumers to find the products they need. This trend has also led to the emergence of local e-commerce players specializing in eye care products, further driving the growth of the market.

Local special circumstances: One of the unique challenges faced by the Eye Care market in Africa is the lack of access to quality eye care services in many regions. The shortage of eye care professionals and facilities makes it difficult for people to receive timely and adequate treatment for their eye conditions. This has created an opportunity for international eye care providers to enter the African market and bridge the gap in healthcare services. These providers are not only offering high-quality eye care services but also investing in training local healthcare professionals to improve the overall eye care infrastructure in the region.

Underlying macroeconomic factors: The economic growth and increasing disposable income in many African countries have also contributed to the development of the Eye Care market. As people's purchasing power increases, they are willing to spend more on their healthcare, including eye care. This has created a favorable market environment for both international and local eye care companies to expand their operations and offer a wider range of products and services.In conclusion, the Eye Care market in Africa is experiencing significant growth due to increasing awareness of eye health, the rising prevalence of eye conditions, and the adoption of new trends such as contact lenses and online retail channels. However, the market also faces challenges related to the lack of access to quality eye care services in certain regions. Overall, the development of the Eye Care market in Africa is driven by customer preferences, local special circumstances, and underlying macroeconomic factors.

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.