Key regions: Canada, Europe, India, Australia, South Korea
The Eye Care (Pharmacies) market in EAEU is experiencing significant growth and development due to various factors.
Customer preferences: Customers in the EAEU region have shown a growing interest in eye care products and services. With the increasing prevalence of eye-related issues such as myopia, presbyopia, and dry eye syndrome, there is a higher demand for products like contact lenses, eye drops, and prescription glasses. Additionally, the aging population in the region has also contributed to the rising demand for eye care products, as older individuals are more prone to age-related eye conditions.
Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in EAEU is the shift towards online purchasing. With the convenience and accessibility of e-commerce platforms, customers are increasingly turning to online channels to purchase eye care products. This trend has been further accelerated by the COVID-19 pandemic, as people have become more cautious about visiting physical stores. Online platforms offer a wide range of eye care products, competitive pricing, and doorstep delivery, making it an attractive option for customers. Another trend in the market is the growing popularity of natural and organic eye care products. Customers are becoming more conscious about the ingredients used in the products they use, and they are actively seeking out natural and organic options. This trend is driven by the increasing awareness about the potential harmful effects of chemicals and synthetic ingredients on eye health. As a result, pharmacies in the EAEU region are expanding their range of natural and organic eye care products to cater to this demand.
Local special circumstances: The EAEU region consists of countries with diverse economic conditions and healthcare systems. While some countries have well-developed healthcare infrastructure and high healthcare expenditure, others have limited access to quality eye care services. This variation in healthcare systems and infrastructure can impact the availability and affordability of eye care products in different countries within the region. Additionally, cultural factors and preferences may also influence the demand for specific eye care products in different countries.
Underlying macroeconomic factors: The Eye Care (Pharmacies) market in the EAEU region is influenced by several macroeconomic factors. Economic growth, disposable income levels, and consumer confidence play a crucial role in determining the purchasing power and affordability of eye care products. Higher economic growth and increasing disposable incomes can lead to higher spending on eye care products. On the other hand, economic downturns and income disparities can impact the demand for eye care products negatively. Government regulations and policies related to healthcare and pharmaceuticals also have a significant impact on the Eye Care (Pharmacies) market in the EAEU region. Regulatory frameworks, pricing controls, and reimbursement policies can affect the availability, pricing, and accessibility of eye care products. The harmonization of regulations within the EAEU bloc has facilitated the trade of pharmaceutical products, including eye care products, among member countries. In conclusion, the Eye Care (Pharmacies) market in the EAEU region is experiencing growth and development due to increasing customer preferences for eye care products, the emergence of new trends such as online purchasing and the demand for natural and organic products, as well as local special circumstances and underlying 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.
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