Market Insights Health Pharmacies OTC Products

Eye Care (Pharmacies) - Bahrain

Bahrain

Revenue in the Eye Care market is projected to reach US$0.37m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.05%, resulting in a market volume of US$0.43m 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$0.25 are generated in 2024.

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

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Analyst Opinion

The Eye Care (Pharmacies) market in Bahrain has been experiencing significant growth in recent years.

Customer preferences: Customers in Bahrain have shown a growing interest in eye care products and services. This can be attributed to several factors, including an increasing awareness of the importance of eye health and a rise in the prevalence of eye-related issues. Additionally, the convenience of purchasing eye care products from pharmacies has made them a popular choice among consumers.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Bahrain is the growing demand for contact lenses. Contact lenses offer a convenient and comfortable alternative to traditional eyeglasses, and they are becoming increasingly popular among consumers. This trend can be attributed to advancements in contact lens technology, which have made them more comfortable and easier to use. Additionally, the availability of a wide range of contact lens options, including colored and specialty lenses, has also contributed to their popularity. Another trend in the market is the increasing demand for natural and organic eye care products. Consumers in Bahrain are becoming more conscious of the ingredients used in their eye care products and are seeking out natural and organic options. This trend can be attributed to a growing awareness of the potential harmful effects of certain chemicals and additives used in traditional eye care products. As a result, pharmacies in Bahrain are expanding their offerings to include a wider range of natural and organic eye care products to cater to this demand.

Local special circumstances: Bahrain has a high prevalence of dry eye syndrome, which has contributed to the growth of the Eye Care (Pharmacies) market in the country. Dry eye syndrome is a common condition that occurs when the eyes do not produce enough tears or when the tears evaporate too quickly. The dry climate in Bahrain, combined with factors such as air pollution and increased screen time, has led to a higher incidence of dry eye syndrome among the population. As a result, there is a high demand for eye drops and other products that can help alleviate the symptoms of dry eye syndrome.

Underlying macroeconomic factors: The overall growth of the Eye Care (Pharmacies) market in Bahrain can also be attributed to favorable macroeconomic factors. Bahrain has a stable and growing economy, which has resulted in an increase in disposable income among consumers. This has allowed them to spend more on healthcare and wellness products, including eye care products. Additionally, the government of Bahrain has been actively promoting healthcare and wellness initiatives, which has further contributed to the growth of the Eye Care (Pharmacies) market in the country. In conclusion, the Eye Care (Pharmacies) market in Bahrain is experiencing significant growth due to increasing customer preferences for contact lenses and natural/organic eye care products. The high prevalence of dry eye syndrome in the country has also contributed to the growth of the market. Favorable macroeconomic factors, such as a stable economy and government initiatives, have further supported 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.