Key regions: Canada, Europe, India, Australia, South Korea
The Eye Care (Pharmacies) market in Benin is experiencing significant growth and development in recent years.
Customer preferences: Customers in Benin are increasingly prioritizing their eye health and seeking out convenient and accessible solutions. This has led to a growing demand for eye care products and services in pharmacies. Customers prefer to visit pharmacies for their eye care needs due to the convenience of location and the availability of trained professionals who can provide advice and recommendations.
Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Benin is the increasing availability and variety of eye care products in pharmacies. Pharmacies are expanding their product offerings to include a wide range of eyewear, contact lenses, and eye drops to meet the diverse needs of their customers. This trend is driven by the growing awareness of the importance of eye health and the increasing prevalence of vision problems in the population. Another trend in the market is the rising popularity of optical services in pharmacies. Many pharmacies now offer eye examinations and prescription services, allowing customers to get their eyes tested and receive appropriate recommendations for eyewear or other treatments. This trend is driven by the convenience and accessibility of pharmacies, as well as the trust that customers have in the expertise of pharmacists.
Local special circumstances: Benin is a country with a high prevalence of vision problems, including refractive errors and cataracts. This has created a significant demand for eye care products and services in the country. However, the availability of specialized eye care providers, such as ophthalmologists, is limited, especially in rural areas. Pharmacies play a crucial role in filling this gap by providing accessible and affordable eye care solutions to the population.
Underlying macroeconomic factors: The growth of the Eye Care (Pharmacies) market in Benin is also influenced by various macroeconomic factors. The country has been experiencing steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has allowed more people to afford eye care products and services, driving the demand in the market. In addition, the government of Benin has been implementing policies and initiatives to improve access to healthcare services, including eye care. This has created a supportive environment for the development of the Eye Care (Pharmacies) market, as pharmacies are seen as an important channel for delivering healthcare services to the population. Overall, the Eye Care (Pharmacies) market in Benin is witnessing significant growth and development, driven by customer preferences for convenient and accessible solutions, the availability of a wide range of eye care products and services in pharmacies, the high prevalence of vision problems in the population, and the supportive macroeconomic factors.
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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