Market Insights Health OTC Pharmaceuticals

Eye Care - Egypt

Egypt

In Egypt, the revenue in the Eye Care market market is projected to reach US$41.48m by 2024.
It is anticipated that the market will experience an annual growth rate of 6.64% (CAGR 2024-2029).
When compared to other countries worldwide, the in the United States leads in revenue generation with US$1,256.00m in 2024.
Considering the population size, per person revenues amount to US$0.36 in 2024.
Eye care products in Egypt are experiencing a surge in demand due to the country's aging population and increasing awareness about the importance of maintaining good eye health.

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

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Analyst Opinion

The Eye Care market in Egypt is experiencing significant growth and development.

Customer preferences: Egyptians are becoming more conscious about their eye health and are seeking out eye care products and services. There is a growing demand for eyeglasses, contact lenses, and other vision correction solutions. Additionally, there is an increasing interest in cosmetic eye care, such as colored contact lenses and eyelash extensions.

Trends in the market: One of the key trends in the Eye Care market in Egypt is the increasing popularity of online retail. Egyptians are increasingly turning to online platforms to purchase eye care products, as it offers convenience and a wide range of options. Online retailers are also leveraging social media platforms to reach and engage with customers, further driving the growth of the market. Another trend in the market is the rise of specialized eye care clinics and centers. These facilities offer a comprehensive range of services, including eye exams, vision correction procedures, and treatment for eye diseases. This trend is driven by the growing awareness of the importance of regular eye check-ups and the availability of advanced technology for diagnosing and treating eye conditions.

Local special circumstances: One of the factors contributing to the growth of the Eye Care market in Egypt is the country's large population. With over 100 million people, there is a significant market potential for eye care products and services. Additionally, Egypt has a relatively young population, and as people age, the need for vision correction and eye care increases. This demographic factor further fuels the growth of the market.

Underlying macroeconomic factors: The growing middle class in Egypt is also driving the growth of the Eye Care market. As disposable incomes increase, more people are able to afford eye care products and services. Additionally, the government has been implementing initiatives to improve access to healthcare, including eye care, which further supports the growth of the market. In conclusion, the Eye Care market in Egypt is experiencing growth and development due to increasing customer preferences for eye care products and services, such as eyeglasses and contact lenses. The market is also influenced by trends such as the rise of online retail and specialized eye care clinics. Local special circumstances, such as the large population and young demographic, contribute to the growth of the market. Furthermore, underlying macroeconomic factors, such as the growing middle class and government initiatives, support the expansion of the Eye Care market in Egypt.

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.