Key regions: Canada, Europe, India, Australia, South Korea
The Eye Care (Pharmacies) market in Armenia is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Eye Care (Pharmacies) market in Armenia are shifting towards a greater emphasis on preventive eye care and the use of natural and organic products. Customers are becoming more aware of the importance of maintaining good eye health and are seeking products that can help them achieve this. This shift in preferences is driven by a growing desire for a healthier lifestyle and a greater focus on self-care. As a result, there is an increasing demand for products such as eye drops, vitamins, and supplements that promote eye health. Trends in the Eye Care (Pharmacies) market in Armenia include the rise of e-commerce and online sales. With the increasing penetration of internet and smartphones in the country, more customers are turning to online platforms to purchase eye care products. This trend is driven by the convenience and accessibility of online shopping, as well as the availability of a wider range of products compared to traditional brick-and-mortar stores. Additionally, there is a growing trend of customers seeking personalized and customized eye care solutions. This includes products that are tailored to specific eye conditions or individual preferences, such as contact lenses with different colors or designs. Local special circumstances in Armenia, such as a high prevalence of eye-related diseases and a lack of access to specialized eye care services, are also contributing to the growth of the Eye Care (Pharmacies) market. The country has a relatively high incidence of conditions such as cataracts, glaucoma, and diabetic retinopathy, which require regular eye care and treatment. However, there is a shortage of specialized eye care clinics and hospitals, particularly in rural areas. As a result, many people rely on pharmacies to access basic eye care products and services. This has created a significant market opportunity for pharmacies to expand their eye care offerings and cater to the needs of the population. Underlying macroeconomic factors, such as a growing middle class, increasing disposable incomes, and a stable economy, are also driving the growth of the Eye Care (Pharmacies) market in Armenia. As people have more money to spend on healthcare and personal well-being, they are willing to invest in high-quality eye care products. Additionally, the stable economy and favorable business environment in Armenia have attracted foreign investors, leading to the establishment of more pharmacies and the availability of a wider range of eye care products. Overall, the Eye Care (Pharmacies) market in Armenia is developing rapidly due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As the market continues to grow, there will be increasing opportunities for pharmacies to expand their eye care offerings and cater to the evolving needs of the population.
Data coverage:
The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.
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