Market Insights Consumer OTC Pharmaceuticals

Eye Care - Israel

Israel

Revenue in the Eye Care market amounts to €17.26m in 2024. The market is expected to grow annually by 2.39% (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 €1.85 are generated in 2024.

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

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Analyst Opinion

The Eye Care market in Israel is experiencing steady growth due to several key factors. Customer preferences for high-quality eye care products and services, coupled with an increased awareness of the importance of eye health, are driving the market forward.

Additionally, local special circumstances and underlying macroeconomic factors are contributing to the development of the Eye Care market in Israel. Customer preferences in Israel are shifting towards a greater emphasis on eye health. With an aging population and an increase in digital device usage, there is a growing demand for products and services that address common eye-related issues such as dryness, strain, and vision problems.

Consumers are seeking out innovative solutions that can help alleviate these concerns and improve their overall eye health. Trends in the Eye Care market in Israel reflect this customer preference for high-quality products and services. There is a growing demand for advanced contact lenses and eyeglasses that offer enhanced comfort and visual clarity.

Additionally, there is an increasing interest in specialized eye care treatments such as laser eye surgery and cosmetic procedures. This trend towards more personalized and tailored eye care solutions is driving the growth of the market. Local special circumstances in Israel also contribute to the development of the Eye Care market.

The country has a highly educated population with a strong emphasis on health and wellness. This creates a favorable environment for the growth of the Eye Care market, as consumers are willing to invest in their eye health and seek out the latest advancements in the field. Furthermore, Israel has a well-developed healthcare system and a robust medical technology sector, which allows for the easy adoption of new eye care technologies and treatments.

Underlying macroeconomic factors also play a role in the growth of the Eye Care market in Israel. The country has a stable economy with a high disposable income, which enables consumers to spend more on eye care products and services. Additionally, Israel has a strong research and development sector, which fosters innovation in the eye care industry and contributes to the development of new and improved products.

In conclusion, the Eye Care market in Israel is experiencing growth due to customer preferences for high-quality eye care products and services, increased awareness of the importance of eye health, local special circumstances, and underlying macroeconomic factors. The market is characterized by a shift towards personalized and tailored eye care solutions, as well as a growing demand for advanced technologies and treatments. With a favorable environment for innovation and a strong emphasis on health and wellness, the Eye Care market in Israel is poised for further development 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.