Market Insights Health OTC Pharmaceuticals

Eye Care - South Africa

South Africa

In South Africa, the revenue in the Eye Care market market in 2024 amounts to €19.37m.
This market is expected to grow annually by 1.96% (CAGR 2024-2029).
Comparing this to global figures, the in the United States generates the highest revenue in the Eye Care market market, reaching €1,165.00m in 2024.
In terms of per person revenues, in South Africa generates €0.32 in 2024.
South Africa's Eye Care market is witnessing a surge in demand for natural and herbal remedies, driven by increasing consumer awareness about the benefits of holistic eye health.

Key regions: Europe, Australia, Brazil, China, United States

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Analyst Opinion

The Eye Care market in South Africa is experiencing significant growth and development in recent years.

Customer preferences: South African consumers are increasingly concerned about maintaining their eye health and seeking professional eye care services. This is primarily driven by the growing awareness of the importance of regular eye examinations and the prevention of eye diseases. Additionally, there is a rising demand for fashionable eyewear and contact lenses, as consumers view these products as both functional and stylish accessories.

Trends in the market: One of the key trends in the Eye Care market in South Africa is the increasing adoption of digital eye care solutions. With the widespread use of digital devices such as smartphones, tablets, and computers, consumers are experiencing a higher prevalence of digital eye strain and other related issues. As a result, there is a growing demand for products and services that address these specific needs, such as blue light-blocking glasses and specialized eye drops.Another trend in the market is the rising popularity of laser eye surgery. Many South Africans are opting for this procedure to correct their vision and reduce their dependence on glasses or contact lenses. The advancements in technology and the increasing number of experienced surgeons have made laser eye surgery more accessible and affordable for a larger portion of the population.

Local special circumstances: South Africa has a diverse population with varying eye care needs. The country has a high prevalence of conditions such as cataracts and glaucoma, which require specialized treatment and surgery. Additionally, there is a significant portion of the population that suffers from refractive errors, such as nearsightedness and farsightedness. This diversity in eye care needs creates opportunities for a wide range of products and services in the market.

Underlying macroeconomic factors: The Eye Care market in South Africa is influenced by several macroeconomic factors. The country has a growing middle class with increasing disposable income, which allows consumers to spend more on eye care products and services. Additionally, the government has implemented various initiatives to improve access to eye care, particularly in rural areas. This includes the provision of mobile eye clinics and the training of more eye care professionals.Furthermore, the South African healthcare system is undergoing reforms to improve the overall quality and accessibility of healthcare services, including eye care. This has led to increased investment in the sector and the establishment of more eye care facilities across the country. These factors contribute to the growth and development of the Eye Care market in South Africa.In conclusion, the Eye Care market in South Africa is experiencing growth and development due to increasing customer preferences for maintaining eye health, the adoption of digital eye care solutions, and the popularity of laser eye surgery. The local special circumstances, such as the diverse population and the prevalence of specific eye conditions, create opportunities for a wide range of products and services. The underlying macroeconomic factors, including the growing middle class and healthcare reforms, further contribute to the market's growth.

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.