Eye Care (Pharmacies) - North America

North America

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 North America is experiencing steady growth due to increasing customer preferences for convenient access to eye care products and services.

Customer preferences: Customers in North America are increasingly seeking convenience and accessibility when it comes to eye care products and services. They prefer to purchase eye care products from pharmacies due to the convenience of having a wide range of products available in one location. Pharmacies also offer the advantage of having trained professionals who can provide guidance and recommendations on eye care products. Additionally, customers appreciate the ability to easily refill prescriptions and access eye care services such as eye exams and consultations at their local pharmacy.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in North America is the growing demand for contact lenses and solutions. Contact lenses provide a convenient and comfortable alternative to traditional eyeglasses, and customers are increasingly opting for them. Pharmacies are responding to this trend by expanding their range of contact lens options and offering services such as contact lens fittings and consultations. Another trend in the market is the increasing demand for natural and organic eye care products. Customers are becoming more conscious of the ingredients used in their eye care products and are seeking natural and organic alternatives. Pharmacies are stocking a wider variety of natural and organic eye care products to cater to this demand.

Local special circumstances: In North America, the aging population is a significant factor driving the growth of the Eye Care (Pharmacies) market. As the population ages, the prevalence of age-related eye conditions such as cataracts and macular degeneration increases. This has led to a higher demand for eye care products and services, including prescription medications and specialized eye care treatments. Pharmacies are well-positioned to cater to this demand by offering a range of products and services specifically targeted towards the aging population.

Underlying macroeconomic factors: The overall economic stability and high disposable income in North America contribute to the growth of the Eye Care (Pharmacies) market. Customers have the financial means to invest in high-quality eye care products and services, and pharmacies are able to meet this demand by offering a wide range of options at varying price points. Additionally, the well-established healthcare infrastructure in North America ensures that customers have access to eye care professionals and services, further 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.