Market Insights Health OTC Pharmaceuticals

Eye Care - G20

In 2024, the revenue in the Eye Care market market in G20 amounts to US$4.70bn.
It is projected to experience an annual growth rate of 2.66% from 2024 to 2029 (CAGR 2024-2029).
Among the G20 countries, the in the United States generates the highest revenue, reaching US$1,256.00m in 2024.
When considering the total population, the per person revenue in 2024 is US$0.95.
In the G20 country of Japan, there is a growing trend in the Eye Care market, with a focus on innovative technologies and products.

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

Market

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Analyst Opinion

The Eye Care market in G20 has been experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this positive trajectory.Customer preferences play a crucial role in driving the growth of the Eye Care market in G20. With increasing awareness about the importance of eye health, consumers are becoming more proactive in seeking preventive measures and treatments for various eye conditions. This has led to a rise in demand for products such as contact lenses, eyeglasses, and eye drops.Trends in the market have also contributed to the growth of the Eye Care market in G20. One notable trend is the increasing adoption of digital devices, such as smartphones and tablets, which has led to a rise in cases of digital eye strain. As a result, there is a growing demand for products that alleviate eye strain and promote eye health. Additionally, the aging population in many G20 countries has created a need for specialized eye care products and services tailored to the needs of older individuals.Local special circumstances in different G20 countries have also influenced the development of the Eye Care market. For example, in some countries, there may be a higher prevalence of certain eye conditions due to environmental factors or genetic predisposition. This creates a demand for specific eye care products and treatments. Additionally, cultural factors and fashion trends can also influence the demand for eyewear, with certain styles and brands being more popular in specific regions.Underlying macroeconomic factors have played a significant role in the growth of the Eye Care market in G20. Economic growth and rising disposable incomes have enabled consumers to allocate more of their budget towards eye care products and services. Additionally, advancements in technology and manufacturing processes have made eye care products more affordable and accessible to a larger segment of the population.In conclusion, the Eye Care market in G20 is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As awareness about eye health continues to increase and new technologies and treatments are developed, the market is expected to continue its positive 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.