Eye Care (Pharmacies) - Ukraine

Ukraine

Highlights

Revenue in the Eye Care market is projected to reach US$22.25m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.13%, resulting in a market volume of US$25.95m 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$0.59 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Customers in Ukraine 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 well-being. As a result, there is a rising demand for a wide range of eye care products, including prescription glasses, contact lenses, and over-the-counter solutions for common eye conditions.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Ukraine is the increasing availability and accessibility of eye care products and services. Pharmacies are expanding their offerings to include a wider range of eye care products, making it easier for customers to find what they need. Additionally, there is a growing number of specialized eye care clinics and optometry centers that provide comprehensive eye exams and personalized vision correction solutions. Another trend is the adoption of innovative technologies in the field of eye care. This includes the use of advanced diagnostic tools and equipment to accurately assess eye health and detect early signs of vision problems. Additionally, there is a growing interest in digital solutions for vision correction, such as online vision tests and telemedicine consultations with eye care professionals.

Local special circumstances: Ukraine has a large population, and the prevalence of vision problems is relatively high. This creates a significant market opportunity for eye care products and services. Additionally, the country has a well-established healthcare system, with pharmacies playing a crucial role in providing access to essential medications and healthcare products. This makes pharmacies a convenient and trusted channel for customers to purchase eye care products.

Underlying macroeconomic factors: The Eye Care (Pharmacies) market in Ukraine is also influenced by several macroeconomic factors. The country has been experiencing steady economic growth, which has contributed to an increase in disposable income and consumer spending power. As a result, more people are able to afford eye care products and services, driving market growth. Furthermore, the aging population in Ukraine is also contributing to the growth of the Eye Care (Pharmacies) market. As people age, the risk of developing vision problems increases, leading to a higher demand for eye care products and services. This demographic trend is expected to continue in the coming years, further fueling market growth. In conclusion, the Eye Care (Pharmacies) market in Ukraine is witnessing significant growth and development. Customer preferences for eye care products and services are driving market demand, while the adoption of innovative technologies is shaping the industry. Local special circumstances, such as the large population and well-established healthcare system, contribute to the market's growth potential. Additionally, underlying macroeconomic factors, including economic growth and an aging population, further support the expansion 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.