Market Insights Health Pharmacies OTC Products

Eye Care (Pharmacies) - Mauritius

Mauritius

Revenue in the Eye Care market is projected to reach US$61.00k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.85%, resulting in a market volume of US$73.67k 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$0.05 are generated in 2024.

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

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Analyst Opinion

The Eye Care (Pharmacies) market in Mauritius is experiencing steady growth due to increasing customer preferences for eye health and the rising prevalence of eye-related disorders.

Customer preferences: Customers in Mauritius are becoming more aware of the importance of eye health and are taking proactive steps to maintain good vision. They are increasingly seeking out eye care products and services from pharmacies to address their eye-related concerns. This shift in customer preferences is driven by a growing understanding of the impact that eye health has on overall well-being. Additionally, customers are looking for convenience and accessibility when it comes to purchasing eye care products, making pharmacies a preferred choice.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Mauritius is the increasing demand for contact lenses. Contact lenses offer a convenient alternative to traditional eyeglasses, providing customers with the flexibility to engage in various activities without the restrictions of wearing glasses. This trend is driven by the desire for improved aesthetics and enhanced comfort. As a result, pharmacies are expanding their range of contact lens offerings to cater to this growing demand. Another trend in the market is the rising popularity of natural and organic eye care products. Customers are becoming more conscious about the ingredients used in their eye care products and are seeking out natural and organic options. This trend is in line with the broader global shift towards natural and sustainable products. Pharmacies are responding to this demand by stocking a wider range of natural and organic eye care products to cater to the evolving preferences of their customers.

Local special circumstances: Mauritius is a popular tourist destination, attracting visitors from around the world. This presents a unique opportunity for the Eye Care (Pharmacies) market, as tourists often require eye care products and services during their stay. Pharmacies in Mauritius are capitalizing on this by offering specialized services and products tailored to the needs of tourists, such as travel-sized eye drops and contact lens solutions. This niche market segment contributes to the overall growth of the Eye Care (Pharmacies) market in Mauritius.

Underlying macroeconomic factors: The Eye Care (Pharmacies) market in Mauritius is influenced by various macroeconomic factors. The country's growing middle class and increasing disposable income levels have resulted in higher healthcare expenditure, including eye care. Additionally, the aging population in Mauritius is driving the demand for eye care products and services, as age-related eye conditions become more prevalent. Furthermore, the government's focus on healthcare and wellness initiatives has created a supportive environment for the growth of the Eye Care (Pharmacies) market. In conclusion, the Eye Care (Pharmacies) market in Mauritius is witnessing growth due to customer preferences for eye health, the increasing demand for contact lenses, the popularity of natural and organic eye care products, the unique opportunities presented by tourism, and underlying macroeconomic factors such as rising disposable income and an aging population.

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.