Eye Care (Pharmacies) - Eastern Africa

Eastern Africa

Highlights

Revenue in the Eye Care market is projected to reach US$7.43m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.78%, resulting in a market volume of US$9.38m 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$0.02 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care (Pharmacies) market in Eastern Africa is experiencing significant growth and development. Customer preferences in the region are shifting towards a greater focus on eye health, leading to increased demand for eye care products and services. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the expansion of the market. Customer preferences in Eastern Africa are increasingly prioritizing eye health. As awareness about the importance of regular eye check-ups and preventive measures grows, individuals are seeking out eye care products and services. This shift in preference is driven by factors such as an aging population, increased screen time, and a growing middle class with disposable income to spend on healthcare. As a result, pharmacies in the region are witnessing a surge in demand for eye care products, including prescription glasses, contact lenses, and over-the-counter eye drops. Trends in the market further support the growth of the Eye Care (Pharmacies) market in Eastern Africa. One notable trend is the rise of online platforms and e-commerce for purchasing eye care products. This allows customers to conveniently browse and compare different brands and products, making it easier to access and purchase eye care items. Additionally, the availability of a wider range of products online enables customers to find specialized eye care solutions that may not be readily available in physical stores. This trend is particularly appealing to younger consumers who are tech-savvy and prefer the convenience of online shopping. Local special circumstances also contribute to the development of the Eye Care (Pharmacies) market in Eastern Africa. The region has a high prevalence of eye conditions such as cataracts and refractive errors, which require regular eye care and treatment. This creates a steady demand for eye care products and services, providing a favorable market environment for pharmacies. Furthermore, the lack of specialized eye care clinics and hospitals in remote areas makes pharmacies the primary source of eye care for many individuals. As a result, pharmacies play a crucial role in providing accessible and affordable eye care solutions to the population. Underlying macroeconomic factors also play a role in the growth of the Eye Care (Pharmacies) market in Eastern Africa. The region is experiencing economic growth, with rising incomes and an expanding middle class. This translates to increased purchasing power and the ability to afford eye care products and services. Furthermore, improvements in healthcare infrastructure and access to healthcare services contribute to the overall development of the eye care market. As the healthcare system in Eastern Africa continues to evolve and expand, pharmacies are well-positioned to meet the growing demand for eye care. In conclusion, the Eye Care (Pharmacies) market in Eastern Africa is witnessing significant growth and development. Customer preferences, including a focus on eye health, are driving the demand for eye care products and services. Trends such as the rise of online platforms and e-commerce further support the expansion of the market. Local special circumstances, including a high prevalence of eye conditions and the role of pharmacies as primary eye care providers, contribute to the growth of the market. Additionally, underlying macroeconomic factors such as economic growth and improvements in healthcare infrastructure play a significant role in the development of the Eye Care (Pharmacies) market in Eastern Africa.

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.