Market Insights Health OTC Pharmaceuticals

Eye Care - Estonia

Estonia

In Estonia, the revenue in the Eye Care market market is projected to reach US$2.14m by 2024.
It is expected to grow at an annual rate of 2.06% (CAGR 2024-2029).
When compared to other countries worldwide, the in the United States leads with a revenue of US$1,256.00m in 2024.
In terms of per person revenues, in Estonia generates US$1.62 in 2024.
In Estonia, the Eye Care market is experiencing a surge in demand for OTC pharmaceuticals 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 Estonia has experienced significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in the Eye Care market in Estonia have shifted towards a greater emphasis on preventive care and overall eye health. Customers are becoming more aware of the importance of regular eye examinations and are seeking out products and services that can help them maintain good eye health. This has led to an increased demand for products such as contact lenses, eye drops, and vitamins specifically targeted towards eye health.One of the key trends in the Eye Care market in Estonia is the growing popularity of online retail channels. Customers are increasingly turning to online platforms to purchase eye care products, as it offers convenience and a wider range of options. Online retailers are capitalizing on this trend by offering competitive prices, fast delivery, and personalized recommendations based on customer preferences. This shift towards online retail has also led to increased competition among market players, as they strive to differentiate themselves and attract customers through innovative marketing strategies and product offerings.Another trend in the Eye Care market in Estonia is the rising demand for premium and specialized eye care products. Customers are willing to spend more on high-quality products that offer additional benefits, such as UV protection, blue light filtering, and enhanced comfort. This trend is driven by increasing awareness of the potential harmful effects of prolonged screen time and exposure to environmental factors on eye health. Market players are responding to this demand by introducing innovative products and technologies that address these concerns.Local special circumstances in Estonia, such as a high prevalence of myopia among the population, have also contributed to the growth of the Eye Care market. Myopia is a common vision problem that requires regular eye care and correction. As a result, there is a steady demand for products such as prescription glasses and contact lenses. Market players are capitalizing on this demand by offering a wide range of options to cater to different customer needs and preferences.Underlying macroeconomic factors, such as a growing economy and increasing disposable income, have also played a role in the development of the Eye Care market in Estonia. As the economy continues to grow, customers have more purchasing power to invest in their eye health. This has led to increased spending on eye care products and services, further driving the growth of the market.Overall, the Eye Care market in Estonia is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances. Market players are adapting to these developments by offering innovative products and services, expanding their online presence, and catering to the specific needs of the local population. With the continued focus on preventive care and overall eye health, the market is expected to continue its growth trajectory 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.