Key regions: United Kingdom, Australia, India, Germany, China
The Eye Care (Pharmacies) market in Southeast Asia is experiencing significant growth and development.
Customer preferences: Customers in Southeast Asia are becoming increasingly aware of the importance of eye health and are seeking out products and services that can help them maintain good vision. They are also becoming more conscious of the potential risks and complications associated with eye conditions such as myopia and cataracts. As a result, they are more likely to visit pharmacies to purchase eye care products and seek professional advice from pharmacists.
Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Southeast Asia is the growing demand for contact lenses. Contact lenses are preferred by many customers due to their convenience and cosmetic appeal. Additionally, the prevalence of digital devices and long hours of screen time have contributed to an increase in eye strain and dryness, leading to a higher demand for products that can alleviate these symptoms. This has resulted in a surge in sales of eye drops and lubricants in the region. Another trend in the market is the rising popularity of natural and organic eye care products. Customers are becoming more conscious of the ingredients used in the products they use and are seeking out natural alternatives. This trend is driven by a desire for safer and more sustainable options, as well as a growing awareness of the potential side effects of certain chemicals used in eye care products.
Local special circumstances: In some countries in Southeast Asia, such as Singapore and Malaysia, the government has implemented initiatives to raise awareness about eye health and encourage regular eye check-ups. These initiatives have contributed to an increase in the number of people seeking professional eye care services and purchasing eye care products from pharmacies. Additionally, the high prevalence of myopia in Southeast Asia has also contributed to the growth of the Eye Care (Pharmacies) market. Myopia, or nearsightedness, is a common vision problem in the region, particularly among young people. This has led to a high demand for corrective lenses and other myopia management products.
Underlying macroeconomic factors: The growing middle class and increasing disposable income in Southeast Asia have played a significant role in the development of the Eye Care (Pharmacies) market. As people's income levels rise, they are more willing to spend on healthcare and wellness products, including eye care. Furthermore, the rapid urbanization and changing lifestyles in the region have also contributed to the growth of the market. Urban dwellers often have busy and hectic lifestyles, which can lead to increased eye strain and other vision problems. This has created a demand for products and services that can help manage these issues. In conclusion, the Eye Care (Pharmacies) market in Southeast Asia is experiencing growth and development due to customer preferences for convenient and natural eye care products, as well as the special circumstances of government initiatives and the high prevalence of myopia. The underlying macroeconomic factors of a growing middle class and changing lifestyles have also contributed to the expansion of the market.
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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