Key regions: Canada, Europe, India, Australia, South Korea
The Eye Care (Pharmacies) market in ASEAN is experiencing significant growth due to changing customer preferences and an increasing focus on eye health. Customer preferences in the Eye Care (Pharmacies) market in ASEAN have shifted towards a greater emphasis on preventive care and overall wellness. Consumers are becoming more aware of the importance of maintaining good eye health and are actively seeking products and services that can help them achieve this. This has led to an increase in demand for eye care products such as contact lenses, eye drops, and vitamins specifically formulated for eye health. Additionally, there is a growing interest in natural and organic eye care products, as consumers become more conscious of the ingredients they are putting in and around their eyes. Trends in the market indicate a growing demand for innovative and convenient eye care solutions. With the rise of digital devices and prolonged screen time, there has been an increase in cases of digital eye strain and dry eyes. This has led to the development of specialized eye care products targeting these specific issues, such as blue light-blocking glasses and lubricating eye drops. Furthermore, the market is witnessing a rise in telemedicine services, allowing consumers to consult with eye care professionals remotely and receive personalized advice and prescriptions. Local special circumstances in ASEAN countries play a role in shaping the Eye Care (Pharmacies) market. For example, countries with a large aging population, such as Singapore and Thailand, are experiencing a higher demand for eye care products and services. This is due to age-related eye conditions such as cataracts and macular degeneration, which require regular monitoring and treatment. On the other hand, countries with a younger population, such as Indonesia and the Philippines, are witnessing a surge in demand for contact lenses and fashionable eyewear. Underlying macroeconomic factors are also contributing to the growth of the Eye Care (Pharmacies) market in ASEAN. Rising disposable incomes and increasing healthcare expenditure are enabling consumers to afford and prioritize eye care products and services. Additionally, urbanization and the expansion of the middle class are driving the growth of retail channels, including pharmacies, making eye care products more accessible to a larger population. In conclusion, the Eye Care (Pharmacies) market in ASEAN is experiencing growth due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As consumers become more aware of the importance of eye health and seek convenient and innovative solutions, the market is expected to continue its upward trajectory.
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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