Market Insights Consumer OTC Pharmaceuticals

Eye Care - Austria

Austria

Revenue in the Eye Care market amounts to €24.27m in 2024. The market is expected to grow annually by 1.77% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€1,152m in 2024).
In relation to total population figures, per person revenues of €2.70 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 Austria has been experiencing significant growth in recent years.

Customer preferences: Customers in Austria are increasingly prioritizing their eye health, leading to a higher demand for eye care products and services. With the growing awareness about the importance of regular eye check-ups, people are seeking out opticians and ophthalmologists for comprehensive eye examinations. Additionally, there is a rising trend of using eyewear as a fashion accessory, with customers looking for stylish and trendy frames to enhance their personal style.

Trends in the market: One of the key trends in the Eye Care market in Austria is the increasing popularity of contact lenses. Many individuals are opting for contact lenses as a convenient and comfortable alternative to traditional eyeglasses. This trend is driven by advancements in contact lens technology, such as the development of breathable and moisture-retaining materials, which provide enhanced comfort and vision correction. Furthermore, the availability of a wide range of contact lens options, including daily disposable lenses and colored lenses, is attracting more customers. Another trend in the market is the growing demand for specialized eye care products. This includes products designed for specific eye conditions, such as dry eyes or allergies. Customers are seeking out these specialized products to address their unique eye care needs and to achieve optimal eye health. Additionally, there is an increasing interest in natural and organic eye care products, as customers become more conscious about the ingredients used in the products they use.

Local special circumstances: Austria has a well-developed healthcare system, which includes comprehensive eye care services. The country has a high number of opticians and ophthalmologists, ensuring that individuals have easy access to eye care professionals. This accessibility, combined with the high level of expertise and technology available in Austria, contributes to the growth of the Eye Care market in the country.

Underlying macroeconomic factors: The growing Eye Care market in Austria can be attributed to several underlying macroeconomic factors. Firstly, the country has a stable and prosperous economy, which enables individuals to afford eye care products and services. Additionally, the aging population in Austria is driving the demand for eye care, as older individuals are more likely to require vision correction and specialized eye care. Furthermore, the increasing prevalence of digital devices in daily life has led to a higher incidence of eye strain and other vision-related issues, further boosting the demand for eye care products and services. In conclusion, the Eye Care market in Austria is experiencing growth due to the increasing customer preferences for eye health, the trends of contact lenses and specialized eye care products, the accessibility of eye care services, and the underlying macroeconomic factors of a stable economy and an aging population.

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.