Market Insights Health OTC Pharmaceuticals

Eye Care - Americas

Americas

In the year 2024, the Eye Care market market in the Americas is projected to generate a revenue of US$1.72bn.
It is anticipated that the market will experience an annual growth rate of 2.22% between 2024 and 2029, as measured by the compound annual growth rate (CAGR).
Among all countries, the in the United States stands out as the top revenue generator with US$1,256.00m in 2024.
When considering the total population, the per person revenue in the Americas is estimated to be US$1.69 in 2024.
In the Americas, there is a growing trend in the Eye Care market for consumers to seek natural and organic products.

Key regions: Australia, Japan, Brazil, United States, Europe

Market

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Region comparison

Currency

Analyst Opinion

The Eye Care market in Americas is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.Customer preferences in the Eye Care market in Americas are shifting towards a greater emphasis on preventive eye care and overall eye health. Customers are becoming more conscious of the importance of regular eye exams and are seeking out products and services that can help them maintain good vision. Additionally, there is a growing demand for eyewear that combines fashion and functionality, with customers looking for stylish frames that also provide protection from harmful UV rays.Trends in the market are also driving the growth of the Eye Care market in Americas. One major trend is the increasing adoption of digital devices, such as smartphones and tablets, which has led to a rise in cases of digital eye strain. This has created a demand for products that can alleviate the symptoms of digital eye strain, such as blue light blocking glasses and eye drops. Another trend is the growing popularity of contact lenses, particularly among younger customers who are looking for a convenient and discreet alternative to traditional eyeglasses.Local special circumstances in the Americas, such as an aging population and high prevalence of chronic diseases like diabetes, are also contributing to the growth of the Eye Care market. As the population ages, the incidence of age-related eye conditions, such as cataracts and macular degeneration, is increasing. This has led to a greater demand for surgical procedures, such as cataract surgery and laser eye surgery, as well as for prescription medications to manage these conditions. Additionally, the high prevalence of diabetes in the region has resulted in a higher incidence of diabetic eye diseases, such as diabetic retinopathy, creating a need for specialized eye care services.Underlying macroeconomic factors, such as rising disposable incomes and increasing healthcare expenditure, are also driving the development of the Eye Care market in Americas. As disposable incomes increase, customers are willing to spend more on eye care products and services, including premium eyewear and advanced treatment options. In addition, governments and private healthcare providers are investing more in eye care infrastructure and services, leading to improved access to eye care for the population.In conclusion, the Eye Care market in Americas is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As customers become more conscious of preventive eye care and overall eye health, the market is witnessing a shift towards products and services that cater to these preferences. Additionally, trends such as the adoption of digital devices and the popularity of contact lenses are driving the demand for specific eye care products. Local special circumstances, such as an aging population and high prevalence of chronic diseases, further contribute to the growth of the market. Finally, underlying macroeconomic factors, including rising disposable incomes and increasing healthcare expenditure, are supporting the development of the Eye Care market in Americas.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.