Market Insights Health OTC Pharmaceuticals

Eye Care - Bhutan

Bhutan

The Eye Care market market in Bhutan is projected to generate a revenue of US$252.00k in 2024.
With an annual growth rate of 2.82% (CAGR 2024-2029), the market is expected to expand steadily.
In a global context, the in the United States leads the pack with a staggering revenue of US$1,256.00m in 2024.
When considering the population figures, in Bhutan generates per person revenues of US$0.32 in 2024.
This indicates the market's potential and its significance within the country.
Bhutan's eye care market is experiencing a surge in demand for natural and traditional remedies to combat common vision problems.

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

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Analyst Opinion

The Eye Care market in Bhutan has been experiencing steady growth in recent years, driven by changing customer preferences, emerging market trends, and local special circumstances. Customer preferences in the Eye Care market have shifted towards a greater emphasis on preventive measures and early detection of eye conditions. This is due to increasing awareness about the importance of eye health and the availability of advanced diagnostic tools. Customers are now more inclined to undergo regular eye check-ups and seek professional advice to maintain good vision. Additionally, there is a growing demand for eyewear products that combine both fashion and functionality, reflecting the changing consumer lifestyle and preferences.Trends in the market indicate a rising demand for specialized eye care services and products. With the aging population and increasing prevalence of eye diseases, there is a need for more advanced treatment options and specialized care. This has led to the establishment of specialized eye care centers and clinics, offering a wide range of services including cataract surgery, refractive surgery, and treatment for retinal diseases. Moreover, the market has witnessed a surge in the popularity of contact lenses and designer eyewear, driven by the desire for personalized and fashionable eye care solutions.Local special circumstances in Bhutan have also contributed to the development of the Eye Care market. The country's unique geography and climate, characterized by high altitudes and harsh weather conditions, pose specific challenges to eye health. These conditions increase the risk of eye-related problems such as dryness, irritation, and sun damage. As a result, there is a growing demand for specialized eye care products that address these specific needs, such as moisturizing eye drops and UV-protective eyewear.Underlying macroeconomic factors have played a significant role in the growth of the Eye Care market in Bhutan. The country's stable economic growth and increasing disposable income have enabled more people to afford quality eye care services and products. Additionally, the government's focus on healthcare infrastructure development and the implementation of policies promoting eye health have created a favorable environment for market growth. Furthermore, the rise of medical tourism in Bhutan has attracted international eye care providers, leading to increased competition and the introduction of advanced technologies and treatments.In conclusion, the Eye Care market in Bhutan is developing due to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. The emphasis on preventive care, specialized services, and fashionable eyewear, coupled with the unique challenges posed by Bhutan's geography and climate, has created a growing market for eye care products and services. With the continued focus on healthcare infrastructure development and the increasing demand for quality eye care, the market is expected to further expand 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.