Market Insights Health OTC Pharmaceuticals

Eye Care - Austria

Austria

In Austria, the revenue in the Eye Care market market reaches US$26.44m in 2024.
According to projections, the market is anticipated to experience an annual growth rate of 1.94% (CAGR 2024-2029).
When compared to other countries worldwide, the in the United States generates the highest revenue in this market, amounting to US$1,256.00m in 2024.
Taking into account the total population, per person revenues in Austria reach US$2.95 in 2024.
The demand for over-the-counter eye care products in Austria is rising due to an aging population and increased screen time.

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

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Analyst Opinion

The Eye Care market in Austria is experiencing significant growth and development in recent years.

Customer preferences: Customers in Austria are increasingly valuing their eye health and are willing to invest in products and services that help maintain and improve their vision. This is driven by a growing awareness of the importance of regular eye examinations and the impact of digital devices on eye health. Additionally, there is a strong preference for high-quality and innovative eye care products, such as contact lenses and eyeglasses with advanced lens technologies.

Trends in the market: One of the key trends in the Eye Care market in Austria is the increasing demand for contact lenses. Contact lenses offer convenience and flexibility compared to traditional eyeglasses, and they are becoming more popular among consumers of all ages. This trend is driven by advancements in contact lens technology, including the development of comfortable and breathable lenses that can be worn for extended periods of time.Another trend in the market is the rising popularity of online eyewear retailers. Austrian consumers are increasingly turning to online platforms to purchase eyeglasses and contact lenses. This trend is fueled by the convenience and competitive pricing offered by online retailers, as well as the ability to browse a wide range of products and compare prices from the comfort of their own homes.

Local special circumstances: Austria has a well-developed healthcare system that provides access to high-quality eye care services. The country has a large network of optometrists and ophthalmologists who offer comprehensive eye examinations and specialized treatments. This accessibility to eye care services contributes to the overall growth of the Eye Care market in Austria.

Underlying macroeconomic factors: The strong economy in Austria is also contributing to the growth of the Eye Care market. With a high standard of living and disposable income, consumers have more purchasing power to invest in eye care products and services. Additionally, the aging population in Austria is driving the demand for eye care, as older individuals are more likely to experience vision problems and require corrective measures.In conclusion, the Eye Care market in Austria is experiencing growth and development due to customer preferences for high-quality eye care products, increasing demand for contact lenses, the rising popularity of online eyewear retailers, accessibility to eye care services, and the underlying macroeconomic factors such as a strong economy and aging population.

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.