Market Insights Health OTC Pharmaceuticals

Eye Care - Suriname

Suriname

Suriname's Eye Care market market is projected to generate a revenue of US$173.10k in 2024.
It is anticipated to experience an annual growth rate of 4.40% (CAGR 2024-2029).
In a global context, the in the United States leads the way with the highest revenue of US$1,256.00m in 2024.
Considering the population, the per capita revenue in Suriname amounts to US$0.28 in 2024.
In Suriname, there has been a growing demand for over-the-counter eye care products due to an increasing awareness of the importance of maintaining good eye health.

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

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Analyst Opinion

The Eye Care market in Suriname is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.Customer preferences in the Eye Care market in Suriname are shifting towards a greater emphasis on preventive and corrective eye care. With an increasing awareness about the importance of eye health, customers are seeking regular eye examinations and investing in eyewear products such as glasses and contact lenses. This shift in preferences can be attributed to the rising prevalence of vision problems and the desire to maintain good eye health.Trends in the Eye Care market in Suriname are also contributing to its development. One notable trend is the increasing adoption of digital devices, such as smartphones and tablets, which has led to a higher demand for eyewear with blue light filtering capabilities. Additionally, the growing popularity of fashion-forward eyewear has created a new segment in the market, with customers seeking stylish and trendy frames. Furthermore, the rise of e-commerce platforms has made it easier for customers to access a wider range of eyewear options and compare prices, driving competition among market players.Local special circumstances in Suriname also play a role in the development of the Eye Care market. The country's aging population is a significant factor, as older individuals are more likely to experience age-related vision problems and require specialized eye care services. Moreover, the high prevalence of diabetes in Suriname contributes to a higher demand for diabetic eye care services, as diabetes can lead to vision complications.Underlying macroeconomic factors further contribute to the growth of the Eye Care market in Suriname. The country's improving economic conditions, coupled with a growing middle class, have resulted in increased disposable income and higher spending power. This has allowed customers to allocate a larger portion of their income towards eye care products and services. Additionally, the government's focus on healthcare infrastructure development and initiatives to improve accessibility to eye care services have also contributed to the market's growth.In conclusion, the Eye Care market in Suriname is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. With a greater emphasis on preventive and corrective eye care, the market is witnessing increased demand for eye examinations, eyewear products, and specialized eye care services. As customer preferences continue to evolve and the market expands, there are opportunities for both local and international players to capitalize on the growing demand in Suriname's Eye Care market.

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.