Market Insights Consumer OTC Pharmaceuticals

Eye Care - Argentina

Argentina

Revenue in the Eye Care market amounts to €14.83 in 2024. The market is expected to grow annually by 3.01% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€1,152 in 2024).
In relation to total population figures, per person revenues of €0.32 are generated in 2024.

Key regions: Thailand, Philippines, Indonesia, Canada, United Kingdom

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Eye Care market in Argentina has been experiencing significant growth in recent years.

Customer preferences: Customers in Argentina are becoming more aware of the importance of eye health and are increasingly seeking out products and services to maintain and improve their vision. This is driving demand for a wide range of eye care products, including contact lenses, glasses, and eye drops. Additionally, there is a growing trend towards purchasing eyewear as a fashion accessory, with customers looking for stylish frames that reflect their personal style.

Trends in the market: One of the key trends in the Eye Care market in Argentina is the increasing popularity of online retail. Consumers are increasingly turning to online platforms to purchase eyewear, as it offers convenience and a wider range of options. This trend has been further accelerated by the COVID-19 pandemic, which has led to a surge in online shopping across all industries. Online retailers are capitalizing on this trend by offering virtual try-on tools and personalized recommendations to enhance the online shopping experience. Another trend in the market is the rising demand for specialized eye care services. As the population ages, the prevalence of age-related eye conditions, such as cataracts and macular degeneration, is increasing. This has created a growing need for specialized eye care services, including surgical interventions and treatments. Eye care clinics and hospitals are expanding their services to meet this demand, offering advanced treatments and technologies to improve patient outcomes.

Local special circumstances: Argentina has a large and diverse population, with a significant proportion of the population living in urban areas. This concentration of population in urban areas has led to the establishment of numerous eye care clinics and retail outlets in cities such as Buenos Aires and Cordoba. These urban areas have a higher concentration of wealth and disposable income, which has contributed to the growth of the Eye Care market.

Underlying macroeconomic factors: Argentina has been facing economic challenges in recent years, including high inflation and currency depreciation. These factors have impacted consumer purchasing power and have led to a shift towards more affordable eye care products. Customers are increasingly looking for value for money and are opting for lower-cost eyewear options. This has created opportunities for both local and international eyewear brands to cater to this demand by offering affordable products without compromising on quality. In conclusion, the Eye Care market in Argentina is experiencing growth due to increasing customer awareness of eye health, the popularity of online retail, the demand for specialized eye care services, and the unique economic circumstances in the country. As the market continues to evolve, there will be opportunities for both local and international players to capitalize on these trends and meet the growing demand for eye care products and services.

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.