Eye Care (Pharmacies) - Niger | Statista Market Forecast

Revenue in the Eye Care market is projected to reach US$654.40k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.26%, resulting in a market volume of US$768.10k 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$0.02 are generated in 2024.

Definition:
The Eye Care market encompasses a diverse array of over-the-counter therapeutic and hygiene products specifically formulated to address minor eye dryness, irritation, and various discomforts and ailments. This category includes eye drops, eye ointments, and eye washes, all tailored to provide relief, moisture, and cleansing for the eyes. This market exclusively covers product sales through pharmacies.

Additional information:
The Eye Care market comprises revenues, average revenue per capita and average revenue per pharmacy. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Eye Drops
Eye Ointments
Eye Washes
Artificial Tears

Contact Lens Solutions
Contact Lens Cases
Contact Lens Cleaning Accessories
Cosmetic Products

The Eye Care (Pharmacies) market in Niger is experiencing steady growth due to increasing customer awareness about the importance of eye health and the availability of a wide range of eye care products in the market.

Customer preferences: Customers in Niger are increasingly prioritizing their eye health and are willing to invest in high-quality eye care products. They are becoming more aware of the potential risks and complications associated with poor eye health, such as vision loss and eye infections. As a result, they are seeking out products that can help prevent these issues and improve their overall eye health. This includes a variety of products such as contact lenses, eye drops, and prescription eyewear.

Trends in the market: One of the major trends in the Eye Care (Pharmacies) market in Niger is the increasing demand for contact lenses. Contact lenses offer convenience and flexibility compared to traditional eyeglasses, and customers are embracing this alternative. Additionally, there is a growing trend of customers seeking out specialized eye care products, such as those designed for dry eyes or allergies. This indicates a shift towards more personalized and targeted eye care solutions.

Local special circumstances: Niger has a relatively young population, with a significant portion of the population under the age of 30. This demographic trend has contributed to the growth of the Eye Care (Pharmacies) market, as younger individuals are more likely to prioritize their eye health and invest in eye care products. Additionally, the country has seen an increase in urbanization, which has led to a higher concentration of pharmacies and eye care clinics in urban areas. This accessibility has made it easier for customers to access eye care products and services.

Underlying macroeconomic factors: Niger is experiencing overall economic growth, which has resulted in an increase in disposable income for many individuals. This has allowed customers to allocate more of their budget towards healthcare and eye care products. Additionally, advancements in technology and manufacturing processes have made eye care products more affordable and accessible to a wider range of customers. These factors, combined with the growing awareness of the importance of eye health, are driving the growth of the Eye Care (Pharmacies) market in Niger.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.