Eye Care - NAFTA | Statista Market Forecast

Eye Care - NAFTA

NAFTA

Highlights

In the NAFTA region, the Eye Care market market generated a revenue of US$1.48bn in 2024.
It is projected to grow annually by 2.07% (CAGR 2024-2029).
When compared globally, the United States stands out as the top revenue generator, with US$1.26bn in 2024.
Taking into account the total population figures, the per person revenue in the Eye Care market market is estimated to be US$2.90 in 2024.
In the NAFTA region, the eye care market is experiencing a surge in demand for over-the-counter pharmaceutical products.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care market in NAFTA is experiencing significant growth and development. Customer preferences for eye care products and services are evolving, driving the market to expand and innovate. Additionally, there are local special circumstances and underlying macroeconomic factors that contribute to the growth of the Eye Care market in NAFTA.Customer preferences in the Eye Care market are shifting towards a greater emphasis on preventive and corrective measures. As individuals become more aware of the importance of eye health, they are seeking out products and services that can help maintain or improve their vision. This includes a growing demand for eyeglasses, contact lenses, and eye care supplements. Additionally, there is an increasing interest in cosmetic eye care, such as colored contact lenses or eyelash serums. Customers are also looking for convenience and affordability, leading to a rise in online sales of eye care products.Trends in the Eye Care market in NAFTA include technological advancements and the rise of e-commerce. The development of innovative eye care products, such as smart contact lenses or digital eye exams, is driving market growth. These advancements not only improve the effectiveness of eye care, but also cater to the preferences of tech-savvy customers. Furthermore, the increasing popularity of e-commerce platforms allows customers to easily access a wide range of eye care products and compare prices, contributing to market expansion.Local special circumstances in the Eye Care market in NAFTA include the aging population and the prevalence of digital devices. As the population ages, there is a greater need for vision correction and eye health maintenance. This creates a larger customer base for eye care products and services. Additionally, the widespread use of digital devices, such as smartphones and computers, has led to an increase in eye strain and related vision problems. This has further fueled the demand for eye care solutions, such as blue light-blocking glasses or dry eye treatments.Underlying macroeconomic factors also play a role in the growth of the Eye Care market in NAFTA. Economic stability and rising disposable incomes enable individuals to allocate more resources towards eye care. As a result, customers are willing to spend more on high-quality products and services. Furthermore, healthcare policies and regulations in NAFTA countries support the accessibility and affordability of eye care. This encourages individuals to seek out regular eye exams and invest in preventive measures.In conclusion, the Eye Care market in NAFTA is experiencing growth and development due to evolving customer preferences, technological advancements, local special circumstances, and underlying macroeconomic factors. As individuals prioritize eye health and seek out convenient and effective solutions, the market continues to expand and innovate.

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.