Key regions: Canada, Europe, India, Australia, South Korea
The Eye Care (Pharmacies) market in BRICS is experiencing significant growth due to a combination of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in the BRICS countries are becoming increasingly aware of the importance of eye care and are seeking out products and services to maintain and improve their vision. With the rise in digital devices usage, there is a growing demand for products that address eye strain and other related issues. Additionally, the aging population in BRICS countries is driving the demand for eye care products such as reading glasses and contact lenses.
Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in BRICS is the increasing availability and affordability of eye care products. Pharmacies are expanding their range of eye care products, including prescription glasses, contact lenses, and over-the-counter eye drops. This trend is driven by the growing competition among pharmacies and the increasing number of eye care specialists who are partnering with pharmacies to provide comprehensive eye care services. Another trend in the market is the growing popularity of online shopping for eye care products. Customers are increasingly turning to online platforms to purchase contact lenses, glasses, and other eye care products. This trend is driven by the convenience and competitive pricing offered by online retailers. Pharmacies are adapting to this trend by establishing their own online presence or partnering with online retailers to reach a wider customer base.
Local special circumstances: Each BRICS country has its own unique set of circumstances that impact the Eye Care (Pharmacies) market. For example, in Brazil, there is a high prevalence of myopia among the population, which has led to an increased demand for corrective eyewear. In Russia, there is a strong culture of wearing glasses, and customers often prefer designer frames. In India, there is a growing middle class with disposable income, which is driving the demand for premium eye care products.
Underlying macroeconomic factors: The strong economic growth in the BRICS countries is a major factor driving the development of the Eye Care (Pharmacies) market. As the middle class expands and disposable incomes rise, more customers are able to afford eye care products and services. Additionally, the increasing urbanization in these countries is leading to a higher demand for eye care products, as urban dwellers are more likely to spend long hours in front of screens and are exposed to higher levels of pollution. In conclusion, the Eye Care (Pharmacies) market in BRICS is experiencing growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing awareness of eye care, the availability of affordable products, the rise of online shopping, and the unique circumstances in each BRICS country are all contributing to the development of this market. As the BRICS countries continue to grow economically and their populations become more health-conscious, the Eye Care (Pharmacies) market is expected to further expand.
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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