Market Insights Health Pharmacies OTC Products

Eye Care (Pharmacies) - Austria

Austria

Revenue in the Eye Care market is projected to reach US$25.61m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.55%, resulting in a market volume of US$27.66m by 2029.
In global comparison, most revenue will be generated in Japan (US$904.40m in 2024).
In relation to total population figures, per person revenues of US$2.85 are generated in 2024.

Key regions: Canada, Europe, India, Australia, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

The Eye Care (Pharmacies) market in Austria has been experiencing significant growth in recent years. Customer preferences have shifted towards a greater emphasis on eye health and wellness, leading to increased demand for eye care products and services. This trend is driven by various factors, including an aging population, increased screen time, and a growing awareness of the importance of eye health.

Customer preferences: Customers in Austria are becoming more conscious of their eye health and are seeking out products and services that can help them maintain good vision. This has led to a higher demand for eye care products such as contact lenses, glasses, and eye drops. Additionally, there has been an increase in the number of people seeking regular eye examinations to detect and prevent vision problems.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Austria is the growing popularity of online shopping for eye care products. Customers are increasingly turning to online retailers to purchase contact lenses, glasses, and other eye care products due to the convenience and competitive pricing offered by online platforms. This trend is expected to continue as more people become comfortable with online shopping and as e-commerce platforms improve their offerings. Another trend in the market is the rising demand for natural and organic eye care products. Customers are becoming more conscious of the ingredients used in their eye care products and are seeking out natural and organic alternatives. This trend is driven by a growing awareness of the potential harmful effects of chemicals and synthetic ingredients on eye health.

Local special circumstances: Austria has a well-developed healthcare system, which includes a strong network of pharmacies that offer a wide range of eye care products and services. Pharmacies in Austria play a crucial role in the distribution of eye care products, providing customers with easy access to the products they need. Additionally, pharmacies in Austria often have trained staff who can provide advice and guidance on eye care, further enhancing the customer experience.

Underlying macroeconomic factors: The Eye Care (Pharmacies) market in Austria is also influenced by underlying macroeconomic factors. The country has a stable economy and a high standard of living, which enables consumers to prioritize their eye health and invest in high-quality eye care products and services. Additionally, the aging population in Austria is contributing to the growth of the market, as older individuals are more likely to experience vision problems and require eye care products and services. In conclusion, the Eye Care (Pharmacies) market in Austria is experiencing growth due to changing customer preferences, including a greater emphasis on eye health and wellness. This trend is driven by factors such as an aging population, increased screen time, and a growing awareness of the importance of eye health. The market is also influenced by trends such as the popularity of online shopping for eye care products and the demand for natural and organic alternatives. The well-developed healthcare system and stable economy in Austria further support the growth of the market.

Methodology

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.