Eye Care - Argentina

Argentina

Highlights

In Argentina, the revenue in the Eye Care market market is projected to reach US$16.16m in 2024.
This market is expected to experience an annual growth rate of 3.17% (CAGR 2024-2029).
When compared globally, the United States generates the highest revenue, amounting to US$1.26bn in 2024.
In terms of per person revenues, in Argentina generates US$0.35 in 2024.
Argentina's eye care market is experiencing a surge in demand for OTC pharmaceuticals as consumers prioritize self-care and convenience.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care market in Argentina is experiencing steady growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Argentina are shifting towards a greater emphasis on eye health and wellness. With an aging population and increasing awareness about the importance of regular eye examinations, consumers are seeking out products and services that promote good eye health. This includes a growing demand for prescription eyewear, contact lenses, and eye care supplements. Additionally, there is a rising interest in fashionable and trendy eyewear, as consumers view glasses as a fashion accessory.Trends in the market further contribute to the development of the Eye Care market in Argentina. One notable trend is the increasing adoption of digital devices, such as smartphones and tablets. As individuals spend more time on these devices, there is a higher risk of eye strain and other vision-related issues. This has led to a greater demand for products that address these concerns, such as blue light blocking glasses and eye drops for dry eyes. Another trend is the growing popularity of online shopping for eyewear. Consumers are increasingly comfortable buying glasses and contact lenses online, attracted by the convenience, wider product selection, and competitive pricing.Local special circumstances also play a role in the development of the Eye Care market in Argentina. The country has a well-established healthcare system, with a network of optometrists and ophthalmologists providing comprehensive eye care services. This accessibility to professional eye care services contributes to the overall growth of the market. Additionally, Argentina has a strong fashion industry and is known for its sense of style. This has translated into a demand for fashionable eyewear, with consumers seeking out unique and trendy designs.Underlying macroeconomic factors further support the growth of the Eye Care market in Argentina. The country has a stable economy and a growing middle class, which has increased disposable income and purchasing power. As a result, consumers are more willing to spend on eye care products and services. Furthermore, the government has implemented policies to promote healthcare and wellness, including initiatives to raise awareness about the importance of regular eye examinations. These factors contribute to a positive market outlook for the Eye Care industry in Argentina.In conclusion, the Eye Care market in Argentina is developing due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. With a focus on eye health and wellness, increasing adoption of digital devices, accessibility to professional eye care services, and favorable economic conditions, the market is poised for continued growth in the coming years.

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.