Eye Care (Pharmacies) - Jordan

  • Jordan
  • Revenue in the Eye Care market is projected to reach US$5.07m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.08%, resulting in a market volume of US$5.90m by 2029.
  • In global comparison, most revenue will be generated in Japan (US$904.40m in 2024).
  • In relation to total population figures, per person revenues of US$0.44 are generated in 2024.

Key regions: Canada, Europe, India, Australia, South Korea

 
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Analyst Opinion

The Eye Care (Pharmacies) market in Jordan has been experiencing significant growth in recent years.

Customer preferences:
Customers in Jordan have shown a growing interest in eye care products and services. This can be attributed to several factors. Firstly, there is a rising awareness about the importance of eye health and the need for regular check-ups. As a result, more people are seeking out eye care solutions to address their vision problems. Secondly, the aging population in Jordan has led to an increase in the prevalence of age-related eye conditions, such as cataracts and macular degeneration. This has created a greater demand for eye care products and treatments. Lastly, the increasing use of digital devices, such as smartphones and computers, has contributed to an uptick in eye strain and related issues, prompting individuals to seek remedies.

Trends in the market:
One of the key trends in the Eye Care (Pharmacies) market in Jordan is the growing popularity of over-the-counter (OTC) eye care products. These products, such as eye drops and lubricants, are easily accessible and affordable, making them a convenient choice for consumers. In addition, there has been a surge in the demand for prescription eyewear, including glasses and contact lenses. This can be attributed to the increasing prevalence of refractive errors, such as myopia and astigmatism, among the population. As a result, opticians and optical stores have seen a boost in sales. Another trend in the market is the emergence of specialized eye care clinics and centers. These facilities offer a wide range of services, including comprehensive eye exams, surgical procedures, and treatment for various eye conditions. The presence of these specialized providers has not only improved access to quality eye care but has also contributed to the overall growth of the market.

Local special circumstances:
Jordan has a well-developed healthcare system, which includes a strong network of pharmacies and medical facilities. This infrastructure has played a crucial role in the growth of the Eye Care (Pharmacies) market. Pharmacies in Jordan are easily accessible to the general population, making it convenient for individuals to purchase eye care products and medications. Moreover, the presence of trained pharmacists in these pharmacies allows for proper guidance and recommendations regarding eye care treatments.

Underlying macroeconomic factors:
The Eye Care (Pharmacies) market in Jordan is also influenced by several macroeconomic factors. The country's stable economic growth and increasing disposable income have contributed to the affordability of eye care products and services. As a result, individuals are more willing to invest in their eye health. Furthermore, the government's focus on improving healthcare infrastructure and services has led to the expansion of eye care facilities and the availability of advanced treatments. This has further fueled the growth of the market. In conclusion, the Eye Care (Pharmacies) market in Jordan is experiencing significant growth due to customer preferences, such as the increasing awareness of eye health and the aging population. The market is witnessing trends such as the popularity of OTC eye care products and the emergence of specialized eye care clinics. The local special circumstances, including the well-developed healthcare system and accessible pharmacies, have also contributed to the growth. Additionally, the stable economic growth and government initiatives in the healthcare sector have played a role in the market's expansion.

Methodology

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.

Overview

  • Revenue
  • Analyst Opinion
  • Global Comparison
  • Methodology
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