Eye Care - Thailand

Thailand

Highlights

In Thailand, the revenue generated in the Eye Care market market in 2024 amounts to US$25.10m.
It is projected that the market will experience an annual growth of 3.74% from 2024 to 2029 (CAGR 2024-2029).
When compared globally, the United States generates the highest revenue in the Eye Care market market, reaching US$1.26bn in 2024.
In terms of per capita income, in 2024, each individual in Thailand contributes US$0.35 to the Eye Care market market revenue.
Thailand's eye care market is witnessing a surge in demand for OTC pharmaceuticals, driven by a growing aging population and increasing awareness about eye health.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care market in Thailand has been experiencing significant growth in recent years.

Customer preferences: Thailand has a large population, and with increasing awareness about eye health, there has been a growing demand for eye care products and services. Customers in Thailand are becoming more conscious about their eye health and are willing to invest in products and services that can help them maintain good vision. This has led to a surge in the demand for eyeglasses, contact lenses, and other eye care products. Additionally, there is a growing preference for branded and high-quality eye care products among consumers in Thailand.

Trends in the market: One of the key trends in the Eye Care market in Thailand is the increasing popularity of contact lenses. Contact lenses offer convenience and comfort, and they are becoming a preferred choice for many individuals in Thailand. The market for contact lenses has been growing steadily, with a wide range of options available to cater to different customer needs. Another trend in the market is the rising demand for specialized eye care services, such as laser eye surgery and other advanced treatments. As the healthcare infrastructure in Thailand continues to improve, more people are opting for these services to correct their vision problems.

Local special circumstances: Thailand is known for its hot and humid climate, which can have an impact on eye health. The high levels of humidity can lead to dry eyes, and this has contributed to the demand for eye care products that can provide relief from dryness and irritation. Additionally, Thailand has a significant aging population, which is driving the demand for products and services related to age-related eye conditions, such as cataracts and glaucoma.

Underlying macroeconomic factors: Thailand has experienced steady economic growth in recent years, which has contributed to the increasing disposable income of the population. This has made eye care products and services more affordable and accessible to a larger segment of the population. Furthermore, the government of Thailand has been actively promoting the importance of eye health and has implemented various initiatives to raise awareness and improve access to eye care services. These factors have created a favorable environment for the growth of the Eye Care market in Thailand.In conclusion, the Eye Care market in Thailand is witnessing significant growth due to increasing customer awareness about eye health, changing preferences, and favorable macroeconomic factors. The market is expected to continue to expand as more people prioritize their eye health and seek out products and services to maintain good vision.

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.