Market Insights Health OTC Pharmaceuticals

Eye Care - Southern Europe

Southern Europe

In Southern Europe, the revenue generated in the Eye Care market market is estimated to reach US$313.20m in 2024.
It is projected to experience an annual growth rate of 2.25% (CAGR 2024-2029).
When compared globally, the in the United States leads with a revenue of US$1,256.00m in 2024.
In terms of per capita revenue, each person in Southern Europe is expected to generate US$1.32 in 2024.
The eye care market in Southern Europe is seeing a growing demand for natural and organic products.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Eye Care market in Southern Europe is experiencing steady growth due to various factors such as changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.Customer preferences in the Eye Care market in Southern Europe have shifted towards a greater emphasis on preventive eye care and the use of natural and organic products. Consumers are becoming more conscious about their eye health and are willing to invest in high-quality products that offer long-term benefits. This shift in preferences is driven by increasing awareness about the importance of maintaining good eye health and the desire to avoid potential eye problems in the future.Trends in the market include the rising popularity of online retail channels for purchasing eye care products. Southern European consumers are increasingly turning to e-commerce platforms to conveniently purchase a wide range of eye care products, including contact lenses, glasses, and eye drops. Online retail offers a greater variety of products, competitive prices, and the convenience of doorstep delivery, which appeals to busy consumers.Local special circumstances, such as the high prevalence of myopia in Southern Europe, also contribute to the growth of the Eye Care market. Myopia, or nearsightedness, is a common eye condition in the region, and as a result, there is a high demand for corrective eyewear such as glasses and contact lenses. Additionally, the aging population in Southern Europe is driving the demand for eye care products specifically designed for older individuals, such as presbyopia-correcting contact lenses and specialized eye drops for age-related conditions.Underlying macroeconomic factors, such as increasing disposable income and a growing middle class, are fueling the growth of the Eye Care market in Southern Europe. As the economy improves, consumers have more purchasing power to invest in eye care products and services. This has led to increased spending on premium eye care products and a willingness to pay for innovative solutions that address specific eye care needs.In conclusion, the Eye Care market in Southern Europe is witnessing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Consumers are increasingly prioritizing preventive eye care, online retail channels are gaining popularity, and the high prevalence of myopia and aging population contribute to the demand for eye care products. The improving economy and increasing disposable income further drive the growth of the market.

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.