Market Insights Health OTC Pharmaceuticals

Eye Care - Ireland

Ireland

In Ireland, the revenue generated in the Eye Care market market in 2024 amounts to US$13.61m.
It is projected that this market will experience an annual growth rate of 2.31% (CAGR 2024-2029).
When compared to other countries globally, the in the United States leads in terms of revenue generation, with US$1,256.00m in 2024.
In relation to the total population, per person revenues of US$2.67 are generated in Ireland in 2024.
The Eye Care market in Ireland is witnessing a surge in demand for contact lens solutions due to the increasing popularity of contact lenses among the younger population.

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

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Analyst Opinion

The Eye Care market in Ireland has been experiencing significant growth in recent years. Customer preferences have shifted towards more advanced and specialized eye care products and services. This trend can be attributed to several factors, including increased awareness about eye health, technological advancements in the industry, and changing demographics.

Customer preferences: Customers in Ireland are becoming increasingly conscious about their eye health and are seeking out products and services that cater to their specific needs. There is a growing demand for specialized eye care solutions such as contact lenses, prescription eyewear, and corrective surgeries. This can be attributed to the rising prevalence of vision problems and the aging population in Ireland.

Trends in the market: One of the key trends in the Eye Care market in Ireland is the growing popularity of contact lenses. Many consumers are opting for contact lenses as a more convenient and comfortable alternative to traditional eyeglasses. This trend is driven by advancements in contact lens technology, which have made them more comfortable to wear for extended periods of time. Additionally, the increasing availability of disposable contact lenses has made them more accessible to a wider range of consumers.Another trend in the market is the demand for fashionable and trendy eyewear. Customers are looking for eyeglasses that not only correct their vision but also make a fashion statement. Eyewear brands are responding to this trend by offering a wide range of stylish frames and designs. This trend is particularly prevalent among younger consumers who see eyewear as a fashion accessory.

Local special circumstances: One of the unique aspects of the Eye Care market in Ireland is the strong presence of independent opticians. These independent opticians offer personalized and high-quality eye care services, which appeal to customers who value individual attention and expertise. This has created a competitive landscape in the market, with both independent opticians and larger retail chains vying for customers.

Underlying macroeconomic factors: The growth of the Eye Care market in Ireland can also be attributed to the overall economic development of the country. As the economy continues to grow, consumers have more disposable income to spend on eye care products and services. Additionally, the government has implemented policies to improve access to eye care services, which has further fueled the growth of the market.In conclusion, the Eye Care market in Ireland is experiencing significant growth due to changing customer preferences, including a shift towards specialized eye care solutions and fashionable eyewear. The market is also influenced by local special circumstances, such as the strong presence of independent opticians. Overall, the growth of the market can be attributed to increased awareness about eye health, technological advancements, and the country's economic 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.