Eye Care (Pharmacies) - United States

United States

Highlights

Revenue in the Eye Care market is projected to reach US$893.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.97%, resulting in a market volume of US$984.60m 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$2.61 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Eye Care (Pharmacies) market in United States has been witnessing significant growth in recent years.

Customer preferences: Customers in the United States have shown a growing interest in eye care products and services. With the increasing awareness about the importance of eye health, consumers are actively seeking out products that cater to their specific needs. This has led to a rise in demand for a wide range of eye care products, including contact lenses, eyeglasses, and over-the-counter eye drops. Additionally, customers are also looking for convenient and accessible eye care services, such as eye exams and prescription refills, which can be easily obtained at pharmacies.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in United States is the growing popularity of online retail channels. With the advent of e-commerce platforms, customers now have the option to purchase eye care products online, offering them convenience and a wider range of choices. This trend has been further accelerated by the COVID-19 pandemic, as consumers have increasingly turned to online shopping for their eye care needs. Pharmacies have also responded to this trend by expanding their online presence and offering home delivery services, ensuring that customers can access eye care products and services from the comfort of their homes. Another trend in the market is the increasing demand for innovative and technologically advanced eye care products. Customers are now looking for products that not only provide vision correction but also offer additional features such as UV protection, blue light filtering, and moisture retention. This has led to the introduction of new and improved eye care products in the market, including contact lenses with enhanced comfort and vision clarity, and eyeglasses with advanced lens coatings. Pharmacies are actively stocking these innovative products to meet the evolving needs and preferences of their customers.

Local special circumstances: The United States has a well-established healthcare system, which includes a strong network of pharmacies. Pharmacies in the country play a crucial role in providing accessible and affordable healthcare services, including eye care. This has contributed to the growth of the Eye Care (Pharmacies) market in United States, as customers trust and rely on their local pharmacies for their eye care needs. Additionally, the presence of well-known pharmacy chains and retail giants in the country has further boosted the market, as they have the resources and infrastructure to cater to a large customer base.

Underlying macroeconomic factors: The growth of the Eye Care (Pharmacies) market in United States can be attributed to several underlying macroeconomic factors. Firstly, the country has a large and aging population, which is more prone to eye-related issues and requires regular eye care. This demographic trend has created a consistent demand for eye care products and services. Secondly, the increasing disposable income of consumers in the United States has allowed them to allocate a larger portion of their budget towards healthcare, including eye care. This has resulted in higher spending on eye care products and services. Lastly, advancements in technology and healthcare infrastructure have made eye care more accessible and affordable, driving the growth of the market. In conclusion, the Eye Care (Pharmacies) market in United States is experiencing significant growth due to customer preferences for convenient and accessible eye care products and services, the increasing popularity of online retail channels, the demand for innovative and technologically advanced eye care products, the presence of a well-established healthcare system, and underlying macroeconomic factors such as the country's demographics and increasing disposable income.

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.