Eye Care - Saudi Arabia

Saudi Arabia

Highlights

In Saudi Arabia, the Eye Care market market generates a revenue of US$16.82m in 2024.
It is projected to experience an annual growth rate of 1.94% (CAGR 2024-2029).
When compared to other countries worldwide, the United States leads the market with a revenue of US$1.26bn in 2024.
Taking into account the total population, per person revenues amount to US$0.45 in 2024.
Saudi Arabia is experiencing a growing demand for OTC eye care products due to an increasing prevalence of eye-related conditions.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Customers in Saudi Arabia are increasingly prioritizing their eye health and are seeking out products and services that can help improve their vision and overall eye care. They are becoming more aware of the importance of regular eye check-ups and are willing to invest in high-quality eye care products and treatments. Additionally, there is a growing demand for fashionable and trendy eyewear, with customers looking for stylish frames that can also offer vision correction.

Trends in the market: One of the key trends in the Eye Care market in Saudi Arabia is the increasing adoption of contact lenses. Contact lenses provide a convenient and comfortable alternative to traditional eyeglasses, allowing individuals to have clear vision without the need for bulky frames. This trend is driven by factors such as increasing awareness about contact lens options, advancements in lens technology, and the desire for a more natural appearance.Another trend in the market is the rising popularity of laser eye surgery. This procedure, also known as LASIK, corrects refractive errors and eliminates the need for glasses or contact lenses. The growing acceptance and success rate of laser eye surgery in Saudi Arabia have made it an attractive option for individuals looking for a permanent solution to their vision problems.

Local special circumstances: Saudi Arabia has a high prevalence of eye-related conditions such as myopia and astigmatism. This, coupled with the increasing awareness and importance of eye health, has led to a greater demand for eye care products and services. Additionally, the country's young population and high disposable income contribute to the growing market for eye care.

Underlying macroeconomic factors: The Eye Care market in Saudi Arabia is also influenced by macroeconomic factors such as economic growth, urbanization, and changing lifestyles. As the country continues to experience economic growth and urban development, more people have access to better healthcare facilities and services, including eye care. The increasing urbanization and changing lifestyles also contribute to the rising demand for eye care products and services, as individuals are exposed to factors such as increased screen time and pollution, which can impact their eye health.In conclusion, the Eye Care market in Saudi Arabia is witnessing significant growth and development, driven by customer preferences for improved eye health, the adoption of contact lenses, and the popularity of laser eye surgery. The local special circumstances, such as a high prevalence of eye-related conditions and a young population with high disposable income, further contribute to the market's growth. Additionally, macroeconomic factors such as economic growth, urbanization, and changing lifestyles play a role in shaping the market trends in Saudi Arabia.

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.