Eye Care (Pharmacies) - United Kingdom

United Kingdom

Highlights

Revenue in the Eye Care market is projected to reach US$120.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.88%, resulting in a market volume of US$152.50m 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$1.77 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care (Pharmacies) market in United Kingdom has been experiencing steady growth in recent years, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Eye Care (Pharmacies) market in United Kingdom have been shifting towards a greater emphasis on preventive eye care. Customers are becoming more aware of the importance of regular eye exams and are seeking out products and services that can help maintain good eye health. This has led to an increased demand for products such as contact lenses, eye drops, and vitamins specifically designed to support eye health. Trends in the market have also played a role in the development of the Eye Care (Pharmacies) market in United Kingdom. One key trend is the rise of online shopping for eye care products. Customers are increasingly turning to online retailers for their eye care needs, attracted by the convenience and competitive prices offered by online platforms. This trend has prompted traditional brick-and-mortar pharmacies to adapt their strategies and invest in their online presence to remain competitive. Another trend in the market is the growing popularity of natural and organic eye care products. Customers are becoming more conscious of the ingredients used in their eye care products and are seeking out natural alternatives. This has created opportunities for companies that specialize in natural and organic eye care products, as well as for traditional brands that have expanded their product offerings to include natural options. Local special circumstances in the United Kingdom have also influenced the development of the Eye Care (Pharmacies) market. The country has a well-established healthcare system that provides access to eye care services for its population. This has created a favorable environment for the growth of the Eye Care (Pharmacies) market, as customers have easy access to professional advice and prescriptions for their eye care needs. Underlying macroeconomic factors have also played a role in the development of the Eye Care (Pharmacies) market in United Kingdom. The country has a stable economy with a high standard of living, which has allowed consumers to allocate a larger portion of their income towards healthcare, including eye care. Additionally, an aging population and increased awareness of eye health have contributed to the growth of the market. Overall, the Eye Care (Pharmacies) market in United Kingdom is developing in response to customer preferences for preventive eye care, trends in the market such as online shopping and natural products, local special circumstances that provide access to eye care services, and underlying macroeconomic factors that support increased spending on healthcare.

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.