Market Insights Consumer OTC Pharmaceuticals

Eye Care - Myanmar

Myanmar

Revenue in the Eye Care market amounts to €15.26 in 2024. The market is expected to grow annually by 2.91% (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 €0.28 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 Myanmar is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Eye Care market in Myanmar are shifting towards a greater emphasis on preventive care and a desire for high-quality products and services.

Customers are becoming more aware of the importance of regular eye examinations and are seeking out optometrists and ophthalmologists for comprehensive eye care. Additionally, there is a growing demand for fashionable and trendy eyewear, as customers view eyeglasses and contact lenses as fashion accessories. This shift in customer preferences is driving the growth of the Eye Care market in Myanmar.

Trends in the market include the increasing adoption of advanced technologies and digital solutions. Eye care providers are incorporating digital tools and equipment into their practices, such as digital retinal imaging and automated refraction systems. These technologies improve the accuracy of eye examinations and allow for early detection of eye diseases.

Furthermore, there is a growing trend of online eyewear shopping, with customers opting for the convenience of purchasing eyeglasses and contact lenses from the comfort of their homes. This trend is driving the growth of e-commerce platforms specializing in eye care products. Local special circumstances in Myanmar, such as a large population and a high prevalence of vision problems, contribute to the development of the Eye Care market.

Myanmar has a population of over 54 million people, and a significant portion of the population requires vision correction. Additionally, the country has a high prevalence of eye diseases, such as cataracts and glaucoma. These local circumstances create a strong demand for eye care services and products, driving the growth of the market.

Underlying macroeconomic factors, such as economic growth and increasing disposable income, also play a role in the development of the Eye Care market in Myanmar. The country has experienced steady economic growth in recent years, leading to an expansion of the middle class and an increase in disposable income. As a result, more people have the financial means to invest in eye care, including regular eye examinations, eyeglasses, and contact lenses.

This growing affluence contributes to the overall growth of the Eye Care market. In conclusion, the Eye Care market in Myanmar is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards preventive care, adoption of advanced technologies, and increasing demand for fashionable eyewear are driving the growth of the market.

Furthermore, the large population, high prevalence of vision problems, and economic growth in Myanmar contribute to the development of the Eye Care market.

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.