Eye Care (Pharmacies) - United Arab Emirates

United Arab Emirates

Highlights

Revenue in the Eye Care market is projected to reach US$3.68m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.40%, resulting in a market volume of US$4.14m 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$0.38 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care (Pharmacies) market in United Arab Emirates is witnessing significant growth and development due to various factors.

Customer preferences: Customers in the United Arab Emirates are increasingly becoming conscious about their eye health and are seeking out eye care products and services. This is driven by a growing awareness about the importance of eye health and the increasing prevalence of eye-related issues such as myopia, presbyopia, and dry eye syndrome. Customers are looking for a wide range of eye care products, including contact lenses, eye drops, and prescription eyewear, to address their specific needs.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in United Arab Emirates is the rising demand for contact lenses. Contact lenses are gaining popularity among consumers as they provide convenience and freedom from wearing traditional eyeglasses. Additionally, advancements in contact lens technology, such as the development of silicone hydrogel lenses and daily disposable lenses, have further fueled the demand. Customers are also increasingly opting for colored contact lenses as a fashion statement. Another trend in the market is the growing demand for natural and organic eye care products. Customers are becoming more conscious about the ingredients used in eye care products and are seeking out products that are free from harmful chemicals and preservatives. This trend is in line with the overall shift towards natural and organic products in the beauty and personal care industry.

Local special circumstances: The United Arab Emirates has a high prevalence of dry eye syndrome, which is a common eye condition characterized by dryness, irritation, and discomfort. This can be attributed to the arid climate and high levels of air conditioning prevalent in the region. As a result, there is a high demand for eye drops and other products that provide relief from dry eyes. Pharmacies in the United Arab Emirates are well-positioned to cater to this demand and offer a wide range of eye care products.

Underlying macroeconomic factors: The Eye Care (Pharmacies) market in United Arab Emirates is also influenced by macroeconomic factors such as population growth, increasing disposable income, and urbanization. The country has a growing population, including a significant expatriate population, which contributes to the overall demand for eye care products and services. Rising disposable income levels enable consumers to afford premium eye care products and services. Additionally, urbanization is leading to lifestyle changes, including increased screen time and exposure to environmental factors that can impact eye health, thereby driving the demand for eye care products. In conclusion, the Eye Care (Pharmacies) market in United Arab Emirates is experiencing growth and development due to customer preferences for a wide range of eye care products, including contact lenses and natural/organic products. The local special circumstance of a high prevalence of dry eye syndrome further drives the demand for eye drops and other relief products. Underlying macroeconomic factors such as population growth, increasing disposable income, and urbanization also contribute to the growth 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.