Eye Care (Pharmacies) - Morocco

Morocco

Highlights

Revenue in the Eye Care market is projected to reach US$12.61m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.36%, resulting in a market volume of US$14.88m 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$0.33 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care (Pharmacies) market in Morocco has been experiencing significant growth in recent years, driven by customer preferences for convenient and accessible eye care products and services.

Customer preferences: Customers in Morocco are increasingly seeking out eye care products and services that are easily accessible and convenient. This has led to a rise in the number of pharmacies offering a wide range of eye care products, including prescription glasses, contact lenses, and over-the-counter eye drops. Additionally, customers are showing a growing interest in natural and organic eye care products, as well as products that are specifically formulated for sensitive eyes.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Morocco is the increasing demand for prescription glasses. As the population ages and the prevalence of vision problems such as myopia and presbyopia increases, more and more people are in need of corrective eyewear. This trend is being further fueled by the growing awareness of the importance of regular eye examinations and the availability of affordable prescription glasses at pharmacies. Another trend in the market is the rising popularity of contact lenses. Contact lenses offer a convenient and discreet alternative to glasses, and many customers are opting for them for cosmetic reasons as well. The market is seeing an increasing variety of contact lens options, including daily disposables, extended wear lenses, and colored lenses.

Local special circumstances: Morocco has a relatively young population, with a large percentage of the population under the age of 30. This demographic trend is driving the demand for eye care products and services, as younger people are more likely to engage in activities that strain their eyes, such as prolonged screen time and exposure to harsh environmental conditions. Additionally, the increasing urbanization and modernization of the country have led to a higher prevalence of eye conditions such as dry eye syndrome and computer vision syndrome.

Underlying macroeconomic factors: The Eye Care (Pharmacies) market in Morocco is also influenced by underlying macroeconomic factors. The country has been experiencing steady economic growth, which has led to an increase in disposable income and a higher standard of living. As a result, more people are willing to spend on eye care products and services, including premium and specialized products. Furthermore, the government has been investing in healthcare infrastructure and promoting preventive healthcare, which has contributed to the growth of the eye care market. In conclusion, the Eye Care (Pharmacies) market in Morocco is growing due to customer preferences for convenient and accessible eye care products and services. The increasing demand for prescription glasses and contact lenses, as well as the young population and underlying macroeconomic factors, are driving the growth of the market.

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.