Market Insights Health OTC Pharmaceuticals

Eye Care - Western Asia

Western Asia

In Western Asia, the revenue in the Eye Care market market is projected to reach US$90.31m in 2024.
It is anticipated that the market will experience an annual growth rate of 2.38% (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.
Considering the total population figures, per person revenues of US$0.41 are expected in 2024.
In Western Asia, there is a growing trend towards the use of natural and herbal eye care products in the OTC Pharmaceuticals market.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Eye Care market in Western Asia is experiencing significant growth and development due to various factors. Customer preferences in the Eye Care market in Western Asia are shifting towards a greater emphasis on preventive care and overall eye health. Consumers are becoming more aware of the importance of regular eye examinations and are seeking out products and services that can help maintain and improve their vision. Additionally, there is a growing demand for eyewear that combines style with functionality, as individuals are increasingly using eyeglasses and contact lenses as fashion accessories. Trends in the Eye Care market in Western Asia include the rising popularity of online retail channels for purchasing eyewear and contact lenses. This trend is driven by the convenience and competitive pricing offered by online retailers, as well as the ability to access a wider range of products. Additionally, there is an increasing demand for innovative and technologically advanced eye care products, such as smart contact lenses and digital eye strain solutions. Local special circumstances in Western Asia, such as the high prevalence of myopia and dry eye syndrome, are contributing to the growth of the Eye Care market. Myopia, or nearsightedness, is a common vision problem in the region, particularly among children and young adults. This has led to an increased demand for corrective eyewear and vision correction procedures. Dry eye syndrome, on the other hand, is often caused by environmental factors such as dry air and dust, which are prevalent in Western Asia. As a result, there is a growing market for eye drops and other products that can provide relief from dry eye symptoms. Underlying macroeconomic factors, such as a growing middle class and increasing disposable income, are also driving the growth of the Eye Care market in Western Asia. As individuals have more purchasing power, they are able to afford higher quality eye care products and services. Additionally, the aging population in the region is contributing to the demand for eye care, as age-related vision problems become more prevalent. Overall, the Eye Care market in Western Asia is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As consumers become more conscious of their eye health and have greater access to innovative products and services, the market is expected to continue expanding 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.