Market Insights Health OTC Pharmaceuticals

Eye Care - Portugal

Portugal

In Portugal, the revenue in the Eye Care market market reaches US$19.31m in 2024.
It is projected to experience an annual growth rate of 2.15% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, amounting to US$1,256.00m in 2024.
In terms of per capita figures, each person in Portugal generates revenues of US$1.89 in 2024.
Portugal's eye care market is experiencing a surge in demand for OTC pharmaceuticals due to an aging population and increased awareness of eye health.

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

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Analyst Opinion

The Eye Care market in Portugal is experiencing significant growth and development.

Customer preferences: Customers in Portugal are increasingly prioritizing their eye health and seeking out products and services that can help improve their vision. This is driven by a growing awareness of the importance of regular eye exams and the impact that eye conditions can have on overall health and wellbeing. As a result, there is a growing 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 Portugal is the increasing popularity of contact lenses. Many customers are opting for contact lenses as a convenient and comfortable alternative to traditional eyeglasses. This trend is driven by advancements in contact lens technology, which have made them more comfortable and easier to use. Additionally, the rise of digital devices and increased screen time has led to an increase in eye strain and dryness, making contact lenses a popular choice for those looking for relief.Another trend in the market is the growing demand for fashionable eyewear. Customers in Portugal are increasingly viewing eyeglasses as a fashion statement and are seeking out stylish frames that reflect their personal style. This trend is driven by the availability of a wide range of eyeglass frames in various shapes, colors, and materials. Additionally, the rise of social media and influencer culture has also contributed to the popularity of fashionable eyewear.

Local special circumstances: One of the unique aspects of the Eye Care market in Portugal is the strong presence of independent opticians. These small, locally-owned businesses play a significant role in providing eye care services and products to customers across the country. These independent opticians often have a loyal customer base and are known for providing personalized and high-quality care. This local presence contributes to the overall growth and development of the Eye Care market in Portugal.

Underlying macroeconomic factors: The growth of the Eye Care market in Portugal is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income for many individuals. This has allowed more people to afford eye care services and products, driving the demand in the market. Additionally, the aging population in Portugal is also contributing to the growth of the Eye Care market, as older individuals often require more frequent eye exams and vision correction products.

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.