Eye Care - Morocco

Morocco

Highlights

In Morocco, the revenue in the Eye Care market market is projected to reach US$13.43m in 2024.
It is anticipated that the market will experience an annual growth rate of 3.46% (CAGR 2024-2029).
When compared globally, the United States generates the highest revenue in the Eye Care market market, amounting to US$1.26bn in 2024.
In terms of per capita figures, the revenue generated per person in Morocco is US$0.35 in 2024.
The eye care market in Morocco is experiencing a surge in demand for over-the-counter pharmaceuticals due to increasing awareness of eye health among the population.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care market in Morocco is experiencing significant growth due to several factors.

Customer preferences: Moroccan consumers are becoming increasingly aware of the importance of eye care and are prioritizing their visual health. This is reflected in their preferences for high-quality eye care products and services. Customers are seeking out eyeglasses, contact lenses, and other vision correction solutions that are not only functional but also fashionable. They are also showing a growing interest in preventive eye care measures, such as regular eye exams and screenings.

Trends in the market: One of the key trends in the Eye Care market in Morocco is the increasing demand for contact lenses. Contact lenses offer convenience and flexibility compared to traditional eyeglasses, particularly for those with active lifestyles. As a result, more and more consumers are opting for contact lenses as their preferred vision correction method. This trend is expected to continue as technological advancements in contact lens materials and designs make them more comfortable and accessible to a wider range of consumers.Another trend in the market is the rise of online eyewear retailers. Moroccan consumers are increasingly turning to online platforms to purchase eyeglasses, contact lenses, and other eye care products. This trend can be attributed to the convenience and competitive pricing offered by online retailers. Additionally, online retailers often provide a wider selection of eyewear options, allowing customers to find the perfect fit for their individual style and preferences.

Local special circumstances: Morocco's growing middle class and increasing disposable income are contributing to the growth of the Eye Care market. As more Moroccans have the means to afford eye care products and services, the demand for these offerings continues to rise. Additionally, the country's young population is driving the market, as they are more likely to prioritize eye care and invest in vision correction solutions.

Underlying macroeconomic factors: Morocco's stable economic growth and government initiatives to improve healthcare access are supporting the development of the Eye Care market. The government has been investing in healthcare infrastructure and implementing policies to enhance healthcare services, including eye care. These efforts are aimed at improving the overall health and well-being of the population, and eye care is an integral part of this objective.In conclusion, the Eye Care market in Morocco is growing due to increasing customer preferences for high-quality eye care products and services, the rising demand for contact lenses, the emergence of online eyewear retailers, the country's growing middle class and disposable income, and government initiatives to improve healthcare access. These factors are driving the market and creating opportunities for both local and international eye care providers.

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.