Key regions: Canada, Europe, India, Australia, South Korea
The Eye Care (Pharmacies) market in Montenegro has been witnessing significant growth in recent years.
Customer preferences: Customers in Montenegro have been increasingly prioritizing their eye health and are seeking convenient and accessible solutions for their eye care needs. As a result, there has been a growing demand for eye care products and services in the country. Customers are looking for a wide range of products, including prescription glasses, contact lenses, and eye drops, which can be easily obtained from pharmacies. They also prefer pharmacies that offer professional advice and guidance on eye care.
Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Montenegro is the increasing adoption of online platforms for purchasing eye care products. Customers are now able to conveniently browse and purchase a wide range of eye care products online, which has significantly expanded their options and made the process more convenient. This trend has been driven by the increasing internet penetration in the country and the growing popularity of e-commerce platforms. Another trend in the market is the rising demand for premium and specialized eye care products. Customers are becoming more conscious about the quality and effectiveness of the products they use for their eye care. This has led to an increased demand for premium eyewear brands, specialized contact lenses, and advanced eye drops that target specific eye conditions. Pharmacies that offer a wide range of high-quality and specialized eye care products have been able to attract a larger customer base.
Local special circumstances: Montenegro is a popular tourist destination, attracting a large number of visitors every year. This has had a positive impact on the Eye Care (Pharmacies) market, as tourists often require eye care products and services during their stay. Pharmacies located in tourist areas have experienced increased footfall and sales, catering to both local residents and tourists.
Underlying macroeconomic factors: Montenegro has experienced steady economic growth in recent years, which has contributed to the development of the Eye Care (Pharmacies) market. With a growing middle class and increasing disposable income, customers are able to allocate a larger portion of their budget to eye care products and services. This has created a favorable market environment for the growth of the Eye Care (Pharmacies) market. In conclusion, the Eye Care (Pharmacies) market in Montenegro is witnessing growth due to customer preferences for convenient and accessible eye care solutions, the increasing adoption of online platforms for purchasing eye care products, the rising demand for premium and specialized eye care products, the impact of tourism on the market, and the overall positive macroeconomic factors 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.
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