Eye Care (Pharmacies) - Pakistan

Pakistan

Highlights

Revenue in the Eye Care market is projected to reach US$60.29m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.12%, resulting in a market volume of US$73.80m 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$0.25 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care (Pharmacies) market in Pakistan is experiencing significant growth and development.

Customer preferences: Customers in Pakistan are increasingly prioritizing their eye health and seeking out products and services to address their vision needs. This is driven by a growing awareness of the importance of eye care and the impact it can have on overall health and quality of life. As a result, there is a rising demand for a wide range of eye care products and services, including prescription eyewear, contact lenses, and over-the-counter treatments for common eye conditions.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Pakistan is the increasing popularity of online shopping for eye care products. With the rise of e-commerce platforms and the convenience they offer, more and more customers are choosing to purchase their eye care products online. This trend is driven by factors such as competitive pricing, a wider product selection, and the ability to compare products and read customer reviews. Another trend in the market is the growing demand for innovative and technologically advanced eye care products. Customers are increasingly seeking out products that offer enhanced comfort, improved vision correction, and additional features such as UV protection and blue light filtering. This trend is fueled by advancements in technology and a desire for products that can address specific eye care needs.

Local special circumstances: Pakistan has a large population, which presents a significant market opportunity for the Eye Care (Pharmacies) industry. The country's population is also relatively young, with a high proportion of individuals in their prime working and spending years. This demographic profile contributes to the growing demand for eye care products and services, as younger individuals are more likely to prioritize their health and well-being. Additionally, Pakistan has a high prevalence of certain eye conditions, such as cataracts and myopia. This creates a need for specialized eye care products and services to address these conditions. Pharmacies play a crucial role in providing access to these products and services, making them an important player in the Eye Care market.

Underlying macroeconomic factors: The Eye Care (Pharmacies) market in Pakistan is also influenced by underlying macroeconomic factors. The country's economy has been growing steadily in recent years, leading to an increase in disposable income and consumer spending. This has a positive impact on the Eye Care (Pharmacies) market, as customers have more financial resources to invest in their eye health. Furthermore, the government of Pakistan has been taking steps to improve access to healthcare services, including eye care. This includes initiatives to increase the number of healthcare facilities and improve the quality of care provided. These efforts contribute to the development of the Eye Care (Pharmacies) market by creating a favorable environment for the growth of the industry. In conclusion, the Eye Care (Pharmacies) market in Pakistan is experiencing growth and development due to increasing customer preferences for eye care products, trends such as online shopping and demand for innovative products, local special circumstances such as a large population and high prevalence of certain eye conditions, and underlying macroeconomic factors such as economic growth and government initiatives to improve access to healthcare services.

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.