Market Insights Health Pharmacies OTC Products

Eye Care (Pharmacies) - Sudan

Sudan

Revenue in the Eye Care market is projected to reach US$0.79m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.72%, resulting in a market volume of US$1.20m by 2029.
In global comparison, most revenue will be generated in Japan (US$904.40m in 2024).
In relation to total population figures, per person revenues of US$0.02 are generated in 2024.

Key regions: Canada, Europe, India, Australia, South Korea

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Analyst Opinion

The Eye Care (Pharmacies) market in Sudan has been experiencing significant growth in recent years.

Customer preferences: Customers in Sudan have shown a growing interest in eye care products and services. With the increasing awareness about the importance of eye health, people are more inclined towards taking preventive measures and seeking professional help when needed. This has led to a higher demand for eye care products such as contact lenses, eye drops, and prescription glasses. Additionally, there is a growing interest in cosmetic eye products, such as colored contact lenses, among the younger population.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Sudan is the rise of online sales. With the increasing penetration of internet and smartphone usage in the country, more people are turning to online platforms to purchase eye care products. This trend is driven by the convenience and competitive pricing offered by online retailers. Pharmacies and eye care clinics are also expanding their online presence to cater to this growing demand. Another trend in the market is the increasing number of eye care clinics and specialized optical centers. These facilities offer a wide range of services, including eye examinations, prescription glasses, and contact lens fittings. The presence of these clinics provides customers with easy access to professional eye care services, which in turn drives the demand for eye care products.

Local special circumstances: Sudan is a country with a high prevalence of eye diseases and vision impairments. This has created a need for accessible and affordable eye care services and products. The government and non-profit organizations have been working towards improving eye health in the country through initiatives such as free eye screenings and the distribution of subsidized eye care products. These efforts have contributed to the growth of the Eye Care (Pharmacies) market in Sudan.

Underlying macroeconomic factors: The overall economic development in Sudan has also played a role in the growth of the Eye Care (Pharmacies) market. As the country's economy has been improving, people have more disposable income to spend on healthcare, including eye care. Additionally, the increasing urbanization and changing lifestyles have led to a higher demand for eye care products and services. In conclusion, the Eye Care (Pharmacies) market in Sudan is witnessing significant growth due to the increasing customer preferences for eye care products and services, the rise of online sales, the establishment of specialized eye care clinics, the high prevalence of eye diseases in the country, and the overall economic development.

Methodology

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.