Eye Care (Pharmacies) - China

China

Highlights

Revenue in the Eye Care market is projected to reach US$475.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.09%, resulting in a market volume of US$580.70m 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$0.33 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care (Pharmacies) market in China has been experiencing significant growth in recent years. Customer preferences for eye care products and services have been a driving force behind this trend. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market. Customer preferences in China have shifted towards a greater emphasis on eye health and wellness. With the increasing prevalence of digital devices and longer working hours, there has been a growing awareness of the importance of taking care of one's eyes. This has led to a higher demand for eye care products such as contact lenses, eye drops, and vitamins specifically formulated for eye health. Customers are also seeking more specialized services such as vision screenings and consultations with optometrists. Trends in the market reflect these changing customer preferences. Pharmacies in China have been expanding their eye care product offerings to meet the growing demand. They have been partnering with international eye care brands to bring in a wider range of products that cater to different customer needs. Pharmacies have also been investing in training their staff to provide professional advice and recommendations to customers regarding eye care products. This trend is expected to continue as the market further develops. Local special circumstances in China have also contributed to the growth of the Eye Care (Pharmacies) market. China has a large population with a high prevalence of myopia, or nearsightedness. This has created a significant market for corrective eyewear such as glasses and contact lenses. Additionally, the Chinese government has been promoting eye health and wellness through various initiatives, including educational campaigns and subsidies for eye care products. These efforts have further increased the demand for eye care products and services in the country. Underlying macroeconomic factors have also played a role in the development of the Eye Care (Pharmacies) market in China. The country's growing middle class and rising disposable incomes have allowed more individuals to afford eye care products and services. Furthermore, the rapid urbanization and increasing access to healthcare services have made eye care more accessible to a larger portion of the population. These factors have created a favorable market environment for the growth of the Eye Care (Pharmacies) market in China. In conclusion, the Eye Care (Pharmacies) market in China is experiencing significant growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The market is expected to continue developing as customers prioritize eye health and wellness, pharmacies expand their product offerings, and the government promotes eye care initiatives.

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.