Market Insights Health Pharmacies OTC Products

Eye Care (Pharmacies) - Cameroon

Cameroon

Revenue in the Eye Care market is projected to reach US$0.65m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.78%, resulting in a market volume of US$0.71m by 2029.
In global comparison, most revenue will be generated in Japan (US$904.40m in 2024).
In relation to total population figures, per person revenues of US$0.02 are generated in 2024.

Key regions: Canada, Europe, India, Australia, South Korea

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Analyst Opinion

The Eye Care (Pharmacies) market in Cameroon is experiencing significant growth and development.

Customer preferences: Customers in Cameroon are increasingly prioritizing their eye health and seeking out products and services to address their vision needs. This is driven by a growing awareness of the importance of eye care and the impact that vision problems can have on daily life. As a result, there is a rising demand for eyeglasses, contact lenses, and other vision correction products. Additionally, customers are seeking out pharmacies that offer a wide range of eye care products and services, including eye exams and prescription eyewear.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Cameroon is the increasing availability and affordability of vision correction products. This is due to advancements in technology and manufacturing processes, which have made it easier and cheaper to produce high-quality eyeglasses and contact lenses. As a result, more customers are able to access these products and improve their vision. Another trend in the market is the growing popularity of online shopping for eye care products. Customers in Cameroon are increasingly turning to online platforms to purchase eyeglasses, contact lenses, and other vision correction products. This is driven by the convenience and wide selection offered by online retailers, as well as the ability to compare prices and read customer reviews. Online shopping also allows customers to access eye care products that may not be available locally.

Local special circumstances: Cameroon has a relatively young population, with a large proportion of the population under the age of 30. This demographic trend is driving the demand for eye care products, as younger individuals are more likely to experience vision problems and seek out solutions. In addition, the government of Cameroon has been actively promoting eye health and awareness through various initiatives, which has further contributed to the growth of the Eye Care (Pharmacies) market.

Underlying macroeconomic factors: Cameroon is experiencing steady economic growth, which has led to an increase in disposable income among the population. As a result, customers have more financial resources to allocate towards their eye care needs. The government's efforts to improve healthcare infrastructure and access to healthcare services have also contributed to the growth of the Eye Care (Pharmacies) market. Additionally, the presence of international eye care brands and retailers in Cameroon has further stimulated competition and innovation in the market.

Methodology

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.