Eye Care (Pharmacies) - Gambia

Gambia

Highlights

Revenue in the Eye Care market is projected to reach US$52.82k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.54%, resulting in a market volume of US$62.86k 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 Gambia has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: Customers in Gambia have shown a growing interest in eye care products and services, leading to an increased demand for eye care products in pharmacies. This can be attributed to a greater awareness of eye health and the importance of regular eye check-ups. Additionally, the rise in the aging population has also contributed to the increased demand for eye care products, as older individuals are more likely to experience vision problems and require specialized eye care.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Gambia is the growing popularity of contact lenses. Contact lenses offer a convenient and comfortable alternative to traditional eyeglasses, and they are increasingly being preferred by individuals who want to correct their vision without the need for wearing glasses. This trend is driven by advancements in contact lens technology, which have made them more comfortable and easier to use. Another trend in the market is the increasing availability of specialized eye care products in pharmacies. Pharmacies in Gambia are expanding their range of eye care products to cater to the diverse needs of customers. This includes products such as eye drops, ointments, and supplements that target specific eye conditions, such as dry eyes or age-related macular degeneration.

Local special circumstances: Gambia has a high prevalence of eye diseases and vision problems, such as cataracts and refractive errors. This has created a significant demand for eye care services and products in the country. Additionally, the lack of access to specialized eye care facilities in rural areas has led to an increased reliance on pharmacies for basic eye care needs. Pharmacies play a crucial role in providing affordable and accessible eye care products to the population.

Underlying macroeconomic factors: The growth of the Eye Care (Pharmacies) market in Gambia is also influenced by underlying macroeconomic factors. The country has been experiencing steady economic growth in recent years, which has increased disposable incomes and improved access to healthcare services. As a result, more individuals are able to afford eye care products and services, leading to an increase in demand. In conclusion, the Eye Care (Pharmacies) market in Gambia is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The increasing demand for eye care products and services is driven by a greater awareness of eye health, the popularity of contact lenses, the availability of specialized eye care products in pharmacies, and the high prevalence of eye diseases in the country.

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.