Market Insights Health OTC Pharmaceuticals

Eye Care - G7

In 2024, the Eye Care market market in G7 generated a revenue of US$3.02bn.
It is projected to experience an annual growth rate of 2.40% (CAGR 2024-2029).
When compared to other countries globally, the in the United States leads in terms of revenue generation, with US$1,256.00m in 2024.
In relation to the total population, per person revenues in G7 amounted to US$3.87 in 2024.
The United States is experiencing a surge in demand for over-the-counter eye care products, driven by an aging population and increasing screen time.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Eye Care market in G7 countries has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.Customer preferences in the Eye Care market have shifted towards a greater emphasis on preventative care and overall eye health. Consumers are becoming more aware of the importance of regular eye exams and are seeking out products and services that can help maintain good vision. This shift in preferences has led to an increase in demand for eyeglasses, contact lenses, and other vision correction products.Trends in the market indicate a growing demand for innovative and technologically advanced eye care products. For example, there has been a rise in the popularity of smart glasses and contact lenses that can monitor and track eye health. Additionally, the use of telemedicine and online eye exams has become more prevalent, allowing consumers to access eye care services from the comfort of their own homes.Local special circumstances within G7 countries have also played a role in the development of the Eye Care market. For instance, an aging population in many G7 countries has led to an increased demand for vision correction products and services. Additionally, the prevalence of digital devices and screens has resulted in a higher incidence of eye strain and other vision-related issues, driving the need for eye care solutions.Underlying macroeconomic factors have further contributed to the growth of the Eye Care market in G7 countries. Rising disposable incomes and increasing healthcare expenditure have made eye care products and services more affordable and accessible to a larger portion of the population. Furthermore, advancements in manufacturing and distribution processes have made eye care products more readily available in the market.In conclusion, the Eye Care market in G7 countries is experiencing growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards preventative care, demand for innovative products, an aging population, and rising disposable incomes have all contributed to the development of this market. As these factors continue to evolve, the Eye Care market in G7 countries is expected to expand further in the coming years.

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.