Market Insights Health Pharmacies OTC Products

Eye Care (Pharmacies) - Ireland

Ireland

Revenue in the Eye Care market is projected to reach US$11.47m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.14%, resulting in a market volume of US$12.00m by 2028.
In global comparison, most revenue will be generated in Japan (US$904.40m in 2024).
In relation to total population figures, per person revenues of US$2.25 are generated in 2024.

Key regions: United Kingdom, Australia, India, Germany, China

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Analyst Opinion

The Eye Care (Pharmacies) market in Ireland has been experiencing significant growth in recent years.

Customer preferences: Customers in Ireland are increasingly prioritizing their eye health and are seeking convenient and accessible solutions for their eye care needs. Pharmacies provide a convenient one-stop-shop for customers to purchase over-the-counter eye care products such as contact lens solutions, eye drops, and eye vitamins. This allows customers to easily access the products they need without the need for a prescription or a visit to a specialist.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Ireland is the increasing demand for contact lens solutions. With more people opting for contact lenses as a convenient and comfortable alternative to traditional eyeglasses, the need for contact lens solutions has also grown. Pharmacies have capitalized on this trend by offering a wide range of contact lens solutions from various brands, catering to the diverse needs and preferences of customers. Another trend in the market is the growing popularity of natural and organic eye care products. Customers are becoming more conscious about the ingredients used in the products they use, and this extends to eye care as well. Pharmacies in Ireland have responded to this trend by stocking natural and organic eye care products that are free from harsh chemicals and are gentle on the eyes. This allows customers to make more informed choices and prioritize their eye health.

Local special circumstances: Ireland has a high prevalence of eye conditions such as myopia and dry eye syndrome. This has contributed to the increased demand for eye care products in the country. Pharmacies play a crucial role in providing accessible solutions for these conditions, as customers can easily purchase eye drops and other products to alleviate their symptoms. Additionally, the aging population in Ireland has also led to an increased demand for eye care products, as older individuals are more likely to experience age-related eye conditions.

Underlying macroeconomic factors: The growing Eye Care (Pharmacies) market in Ireland can also be attributed to the country's strong economy and increasing disposable income. As the economy continues to grow, more individuals have the means to prioritize their eye health and invest in eye care products. Furthermore, the increasing awareness about the importance of eye health and the availability of a wide range of eye care products in pharmacies have also contributed to the market growth. In conclusion, the Eye Care (Pharmacies) market in Ireland is witnessing significant growth due to customer preferences for convenient and accessible eye care solutions, the increasing demand for contact lens solutions and natural/organic eye care products, the high prevalence of eye conditions, and the country's strong economy and increasing disposable income. Pharmacies in Ireland are well-positioned to cater to these trends and meet the growing demand for eye care products.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.