Key regions: United Kingdom, Australia, India, Germany, China
The Eye Care (Pharmacies) market in Kenya is experiencing significant growth and development.
Customer preferences: Customers in Kenya are increasingly prioritizing their eye health and seeking convenient and accessible solutions. They are looking for a wide range of eye care products and services, including prescription glasses, contact lenses, and over-the-counter eye drops. Customers also value personalized advice and recommendations from knowledgeable pharmacists who can guide them in choosing the right products for their specific needs.
Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Kenya is the increasing demand for affordable and high-quality eyewear. With the rise in disposable income and urbanization, more people are able to afford eyewear and are willing to invest in fashionable and trendy frames. This trend is driving the growth of optical shops within pharmacies, as they provide a convenient one-stop solution for customers to get their eyes tested and purchase eyewear. Another trend in the market is the growing awareness and adoption of contact lenses. Contact lenses offer convenience and freedom for individuals who do not want to wear glasses on a daily basis. As more people become aware of the benefits of contact lenses, the demand for them is increasing. Pharmacies are capitalizing on this trend by offering a wide range of contact lenses and providing fitting services to ensure proper usage.
Local special circumstances: Kenya has a high prevalence of vision impairment and eye diseases, such as cataracts and glaucoma. This has created a pressing need for accessible and affordable eye care services. Pharmacies are filling this gap by offering eye examinations and partnering with eye care professionals to provide specialized services. Additionally, the government has implemented initiatives to improve eye health, such as the National Eye Care Program, which has increased the demand for eye care services in the country.
Underlying macroeconomic factors: The Eye Care (Pharmacies) market in Kenya is benefiting from several macroeconomic factors. The country's growing middle class and rising disposable income levels have led to increased spending on healthcare, including eye care. Additionally, urbanization and the expansion of shopping malls and retail spaces have provided opportunities for pharmacies to establish a presence and cater to the growing demand for eye care products and services. The government's focus on improving healthcare infrastructure and accessibility has also contributed to the development of the Eye Care (Pharmacies) market in Kenya. In conclusion, the Eye Care (Pharmacies) market in Kenya is experiencing growth and development due to customer preferences for convenient and accessible eye care solutions, the increasing demand for affordable eyewear and contact lenses, the high prevalence of vision impairment and eye diseases, and the underlying macroeconomic factors such as rising disposable income and government initiatives. This presents opportunities for pharmacies to expand their offerings and cater to the evolving needs of customers in the country.
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.
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