Key regions: Canada, Europe, India, Australia, South Korea
The Eye Care (Pharmacies) market in Estonia has been experiencing significant growth in recent years.
Customer preferences: Customers in Estonia are increasingly prioritizing their eye health and seeking out products and services that can help them maintain good vision. This is driven by a growing awareness of the importance of eye care and the potential consequences of neglecting it. As a result, there is a rising demand for a wide range of eye care products, including contact lenses, prescription glasses, and over-the-counter eye drops. Customers are also looking for convenience and accessibility, preferring to purchase eye care products from pharmacies that offer a one-stop solution for their needs.
Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Estonia is the increasing popularity of online shopping for eye care products. Customers are now able to conveniently browse and purchase a wide range of products from the comfort of their own homes. This trend has been accelerated by the COVID-19 pandemic, which has led to an increased reliance on e-commerce across various industries. As a result, online retailers specializing in eye care products have seen a surge in demand. Another trend in the market is the growing demand for natural and organic eye care products. Customers are becoming more conscious of the ingredients used in the products they use on their eyes and are seeking out options that are free from harsh chemicals and additives. This trend is in line with the broader global shift towards natural and sustainable products, and it presents an opportunity for manufacturers and retailers to cater to this growing segment of environmentally conscious customers.
Local special circumstances: Estonia has a well-developed healthcare system, which includes a strong network of pharmacies that play a crucial role in providing accessible healthcare services to the population. Pharmacies in Estonia are not only retail outlets for medications and healthcare products but also serve as a source of information and advice for customers. This makes them an ideal distribution channel for eye care products, as customers can seek professional guidance from pharmacists when selecting the right products for their specific needs.
Underlying macroeconomic factors: The Eye Care (Pharmacies) market in Estonia is also influenced by several macroeconomic factors. The country has a stable economy and a high standard of living, which means that customers have the disposable income to spend on eye care products. Additionally, Estonia has a high level of digital literacy, with a large proportion of the population having access to the internet and engaging in online shopping. This creates a favorable environment for the growth of the online eye care market. In conclusion, the Eye Care (Pharmacies) market in Estonia is experiencing growth due to increasing customer preferences for eye health, the popularity of online shopping, the demand for natural and organic products, the presence of a well-developed healthcare system, and favorable macroeconomic factors. This presents opportunities for both traditional pharmacies and online retailers to cater to the evolving needs of customers in Estonia.
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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