Market Insights Consumer OTC Pharmaceuticals

Eye Care - Spain

Spain

Revenue in the Eye Care market amounts to €90.60 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 (€1,165 in 2024).
In relation to total population figures, per person revenues of €1.91 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 Spain has been experiencing significant growth in recent years.

Customer preferences: Consumers in Spain are becoming increasingly aware of the importance of eye health and are taking proactive measures to maintain good vision. This has led to a rise in demand for eye care products and services in the country. Additionally, with the aging population in Spain, there is a growing need for vision correction and treatment of eye conditions such as cataracts and age-related macular degeneration.

Trends in the market: One of the key trends in the Eye Care market in Spain is the increasing popularity of contact lenses. Many consumers are opting for contact lenses as a convenient and comfortable alternative to traditional eyeglasses. This trend is driven by advancements in contact lens technology, which has made them more comfortable to wear for extended periods of time. Additionally, the growing popularity of cosmetic contact lenses for aesthetic purposes has also contributed to the increase in demand. Another trend in the market is the rise of online sales of eye care products. With the convenience of online shopping, more consumers are opting to purchase their eyeglasses, contact lenses, and other eye care products online. This trend is further fueled by the availability of virtual try-on tools and online prescription services, which make it easier for consumers to find the right products and get the necessary prescriptions.

Local special circumstances: Spain has a well-developed healthcare system, which includes a strong network of eye care professionals and facilities. This has contributed to the accessibility and availability of eye care services in the country. Additionally, the Spanish government has implemented policies to promote eye health and provide support for individuals with visual impairments. These initiatives have helped raise awareness about the importance of eye care and encourage people to seek regular eye examinations.

Underlying macroeconomic factors: The Eye Care market in Spain is also influenced by macroeconomic factors such as the overall economic growth and disposable income levels of consumers. As the Spanish economy continues to recover from the financial crisis, consumers have more disposable income to spend on healthcare services, including eye care. This has contributed to the growth of the Eye Care market in the country. In conclusion, the Eye Care market in Spain is experiencing growth due to increasing consumer awareness of eye health, the popularity of contact lenses, the rise of online sales, and the accessibility of eye care services. These trends are supported by local special circumstances such as a well-developed healthcare system and government initiatives to promote eye health. Additionally, underlying macroeconomic factors such as economic growth and disposable income levels are also contributing to the growth of the 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.