Eye Care (Pharmacies) - Mexico

Mexico

Highlights

Revenue in the Eye Care market is projected to reach US$43.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.67%, resulting in a market volume of US$47.68m 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$0.34 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Mexican consumers have become increasingly aware of the importance of eye health and are seeking out products and services to help maintain good vision. This has led to a growing demand for eye care products and services in the country. Additionally, with the aging population in Mexico, there is a greater need for eye care products to address age-related vision issues such as presbyopia and cataracts.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Mexico is the increasing popularity of contact lenses. Contact lenses offer a convenient and comfortable alternative to traditional eyeglasses, and many consumers are opting for this option. Additionally, there is a growing demand for specialty contact lenses, such as those designed for astigmatism or multifocal lenses. This trend is driven by the desire for improved vision correction and the increasing availability of these products in pharmacies. Another trend in the market is the rising demand for over-the-counter (OTC) eye care products. These products, such as artificial tears and eye drops, are easily accessible and affordable, making them popular among consumers. The convenience of being able to purchase these products at pharmacies without a prescription has contributed to their growing popularity.

Local special circumstances: Mexico has a large population, which provides a significant customer base for the Eye Care (Pharmacies) market. Additionally, the country has a well-established network of pharmacies, making it easy for consumers to access eye care products and services. This accessibility has contributed to the growth of the market.

Underlying macroeconomic factors: The growing middle class in Mexico has led to increased purchasing power among consumers. As a result, more people are able to afford eye care products and services, driving the growth of the market. Additionally, the Mexican government has implemented policies to improve access to healthcare, including eye care services. This has further contributed to the growth of the Eye Care (Pharmacies) market in Mexico. In conclusion, the Eye Care (Pharmacies) market in Mexico is experiencing significant growth due to increasing customer awareness of the importance of eye health, the growing demand for contact lenses and over-the-counter eye care products, the large population and well-established pharmacy network in the country, and the underlying macroeconomic factors such as the growing middle class and government policies to improve access to healthcare.

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.