Market Insights Health OTC Pharmaceuticals

Eye Care - Algeria

Algeria

In Algeria, the revenue in the Eye Care market market is recorded at US$0.78m in 2024.
It is projected that the market will experience an annual growth rate of 2.44% (CAGR 2024-2029).
When compared to other countries around Worldwide, the in the United States generates the highest revenue in this market, reaching US$1,256.00m in 2024.
In terms of per person revenues, the figure stands at US$0.02 in 2024.
In Algeria, there is a growing demand for over-the-counter eye care products due to the increasing prevalence of eye-related conditions and limited access to healthcare services.

Key regions: Europe, Australia, Brazil, China, United States

Market

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Analyst Opinion

The Eye Care market in Algeria is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Eye Care market in Algeria are shifting towards a greater emphasis on preventive care and overall eye health. Customers are becoming more aware of the importance of regular eye exams and are seeking out products and services that help maintain good eye health. This is driving the demand for a wide range of eye care products, including contact lenses, glasses, and eye drops. Additionally, there is a growing interest in natural and organic eye care products, as customers are increasingly concerned about the potential side effects of synthetic ingredients. Trends in the Eye Care market in Algeria include the rise of online retail and e-commerce platforms. Customers are now able to conveniently purchase eye care products online, which has led to increased competition among retailers. Online platforms also provide customers with a wider selection of products and the ability to compare prices, leading to greater price transparency in the market. Furthermore, there is a growing trend towards personalized eye care solutions, with customers seeking products and services tailored to their specific needs and preferences. This has led to the development of innovative technologies and advanced diagnostic tools in the eye care industry. Local special circumstances in Algeria, such as a growing middle class and increasing urbanization, are contributing to the development of the Eye Care market. As more people move to urban areas, there is a greater demand for eye care services and products. Additionally, the rising middle class has more disposable income to spend on eye care, leading to increased sales and revenue for market players. Furthermore, the government of Algeria has implemented policies and initiatives to promote eye health and improve access to eye care services, which has further stimulated market growth. Underlying macroeconomic factors, such as a stable economy and favorable demographic trends, are also driving the development of the Eye Care market in Algeria. The country's stable economy has created a conducive business environment for market players to invest and expand their operations. Additionally, favorable demographic trends, such as an aging population and a growing number of individuals with vision problems, are increasing the demand for eye care products and services. These factors, combined with the government's commitment to improving eye health, are expected to continue driving the growth of the Eye Care market in Algeria in the coming years.

Methodology

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.