Market Insights Health OTC Pharmaceuticals

Eye Care - Israel

Israel

In Israel, the revenue generated in the Eye Care market market is projected to reach US$18.81m by 2024.
The market is expected to experience an annual growth rate of 2.54% (CAGR 2024-2029).
When compared globally, the in the United States leads in terms of revenue, generating US$1,256.00m in 2024.
In relation to the total population, each person in Israel is expected to contribute US$2.02 in revenue in 2024.
The demand for over-the-counter eye care products is growing in Israel due to the country's aging population.

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

Market

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Analyst Opinion

The Eye Care market in Israel is experiencing significant growth and development.

Customer preferences: Customers in Israel are increasingly prioritizing their eye health and are willing to invest in high-quality eye care products and services. They are becoming more aware of the importance of regular eye check-ups and are seeking out advanced technologies and treatments for their eye conditions. Additionally, there is a growing demand for fashionable eyewear, with customers looking for stylish frames that also provide comfort and durability.

Trends in the market: One of the key trends in the Eye Care market in Israel is the increasing adoption of digital eye care solutions. With the rise of digital devices and prolonged screen time, there is a higher prevalence of eye strain and other related issues. As a result, there is a growing demand for products and services that address these concerns, such as blue light blocking glasses and eye exercises. Furthermore, telemedicine and online eye care consultations are gaining popularity, providing convenience and accessibility to customers.Another trend in the market is the focus on preventive eye care. Customers are becoming more proactive in maintaining their eye health and are seeking preventive measures to avoid potential eye problems. This includes regular eye examinations, early detection of eye diseases, and the use of specialized eye care products. The market is responding to this trend by offering a wide range of preventive eye care solutions, including advanced diagnostic tools and personalized treatment plans.

Local special circumstances: Israel has a high prevalence of certain eye conditions, such as myopia and dry eye syndrome. This has led to a greater demand for products and services that specifically target these conditions. Eye care providers in Israel are developing innovative solutions to address these local needs, such as specialized contact lenses for myopia control and advanced dry eye treatments.

Underlying macroeconomic factors: The Eye Care market in Israel is benefiting from favorable macroeconomic factors. The country has a strong healthcare system and a high level of healthcare expenditure, which supports the development and accessibility of eye care services. Additionally, Israel has a well-established technology sector, which contributes to the advancement of eye care technologies and treatments. The government also plays a role in promoting eye health through public awareness campaigns and subsidies for certain eye care products and services.In conclusion, the Eye Care market in Israel is witnessing growth and development driven by customer preferences for high-quality eye care, trends such as digital eye care solutions and preventive measures, local special circumstances related to prevalent eye conditions, and favorable macroeconomic factors. This presents opportunities for both domestic and international players in the market to cater to the evolving needs of customers and contribute to the overall improvement of eye health in Israel.

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.