Eye Care (Pharmacies) - Taiwan

Taiwan

Highlights

Revenue in the Eye Care market is projected to reach US$15.69m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.25%, resulting in a market volume of US$17.54m 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$0.66 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care (Pharmacies) market in Taiwan has been experiencing steady growth in recent years.

Customer preferences: Customers in Taiwan have shown a growing interest in eye care products, including both prescription and over-the-counter solutions. This can be attributed to several factors, such as the increasing awareness of eye health and the rising prevalence of eye-related issues among the population. Additionally, the convenience of purchasing eye care products from pharmacies has also contributed to the preference for this channel.

Trends in the market: One notable trend in the Eye Care (Pharmacies) market in Taiwan is the increasing demand for contact lenses. As more people are opting for contact lenses as a vision correction method, the sales of contact lenses in pharmacies have been on the rise. This trend can be attributed to the convenience of purchasing contact lenses from pharmacies, as well as the availability of a wide range of options to suit different needs and preferences. Another trend in the market is the growing demand for natural and organic eye care products. Consumers in Taiwan are becoming more conscious about the ingredients used in the products they use, and this extends to eye care as well. As a result, there is a growing demand for eye care products that are free from harsh chemicals and are made from natural or organic ingredients. Pharmacies are catering to this demand by offering a variety of natural and organic eye care products.

Local special circumstances: Taiwan has a well-developed healthcare system, which includes a strong network of pharmacies. Pharmacies in Taiwan play a crucial role in providing healthcare products and services to the population. They are easily accessible and offer a wide range of products, including eye care solutions. This accessibility and availability of eye care products in pharmacies contribute to the growth of the Eye Care (Pharmacies) market in Taiwan.

Underlying macroeconomic factors: The growing economy of Taiwan has also played a role in the development of the Eye Care (Pharmacies) market. As the disposable income of the population increases, people are more willing to spend on healthcare products, including eye care. Additionally, the aging population in Taiwan has also contributed to the growth of the market, as older individuals are more likely to require eye care products and services. Overall, the Eye Care (Pharmacies) market in Taiwan is experiencing growth due to customer preferences for convenient access to a wide range of eye care products, increasing demand for contact lenses, and the growing interest in natural and organic eye care solutions. The well-developed healthcare system and the country's strong economy are also factors contributing to the market's development.

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.