Market Insights Consumer OTC Pharmaceuticals

Eye Care - Europe

Europe

Revenue in the Eye Care market amounts to €1.26k in 2024. The market is expected to grow annually by 2.85% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€1,165 in 2024).
In relation to total population figures, per person revenues of €1.50 are generated in 2024.

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

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Analyst Opinion

The Eye Care market in Europe is experiencing significant growth and development due to several key factors.

Customer preferences: Customers in Europe are increasingly prioritizing their eye health and are seeking out products and services that can help them maintain good vision. This is driven by a growing awareness of the importance of eye care and the impact that vision problems can have on daily life. As a result, there is a high demand for products such as contact lenses, glasses, and eye drops, as well as services like eye exams and corrective surgeries.

Trends in the market: One of the major trends in the Eye Care market in Europe is the increasing popularity of contact lenses. Many customers are choosing contact lenses over traditional glasses due to their convenience and aesthetic appeal. Contact lens manufacturers are responding to this trend by introducing new and innovative products, such as daily disposable lenses and lenses that can correct multiple vision problems. Another trend in the market is the growing demand for natural and organic eye care products. Customers are becoming more conscious of the ingredients in the products they use, and are seeking out options that are free from harsh chemicals and preservatives. This has led to the development of a wide range of natural eye drops and other eye care products that are specifically marketed as being gentle and safe for sensitive eyes.

Local special circumstances: In some countries in Europe, there are unique factors that are shaping the Eye Care market. For example, in countries with a high prevalence of myopia, such as Germany and the Netherlands, there is a strong demand for products and services that can help slow the progression of nearsightedness in children. This has led to the development of specialized lenses and treatments that are designed to address this specific need.

Underlying macroeconomic factors: The Eye Care market in Europe is also influenced by macroeconomic factors, such as population demographics and income levels. As the population ages, there is a growing need for eye care products and services to address age-related vision problems, such as presbyopia and cataracts. Additionally, as disposable incomes rise, more customers are able to afford higher-end eye care products and treatments, driving growth in the market. In conclusion, the Eye Care market in Europe is experiencing growth and development due to increasing customer preferences for eye health, the popularity of contact lenses and natural eye care products, local special circumstances in certain countries, and underlying macroeconomic factors such as population demographics and income levels. As these trends continue to evolve, the market is expected to expand further in the coming years.

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.