Eye Care - Lebanon

Lebanon

Highlights

In Lebanon, the revenue generated in the Eye Care market market in 2024 amounts to US$2.82m.
It is projected to experience an annual growth rate of 1.22% (CAGR 2024-2029).
When compared globally, the United States generates the highest revenue in this market, with US$1.26bn in 2024.
In terms of per capita revenue, each person in Lebanon generates US$0.54 in 2024.
Lebanon's Eye Care OTC pharmaceutical market is witnessing a surge in demand for innovative and natural products to address common eye conditions.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care market in Lebanon has been experiencing steady growth in recent years, driven by increasing customer preferences for quality eye care services and products.

Customer preferences: Lebanese consumers are becoming more conscious about their eye health and are seeking professional eye care services. They value the expertise and knowledge of eye care professionals, and are willing to invest in high-quality eyewear and contact lenses. Additionally, there is a growing demand for specialized eye care treatments, such as laser eye surgery and cosmetic eye procedures.

Trends in the market: One of the key trends in the Eye Care market in Lebanon is the rising popularity of online eyewear retailers. Consumers are increasingly turning to online platforms to purchase eyeglasses and contact lenses due to the convenience and competitive pricing offered by these retailers. This trend is also driven by the wide variety of eyewear options available online, allowing consumers to choose from a larger selection of styles and brands.Another trend in the market is the increasing adoption of advanced eye care technologies and treatments. Lebanese consumers are embracing innovative solutions such as laser eye surgery, which offers improved vision without the need for glasses or contact lenses. This trend is fueled by the growing awareness of the benefits and safety of these procedures, as well as the availability of skilled eye care professionals in the country.

Local special circumstances: Lebanon is known for its vibrant fashion and beauty industry, and this extends to the Eye Care market as well. Lebanese consumers place a high value on stylish eyewear and are willing to invest in designer brands. This preference for fashionable eyewear creates opportunities for both local and international eyewear brands to cater to the fashion-conscious Lebanese market.

Underlying macroeconomic factors: Lebanon has a relatively high per capita income compared to other countries in the region, which contributes to the growth of the Eye Care market. The country's stable economy and favorable business environment attract investments from international eyewear brands, leading to increased competition and product offerings in the market. Additionally, the government's focus on healthcare and wellness initiatives further supports the growth of the Eye Care market in Lebanon.

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.