Market Insights Health OTC Pharmaceuticals

Eye Care - Iraq

Iraq

In Iraq, the revenue in the Eye Care market market is projected to reach US$17.56m in 2024.
It is anticipated that the market will experience an annual growth rate of 2.55% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue, amounting to US$1,256.00m in 2024.
In terms of per capita figures, in Iraq generates US$0.38 in revenue per person in 2024.
The demand for OTC eye care products is increasing in Iraq due to a growing awareness of the importance of eye health.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Eye Care market in Iraq is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.Customer preferences in the Eye Care market in Iraq have shifted towards a greater emphasis on preventive care and overall eye health. Consumers are becoming more aware of the importance of regular eye examinations and are seeking out products and services that can help maintain good eye health. This shift in preferences is driven by a growing understanding of the impact that eye health can have on overall well-being.Trends in the market reflect this changing customer preference towards preventive care. The demand for eyeglasses, contact lenses, and other vision correction products is increasing as more people seek to improve their vision and address common eye conditions. Additionally, there is a growing interest in specialized eye care services such as laser eye surgery and cosmetic procedures.Local special circumstances in Iraq also contribute to the development of the Eye Care market. The country has a large population with a high prevalence of eye conditions such as cataracts, glaucoma, and refractive errors. This creates a significant demand for eye care products and services, driving market growth. Furthermore, the presence of a well-established healthcare infrastructure and a growing middle class with disposable income further supports the expansion of the Eye Care market.Underlying macroeconomic factors play a crucial role in the development of the Eye Care market in Iraq. The country has experienced steady economic growth in recent years, resulting in an increase in disposable income and consumer spending power. This allows individuals to allocate a larger portion of their income towards healthcare, including eye care. Additionally, advancements in technology and medical research have made eye care more accessible and affordable, further driving market growth.Overall, the Eye Care market in Iraq is developing rapidly due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As consumers become more aware of the importance of eye health and have the means to invest in preventive care, the demand for eye care products and services is expected to continue growing 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.