Market Insights Health OTC Pharmaceuticals

Eye Care - North Macedonia

North Macedonia

In North Macedonia, the revenue in the Eye Care market market in 2024 amounts to US$1.78m.
It is projected to grow annually by 1.63% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in the Eye Care market market, with US$1,256.00m in 2024.
In terms of per person revenues, in North Macedonia generates US$0.85 in 2024.
North Macedonia is witnessing a growing demand for over-the-counter eye care products due to increasing awareness about eye health.

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

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Analyst Opinion

The Eye Care market in North Macedonia has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.Customer preferences in the Eye Care market in North Macedonia have shifted towards a greater focus on preventive care and overall eye health. Consumers are becoming more aware of the importance of regular eye examinations and are seeking out products and services that promote eye health and prevent vision problems. This shift in preferences is in line with global trends, as people are increasingly recognizing the importance of taking care of their eyes in order to maintain good vision and overall well-being.One of the key trends in the Eye Care market in North Macedonia is the growing demand for contact lenses. Contact lenses offer a convenient and comfortable alternative to traditional eyeglasses, and they are becoming increasingly popular among consumers who want to correct their vision without the need for frames. This trend is also driven by advancements in technology, which have led to the development of more comfortable and breathable contact lenses.Another trend in the market is the increasing popularity of online retail channels for purchasing eye care products. With the rise of e-commerce, consumers in North Macedonia now have access to a wide range of eye care products, including contact lenses, eyeglasses, and eye drops, through online platforms. This trend is fueled by the convenience and competitive pricing offered by online retailers, as well as the ability to compare products and read customer reviews before making a purchase.In addition to changing customer preferences and emerging trends, there are also local special circumstances that are contributing to the development of the Eye Care market in North Macedonia. The country has a relatively high prevalence of vision problems, including myopia and presbyopia, which has created a strong demand for vision correction products and services. This, combined with a growing middle class and increasing disposable incomes, has created a favorable market environment for eye care providers and manufacturers.Underlying macroeconomic factors, such as a stable economy and government initiatives to improve healthcare infrastructure, are also playing a role in the growth of the Eye Care market in North Macedonia. The country has made significant investments in healthcare in recent years, including the establishment of eye care clinics and the recruitment of skilled healthcare professionals. These investments have improved access to eye care services and increased awareness about the importance of regular eye examinations.Overall, the Eye Care market in North Macedonia is developing in response to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The market is expected to continue growing in the coming years, driven by a greater emphasis on preventive care, advancements in technology, and increasing access to eye care products and services.

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.