Market Insights Health OTC Pharmaceuticals

Eye Care - Ethiopia

Ethiopia

In Ethiopia, the revenue generated in the Eye Care market market in 2024 amounts to US$3.11m.
It is projected that the market will experience an annual growth rate of 5.84% from 2024 to 2029 (CAGR 2024-2029).
When compared to other countries worldwide, the in the United States generates the highest revenue in this market, with an estimated revenue of US$1,256.00m in 2024.
Taking into account the total population figures, the per person revenue in Ethiopia is approximately US$0.02 in 2024.
In Ethiopia, there is a growing demand for affordable and accessible eye care products in the OTC Pharmaceuticals market.

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

Market

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Currency

Analyst Opinion

The Eye Care market in Ethiopia is experiencing significant growth and development due to various factors.

Customer preferences: Customers in Ethiopia are increasingly prioritizing their eye health and seeking professional eye care services. This is driven by a growing awareness of the importance of regular eye examinations and the impact of eye conditions on overall health. In addition, there is a rising demand for quality eyewear products, including prescription glasses and contact lenses, as people strive to improve their vision and enhance their appearance.

Trends in the market: One of the key trends in the Eye Care market in Ethiopia is the increasing availability and accessibility of eye care services. Eye care clinics and optometry practices are expanding their presence in urban areas, making it easier for people to access professional eye examinations and treatments. This trend is driven by the growing number of optometrists and ophthalmologists in the country, as well as the government's efforts to improve healthcare infrastructure.Another trend is the growing popularity of online eyewear retailers. With the increasing penetration of the internet and smartphone usage, more people in Ethiopia are opting to purchase eyewear products online. This trend is fueled by the convenience of online shopping, the wider selection of products available, and competitive pricing. Online retailers are also offering virtual try-on tools and home delivery services, further enhancing the customer experience.

Local special circumstances: Ethiopia has a large population, with a significant portion living in rural areas. This presents a unique challenge in providing eye care services to the entire population. While there has been progress in expanding eye care facilities in urban areas, there is still a need for increased access to eye care services in rural communities. Efforts are being made to address this issue through mobile eye clinics and outreach programs, which bring eye care services to underserved areas.

Underlying macroeconomic factors: Ethiopia is experiencing economic growth, which is contributing to the development of the Eye Care market. As disposable incomes increase, more people are able to afford eye care services and eyewear products. This is driving the demand for professional eye examinations, prescription glasses, and contact lenses. Additionally, the government's focus on improving healthcare infrastructure and expanding access to healthcare services is creating opportunities for the Eye Care market to grow and thrive.In conclusion, the Eye Care market in Ethiopia is witnessing growth and development due to increasing customer preferences for professional eye care services and quality eyewear products. The market is characterized by the availability and accessibility of eye care services, the popularity of online eyewear retailers, and efforts to address the unique challenges of providing eye care in rural areas. The underlying macroeconomic factors, such as economic growth and government initiatives, are also driving 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.