Key regions: Canada, Europe, India, Australia, South Korea
The Eye Care (Pharmacies) market in G20 countries is experiencing significant growth due to increasing customer preferences for convenient and accessible eye care products and services.
Customer preferences: Customers in G20 countries are increasingly seeking out eye care products and services from pharmacies due to their convenience and accessibility. Pharmacies offer a wide range of eye care products, including contact lenses, prescription glasses, and over-the-counter eye drops. Customers appreciate the ability to purchase these products in one place, saving them time and effort. Additionally, pharmacies often have trained staff who can provide advice and guidance on eye care, further enhancing the customer experience.
Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in G20 countries is the rising demand for contact lenses. Contact lenses offer a convenient alternative to traditional eyeglasses, providing clear vision without the need for frames. As a result, more customers are opting for contact lenses, leading to increased sales in this segment. Additionally, there is a growing trend towards purchasing contact lenses online, with many pharmacies offering online ordering and delivery services. Another trend in the market is the increasing demand for specialized eye care products. Customers are becoming more aware of the importance of maintaining good eye health and are seeking out products that address specific eye conditions or concerns. For example, there is a growing demand for eye drops that provide relief from dry eyes or allergies. Pharmacies are responding to this trend by expanding their range of specialized eye care products, catering to the specific needs of their customers.
Local special circumstances: The Eye Care (Pharmacies) market in G20 countries is influenced by local regulations and healthcare systems. In some countries, pharmacies are allowed to dispense prescription eyeglasses and contact lenses, while in others, customers need to visit an optometrist for a prescription. This variation in regulations can impact the availability and accessibility of eye care products in different G20 countries. Additionally, the level of competition in the market can vary, with some countries having a higher concentration of pharmacies compared to others.
Underlying macroeconomic factors: The growth of the Eye Care (Pharmacies) market in G20 countries is also influenced by underlying macroeconomic factors. As disposable incomes rise in many G20 countries, customers have more purchasing power to spend on eye care products and services. Additionally, the aging population in some G20 countries is driving increased demand for eye care, as older individuals are more likely to experience age-related eye conditions. Furthermore, advancements in technology and healthcare infrastructure are making eye care more accessible and affordable, further fueling market growth. In conclusion, the Eye Care (Pharmacies) market in G20 countries is experiencing growth due to increasing customer preferences for convenient and accessible eye care products and services. The rising demand for contact lenses and specialized eye care products, along with local regulations and macroeconomic factors, are driving the development of this 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.
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