Eye Care (Pharmacies) - Botswana

Botswana

Highlights

Revenue in the Eye Care market is projected to reach US$121.00k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.92%, resulting in a market volume of US$153.80k by 2029.
In global comparison, most revenue will be generated Japan (US$904.40m in 2024).
In relation to total population figures, per person revenues of US$0.04 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care (Pharmacies) market in Botswana has been experiencing steady growth in recent years.

Customer preferences: Customers in Botswana have shown a growing preference for eye care products and services. This can be attributed to a number of factors, including an increasing awareness of the importance of eye health and a higher incidence of eye-related conditions such as myopia and presbyopia. In addition, the aging population in Botswana has contributed to the rising demand for eye care products, as older individuals are more likely to experience vision problems and require corrective measures.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Botswana is the increasing availability and accessibility of eye care products and services. Pharmacies across the country have expanded their range of eye care products, including prescription glasses, contact lenses, and over-the-counter eye drops. This trend has made it easier for customers to access the products they need, without having to visit specialized eye care clinics or opticians. Another trend in the market is the growing popularity of online purchasing. Many customers in Botswana are now opting to purchase eye care products online, due to the convenience and wider product selection offered by e-commerce platforms. This trend has prompted pharmacies to establish their own online presence, allowing customers to browse and purchase eye care products from the comfort of their own homes.

Local special circumstances: Botswana has a relatively small population compared to other countries in the region, which has led to a more concentrated market for eye care products and services. This has allowed pharmacies in Botswana to develop strong customer relationships and tailor their offerings to meet the specific needs of the local population. Additionally, the government of Botswana has implemented policies to promote the accessibility of healthcare services, including eye care. This has created a supportive environment for the growth of the Eye Care (Pharmacies) market in the country.

Underlying macroeconomic factors: The overall economic growth in Botswana has had a positive impact on the Eye Care (Pharmacies) market. As the economy continues to expand, individuals have more disposable income to spend on healthcare, including eye care. This has fueled the demand for eye care products and services, leading to the growth of the market. Additionally, the government's investment in healthcare infrastructure and initiatives to improve access to healthcare services have further contributed to the development of the Eye Care (Pharmacies) market in Botswana. In conclusion, the Eye Care (Pharmacies) market in Botswana is experiencing growth due to increasing customer preferences for eye care products and services, the availability of a wider range of products, the popularity of online purchasing, and supportive local circumstances and 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.