Market Insights Health OTC Pharmaceuticals

Eye Care - EU-27

EU-27

In the EU-27, the Eye Care market market generates a revenue of US$0.97bn in 2024.
It is projected to experience an annual growth rate of 2.36% (CAGR 2024-2029).
When compared to other countries worldwide, the in the United States generates the highest revenue in the Eye Care market market, amounting to US$1,256.00m in 2024.
In terms of per person revenues, the EU-27 generates US$2.17 in 2024.
In the EU-27, the eye care market is experiencing a surge in demand for natural and organic products.

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

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Analyst Opinion

The Eye Care market in EU-27 is witnessing significant growth and development due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Customers in the EU-27 region are increasingly prioritizing eye health and seeking out products and services that can help them maintain good vision. This shift in preferences is driven by a growing awareness of the importance of eye care in maintaining overall health and well-being. As a result, there is a rising demand for products such as contact lenses, eyeglasses, and eye drops, as well as services like regular eye exams and vision correction surgeries.

Trends in the market: One of the key trends in the Eye Care market in EU-27 is the increasing adoption of digital devices and screens in everyday life. This trend has led to a higher prevalence of eye strain and other vision-related issues, driving the demand for products and services that can alleviate these problems. Additionally, the aging population in the region is fueling the demand for vision correction solutions, such as multifocal lenses and cataract surgeries. Furthermore, there is a growing interest in natural and organic eye care products, as consumers become more conscious of the ingredients used in their personal care products.

Local special circumstances: The Eye Care market in EU-27 is influenced by various local special circumstances. For instance, each country has its own healthcare system and regulations, which can impact the accessibility and affordability of eye care products and services. Additionally, cultural factors and lifestyle choices can also play a role in shaping the market. For example, countries with a high prevalence of outdoor activities may see a higher demand for sunglasses and other UV protection products.

Underlying macroeconomic factors: The development of the Eye Care market in EU-27 is also influenced by underlying macroeconomic factors. Economic growth and rising disposable incomes contribute to increased consumer spending on eye care products and services. Moreover, advancements in technology and innovation drive the development of new and improved eye care solutions, attracting both customers and investments in the market. Furthermore, government initiatives and policies aimed at promoting eye health and improving access to affordable eye care also play a role in shaping the market dynamics.In conclusion, the Eye Care market in EU-27 is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As customers prioritize eye health and seek out products and services to maintain good vision, the market is witnessing a rise in demand for a wide range of eye care solutions.

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.