Eye Care (Pharmacies) - NAFTA

NAFTA

Highlights

Revenue in the Eye Care market is projected to reach US$1.05bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.99%, resulting in a market volume of US$1.16bn 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$2.05 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care (Pharmacies) market in NAFTA is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory. Customer preferences in the Eye Care (Pharmacies) market in NAFTA are shifting towards a greater emphasis on preventive care and overall wellness. Consumers are becoming more proactive in taking care of their eye health, leading to increased demand for products such as contact lenses, eye drops, and vitamins specifically formulated for eye health. This trend is driven by a growing awareness of the importance of maintaining good eye health and preventing vision problems. Trends in the market are also driving the growth of the Eye Care (Pharmacies) market in NAFTA. One significant trend is the increasing prevalence of digital devices in everyday life. With more people spending extended periods of time in front of screens, there is a higher risk of eye strain and other vision-related issues. This has led to a surge in demand for products that alleviate eye strain, such as blue light blocking glasses and lubricating eye drops. Additionally, the aging population in NAFTA countries is driving demand for products that address age-related vision problems, such as presbyopia. Local special circumstances in NAFTA countries are also contributing to the growth of the Eye Care (Pharmacies) market. For example, in the United States, the prevalence of chronic conditions such as diabetes and hypertension is increasing, both of which can have a negative impact on eye health. This has resulted in a higher demand for eye care products and services. In Canada, the government has implemented policies to increase access to eye care services, leading to a greater demand for products such as prescription eyewear and contact lenses. Underlying macroeconomic factors are also playing a role in the development of the Eye Care (Pharmacies) market in NAFTA. The overall economic growth in the region has led to an increase in disposable income, allowing consumers to spend more on eye care products and services. Additionally, advancements in technology and innovation have made eye care products more accessible and affordable, further driving market growth. In conclusion, the Eye Care (Pharmacies) market in NAFTA is experiencing growth and development due to shifting customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As consumers become more proactive in taking care of their eye health and as the prevalence of digital devices and age-related vision problems increases, the demand for eye care products and services will continue to rise.

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.