Market Insights Health OTC Pharmaceuticals

Eye Care - New Zealand

New Zealand

In New Zealand, the revenue in the Eye Care market market in 2024 is estimated to be US$8.89m.
It is projected to experience an annual growth rate of 3.23% (CAGR 2024-2029).
When compared globally, the in the United States leads the market with a revenue of US$1,256.00m in 2024.
Looking at the per capita figures, in 2024, each person in New Zealand generates a revenue of US$1.69.
New Zealand's Eye Care market is seeing a rise in demand for natural and organic products, driven by the country's preference for sustainable and eco-friendly options.

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

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Analyst Opinion

The Eye Care market in New Zealand is experiencing significant growth and development in recent years.

Customer preferences: Customers in New Zealand are increasingly prioritizing their eye health and seeking out products and services that can help them maintain good vision. This is driven by a growing awareness of the importance of regular eye examinations and the impact that eye health can have on overall well-being. As a result, there is a rising demand for eyeglasses, contact lenses, and other vision correction products. Additionally, there is a growing interest in preventative eye care, with customers looking for products that can protect their eyes from harmful UV rays and blue light emitted by digital screens.

Trends in the market: One of the key trends in the Eye Care market in New Zealand is the increasing popularity of online retail channels. Customers are increasingly turning to online platforms to purchase eyewear and other eye care products. This trend is driven by the convenience and wide range of options available online, as well as the ability to compare prices and read reviews. Online retailers are capitalizing on this trend by offering virtual try-on tools and personalized recommendations based on customers' preferences and prescription information.Another trend in the market is the growing demand for eco-friendly and sustainable eye care products. Customers in New Zealand are becoming more conscious of the environmental impact of their purchases and are seeking out products that are made from recycled materials or are biodegradable. This trend is particularly evident in the contact lens market, where there is a growing interest in daily disposable lenses that reduce waste compared to traditional monthly lenses.

Local special circumstances: New Zealand's unique geography and climate also play a role in shaping the Eye Care market. The country's high levels of UV radiation, particularly in summer months, have led to a strong emphasis on UV protection in eyewear. Customers are increasingly looking for sunglasses and prescription glasses that offer high levels of UV protection to safeguard their eyes from the sun's harmful rays. Additionally, New Zealand's outdoor lifestyle and love for sports and outdoor activities have contributed to a demand for specialized eyewear that can withstand rugged conditions and offer enhanced performance.

Underlying macroeconomic factors: The growing Eye Care market in New Zealand can be attributed to several macroeconomic factors. The country's strong economy and rising disposable incomes have allowed consumers to allocate more of their budget towards eye care products and services. Additionally, an aging population and a higher prevalence of eye conditions such as myopia and presbyopia have contributed to the increased demand for vision correction products. The government's focus on healthcare and the promotion of regular eye examinations have also played a role in driving the growth of the Eye Care market in New Zealand.

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.