Market Insights Health OTC Pharmaceuticals

Eye Care - South America

South America

In South America, the revenue in the Eye Care market market reaches a substantial amount of US$183.00m in 2024.
It is projected that the market will experience a steady annual growth rate of 3.40% (CAGR 2024-2029).
When compared to the global market, the in the United States stands out as the top revenue generator, reaching a remarkable US$1,256.00m in 2024.
In terms of per capita figures, the revenue per person in South America amounts to US$0.44 in 2024.
In South America, there is a growing demand for affordable and accessible eye care products in the OTC Pharmaceuticals market.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Eye Care market in South America is experiencing significant growth and development due to several key factors. Customer preferences in the Eye Care market in South America are shifting towards a greater emphasis on preventive care and overall eye health. Consumers are becoming more aware of the importance of regular eye exams and are seeking out products and services that can help maintain and improve their vision. This trend is driven by a growing middle class population with increasing disposable income, as well as an aging population that is more concerned about age-related vision problems. In addition to preventive care, there is also a growing demand for corrective eyewear in South America. As more people become aware of the importance of vision correction, the market for prescription glasses and contact lenses is expanding. This trend is further fueled by the increasing prevalence of myopia and other vision problems, particularly among younger populations. Another trend in the Eye Care market in South America is the growing popularity of cosmetic contact lenses. These lenses, which can change the color or appearance of the eye, are increasingly being used for fashion purposes. This trend is driven by a desire for individuality and self-expression, particularly among younger consumers. Local special circumstances in South America also contribute to the development of the Eye Care market. In many countries in the region, access to healthcare services, including eye care, is limited. This creates a significant opportunity for private eye care providers to fill the gap and meet the growing demand for services. Additionally, the region has a large population of indigenous people who have unique eye care needs and preferences. Underlying macroeconomic factors also play a role in the development of the Eye Care market in South America. Economic growth in the region has led to an increase in disposable income, allowing more people to afford eye care products and services. Additionally, improvements in healthcare infrastructure and technology have made eye care more accessible and affordable. Overall, the Eye Care market in South America is experiencing growth and development driven by changing customer preferences, local special circumstances, and underlying macroeconomic factors. As the importance of eye health becomes more widely recognized and access to eye care improves, the market is expected to continue to expand in the coming years.

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.