Market Insights Health OTC Pharmaceuticals

Eye Care - Moldova

Moldova

In 2024, the revenue in the Eye Care market market in Moldova amounts to US$2.44m.
This market is anticipated to experience an annual growth rate of 3.80% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue with US$1,256.00m in 2024.
Taking into account the total population figures, per person revenues of US$0.73 are generated in Moldova in 2024.
Moldova's eye care market is experiencing a surge in demand for over-the-counter pharmaceuticals due to increasing awareness and affordability.

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

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Analyst Opinion

The Eye Care market in Moldova has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Customers in Moldova have been increasingly prioritizing their eye health, leading to a growing demand for eye care products and services. This can be attributed to several factors, including a greater awareness of the importance of regular eye examinations and the increasing prevalence of vision problems due to factors such as aging and increased screen time. As a result, there has been a rising demand for eyeglasses, contact lenses, and other vision correction products.

Trends in the market: One of the key trends in the Eye Care market in Moldova is the growing popularity of online retail channels for purchasing eye care products. This trend is driven by the convenience and accessibility of online shopping, as well as the increasing adoption of e-commerce platforms. Online retailers are able to offer a wide range of products at competitive prices, making it easier for customers to find the eye care products they need.Another trend in the market is the growing demand for premium and specialized eye care products. Customers are willing to spend more on high-quality products that offer additional benefits, such as UV protection, blue light filtering, and anti-glare coatings. This trend is driven by a desire for enhanced eye protection and comfort, as well as a growing focus on fashion and personal style.

Local special circumstances: Moldova has a relatively high prevalence of vision problems, which has contributed to the growth of the Eye Care market. Factors such as aging population, increased exposure to digital screens, and environmental factors like pollution can all contribute to vision problems. As a result, there is a greater need for eye care products and services in the country.

Underlying macroeconomic factors: The growth of the Eye Care market in Moldova is also influenced by underlying macroeconomic factors. As the economy continues to develop and incomes rise, consumers have more disposable income to spend on eye care products and services. This has led to an increase in demand for higher-quality products and a willingness to pay a premium for specialized eye care solutions.In conclusion, the Eye Care market in Moldova is experiencing growth due to changing customer preferences, such as increased awareness of eye health and a desire for high-quality products. The market is also influenced by local special circumstances, including a relatively high prevalence of vision problems. Additionally, underlying macroeconomic factors, such as rising incomes, are driving the growth of the market.

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.