Key regions: Canada, Europe, India, Australia, South Korea
The Eye Care (Pharmacies) market in Burundi is experiencing significant growth and development due to various factors.
Customer preferences: Customers in Burundi have shown a growing interest in eye care products and services. This can be attributed to the increasing awareness about the importance of eye health and the availability of a wider range of eye care products in the market. Customers are now more willing to invest in quality eye care products and are seeking professional advice from pharmacies.
Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Burundi is the rising demand for contact lenses. Contact lenses are becoming increasingly popular among customers who want an alternative to traditional eyeglasses. This trend is driven by factors such as convenience, improved aesthetics, and advancements in contact lens technology. Pharmacies in Burundi are capitalizing on this trend by expanding their range of contact lens products and providing fitting services. Another trend in the market is the growing demand for specialized eye care products. Customers are now looking for products that cater to specific eye conditions such as dry eyes, allergies, and age-related macular degeneration. Pharmacies are responding to this demand by stocking a wider range of specialized eye care products and providing expert advice to customers.
Local special circumstances: Burundi has a relatively low level of eye care infrastructure compared to some other countries in the region. This presents both challenges and opportunities for the Eye Care (Pharmacies) market. On one hand, the lack of specialized eye care clinics and hospitals means that pharmacies play a crucial role in providing basic eye care services and products to the population. On the other hand, the limited availability of specialized eye care services creates a gap in the market that pharmacies can potentially fill by offering more advanced eye care products and services.
Underlying macroeconomic factors: The economic growth and increasing disposable income in Burundi are contributing to the development of the Eye Care (Pharmacies) market. As people's incomes rise, they are more willing to spend on healthcare, including eye care. This is driving the demand for eye care products and services in pharmacies. In conclusion, the Eye Care (Pharmacies) market in Burundi is experiencing growth and development due to increasing customer preferences for eye care products, the emergence of new trends such as the demand for contact lenses and specialized eye care products, the local special circumstances of limited eye care infrastructure, and the underlying macroeconomic factors of economic growth and increasing disposable income.
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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