Key regions: Canada, Europe, India, Australia, South Korea
The Eye Care (Pharmacies) market in Bosnia and Herzegovina has been experiencing significant growth in recent years.
Customer preferences: Customers in Bosnia and Herzegovina have shown a growing interest in eye care products available at pharmacies. This can be attributed to the increasing awareness about the importance of maintaining eye health and the availability of a wide range of eye care products in pharmacies. Customers prefer to purchase eye care products from pharmacies due to the convenience and accessibility they offer. Pharmacies are easily accessible to the general public and provide a convenient one-stop-shop for all their eye care needs. Additionally, customers trust the expertise of pharmacists who can provide guidance and recommendations on the most suitable eye care products for their specific needs.
Trends in the market: One of the major trends in the Eye Care (Pharmacies) market in Bosnia and Herzegovina is the increasing demand for contact lenses. Contact lenses offer convenience and flexibility compared to traditional eyeglasses, and customers are increasingly opting for them. This trend can be attributed to the growing popularity of contact lenses among younger consumers who perceive them as a fashion statement. Additionally, the advancement in contact lens technology, such as the introduction of daily disposable lenses, has made them more appealing to customers. Another trend in the market is the rising demand for natural and organic eye care products. Customers are becoming more conscious about the ingredients used in eye care products and are seeking natural and organic options. This trend is in line with the global shift towards natural and sustainable products. Pharmacies are responding to this trend by expanding their range of natural and organic eye care products to meet customer demand.
Local special circumstances: Bosnia and Herzegovina has a relatively high prevalence of eye-related health issues, such as myopia and dry eyes. This has contributed to the increased demand for eye care products in the country. Additionally, the aging population in Bosnia and Herzegovina has led to a higher incidence of age-related eye conditions, such as cataracts and glaucoma. As a result, there is a growing need for eye care products to manage and treat these conditions.
Underlying macroeconomic factors: The growing Eye Care (Pharmacies) market in Bosnia and Herzegovina can also be attributed to the overall economic development of the country. As the economy improves, consumers have more disposable income to spend on healthcare products, including eye care. Furthermore, the increasing urbanization and access to healthcare services have also contributed to the growth of the market. In conclusion, the Eye Care (Pharmacies) market in Bosnia and Herzegovina is experiencing growth due to customer preferences for convenient access to a wide range of eye care products. The market is also influenced by trends such as the increasing demand for contact lenses and natural/organic eye care products. Local factors, such as a high prevalence of eye-related health issues and an aging population, further contribute to the growth of the market. The overall economic development of the country and improved access to healthcare services are also underlying macroeconomic factors driving the growth of the market.
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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