Eye Care (Pharmacies) - Fiji

Fiji

Highlights

Revenue in the Eye Care market is projected to reach US$474.80k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.37%, resulting in a market volume of US$560.50k 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$0.50 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care (Pharmacies) market in Fiji is experiencing steady growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Fiji are shifting towards a greater emphasis on eye health and wellness. As people become more aware of the importance of maintaining good eye health, they are seeking out products and services that can help them achieve this goal. This includes a growing demand for eye care products such as contact lenses, prescription glasses, and over-the-counter eye drops. Additionally, there is an increasing interest in preventative measures, such as regular eye exams and screenings, to detect and address any potential issues before they become more serious. Trends in the market are also contributing to the growth of the Eye Care (Pharmacies) market in Fiji. One notable trend is the rise of online shopping for eye care products. With the convenience of online platforms, customers can easily browse and purchase a wide range of eye care products from the comfort of their own homes. This trend has opened up new opportunities for pharmacies to expand their reach and tap into a larger customer base. Furthermore, technological advancements in the eye care industry, such as the development of innovative contact lens materials and lens coatings, are driving demand for these products in Fiji. Local special circumstances in Fiji are also playing a role in the development of the Eye Care (Pharmacies) market. The country's population is growing, and with it comes an increased need for eye care services. Additionally, Fiji has a high prevalence of certain eye conditions, such as cataracts and refractive errors, which require ongoing treatment and management. This creates a constant demand for eye care products and services, providing pharmacies with a stable customer base. Underlying macroeconomic factors are also contributing to the growth of the Eye Care (Pharmacies) market in Fiji. The country's economy has been steadily growing, leading to an increase in disposable income among the population. This allows individuals to allocate more funds towards healthcare and eye care in particular. Furthermore, the government of Fiji has been actively promoting and investing in healthcare infrastructure, including eye care facilities and services. This support from the government has helped to create a favorable environment for the growth of the Eye Care (Pharmacies) market in Fiji. In conclusion, the Eye Care (Pharmacies) market in Fiji is experiencing growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As customer awareness of eye health increases, the demand for eye care products and services is expected to continue to rise. With the support of the government and favorable macroeconomic conditions, pharmacies in Fiji are well-positioned to meet this growing demand and capitalize on the opportunities in the market.

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.