Market Insights Health OTC Pharmaceuticals

Eye Care - Burkina Faso

Burkina Faso

In Burkina Faso, the revenue generated in the Eye Care market market in 2024 amounts to US$0.40m.
The market is projected to experience an annual growth rate of 2.83% (CAGR 2024-2029).
When compared globally, 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, US$0.02 is generated in Burkina Faso in 2024.
In Burkina Faso, there is a growing trend towards traditional eye care remedies, such as herbal treatments and homeopathic remedies.

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

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Analyst Opinion

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

Customer preferences: Customers in Burkina Faso have shown a growing interest in eye care products and services. This can be attributed to several factors, including increasing awareness about the importance of eye health, a rise in disposable income, and a growing elderly population. Additionally, the availability of a wide range of eye care products and services in the market has also contributed to the growing demand.

Trends in the market: One of the key trends in the Eye Care market in Burkina Faso is the increasing adoption of contact lenses. Contact lenses offer convenience and are becoming popular among individuals who require vision correction but do not want to wear glasses. This trend is expected to continue as more people become aware of the benefits of contact lenses.Another trend in the market is the growing demand for specialized eye care services. With the increasing prevalence of eye-related conditions such as cataracts and glaucoma, there is a need for specialized treatment and surgeries. This has led to the establishment of specialized eye care clinics and hospitals, offering advanced treatments and surgical procedures.

Local special circumstances: Burkina Faso has a high prevalence of eye-related conditions, including cataracts and refractive errors. This is due to various factors such as inadequate access to healthcare facilities, limited awareness about eye health, and a lack of trained eye care professionals. As a result, there is a significant demand for eye care products and services in the country.

Underlying macroeconomic factors: The growing Eye Care market in Burkina Faso can be attributed to several underlying macroeconomic factors. Firstly, the country has been experiencing steady economic growth in recent years, leading to an increase in disposable income. This has allowed individuals to afford eye care products and services.Secondly, the government of Burkina Faso has been actively promoting healthcare services, including eye care, through various initiatives and programs. This has helped to raise awareness about the importance of eye health and has increased access to eye care services in the country.In conclusion, the Eye Care market in Burkina Faso is experiencing significant growth due to increasing customer preferences for eye care products and services. The adoption of contact lenses and the demand for specialized eye care services are key trends in the market. The high prevalence of eye-related conditions and the government's focus on healthcare are local special circumstances that are driving the market. The underlying macroeconomic factors, such as economic growth and government initiatives, are also contributing to the market's development.

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.