Market Insights Health Pharmacies OTC Products

Eye Care (Pharmacies) - Turkey

Turkey

Revenue in the Eye Care market is projected to reach US$1.49m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.55%, resulting in a market volume of US$1.69m 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 Turkey has been experiencing significant growth in recent years.

Customer preferences: Customers in the Eye Care (Pharmacies) market in Turkey have shown a strong preference for products that address common eye health issues such as dryness, redness, and irritation. They are also increasingly seeking products that offer convenience and ease of use, such as preservative-free eye drops and contact lens solutions. Additionally, there is a growing demand for products that provide long-lasting relief and are suitable for sensitive eyes.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Turkey is the increasing adoption of digital technology. This includes the use of online platforms and mobile applications for purchasing eye care products, as well as the integration of digital tools into the diagnosis and treatment of eye conditions. This trend is driven by the convenience and accessibility that digital platforms offer, as well as the ability to access a wider range of products and services. Another trend in the market is the growing awareness and importance of preventive eye care. Consumers are becoming more proactive in taking care of their eye health and are seeking products that can help prevent eye problems before they occur. This includes the use of supplements and vitamins that promote eye health, as well as regular eye examinations and screenings.

Local special circumstances: Turkey has a large population and a high prevalence of eye-related conditions such as dry eye syndrome and myopia. This creates a significant demand for eye care products and services, driving the growth of the Eye Care (Pharmacies) market. Additionally, Turkey has a well-established healthcare system with a strong network of pharmacies, making it easy for consumers to access eye care products.

Underlying macroeconomic factors: The growth of the Eye Care (Pharmacies) market in Turkey is also influenced by macroeconomic factors such as the increasing disposable income of consumers and the growing middle class. As people have more money to spend on healthcare, they are willing to invest in high-quality eye care products. Furthermore, the aging population in Turkey is also contributing to the growth of the market, as older individuals are more likely to experience eye problems and require eye care products and services. In conclusion, the Eye Care (Pharmacies) market in Turkey is experiencing significant growth due to customer preferences for products that address common eye health issues and offer convenience. The market is also influenced by trends such as the adoption of digital technology and the focus on preventive eye care. Local special circumstances, such as the high prevalence of eye-related conditions and the well-established healthcare system, further contribute to the growth of the market. Additionally, underlying macroeconomic factors such as increasing disposable income and an aging population are driving the demand for eye care products and services in Turkey.

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.