Market Insights Health OTC Pharmaceuticals

Eye Care - GCC

In 2024, the Eye Care market market in the GCC region is projected to generate a revenue of US$27.88m.
It is anticipated to experience an annual growth rate of 2.33% (CAGR 2024-2029).
When compared to other countries globally, the in the United States is responsible for the majority of the revenue, with a staggering US$1,256.00m generated in 2024.
This translates to per person revenues of US$0.46 in 2024 when considered in relation to the total population figures.
In the GCC, the eye care market is witnessing a surge in demand for innovative contact lens solutions.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Eye Care market in GCC is experiencing significant growth and development due to several key factors. Customer preferences for high-quality eye care services and products, along with the increasing prevalence of eye-related conditions, are driving the demand for eye care in the region. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the growth of the market.Customer preferences in the GCC region are shifting towards a greater emphasis on eye health and wellness. With the increasing awareness about the importance of regular eye check-ups and the availability of advanced eye care technologies, consumers are seeking out comprehensive eye care services. This includes not only vision correction through eyeglasses and contact lenses but also treatments for various eye conditions such as cataracts, glaucoma, and refractive errors. As a result, eye care providers are expanding their services to cater to these evolving customer preferences.One of the key trends in the Eye Care market in GCC is the growing demand for laser eye surgery. Laser eye surgery, such as LASIK, has gained popularity among consumers looking for a permanent solution to their vision problems. This trend is driven by the advancements in laser technology, which have made the procedure safer and more effective. Additionally, the convenience and cost-effectiveness of laser eye surgery compared to long-term use of eyeglasses or contact lenses are attracting a growing number of customers.Another trend in the market is the increasing adoption of digital eye care solutions. With the rise of technology and digital devices, individuals are spending more time in front of screens, which can lead to eye strain and other related issues. As a result, there is a growing demand for products and services that address these concerns, such as blue light-blocking glasses and eye exercises. Eye care providers are responding to this trend by offering specialized services and products to cater to the digital eye care needs of their customers.Local special circumstances in the GCC region, such as the high prevalence of diabetes and the hot climate, contribute to the growth of the Eye Care market. Diabetes is a major risk factor for various eye conditions, including diabetic retinopathy and cataracts. The high prevalence of diabetes in the GCC region has led to an increased demand for diabetic eye care services. Additionally, the hot climate in the region can lead to dry eyes, making eye care services and products essential for maintaining eye health.Underlying macroeconomic factors, such as population growth, urbanization, and increasing disposable income, are also driving the development of the Eye Care market in GCC. With a growing population and increasing urbanization, there is a larger customer base for eye care services and products. Additionally, rising disposable income levels enable individuals to afford higher-quality eye care services and products, further fueling the market growth.In conclusion, the Eye Care market in GCC is experiencing significant growth and development due to customer preferences for high-quality eye care services and products, the increasing prevalence of eye-related conditions, local special circumstances, and underlying macroeconomic factors. As customer awareness about the importance of eye health continues to grow and advancements in eye care technologies are made, the market is expected to further expand 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.