Market Insights Health Pharmacies OTC Products

Eye Care (Pharmacies) - Brazil

Brazil

Revenue in the Eye Care market is projected to reach €98.11m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.90%, resulting in a market volume of €118.80m by 2029.
In global comparison, most revenue will be generated in Japan (€838.70m in 2024).
In relation to total population figures, per person revenues of €0.45 are generated in 2024.

Key regions: Canada, Europe, India, Australia, South Korea

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Región

Comparación de regiones

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Analyst Opinion

The Eye Care (Pharmacies) market in Brazil is experiencing significant growth due to several factors. Customer preferences for eye care products and services, along with local special circumstances and underlying macroeconomic factors, are driving the development of this market. Customer preferences in Brazil are shifting towards a greater focus on eye health and wellness. With increasing awareness about the importance of eye care, consumers are seeking out a wide range of products and services to maintain their vision and prevent eye-related issues. This includes a demand for prescription eyewear, contact lenses, and over-the-counter eye drops and supplements. Additionally, there is a growing interest in specialized eye care services such as eye exams and screenings, which are often provided by pharmacies. Trends in the market reflect the changing customer preferences. Pharmacies in Brazil are expanding their eye care offerings to meet the growing demand. They are investing in training their staff to provide specialized eye care services and are stocking a wider range of eye care products. Pharmacies are also partnering with optometrists and ophthalmologists to provide comprehensive eye care services under one roof. This trend is driven by the convenience and accessibility that pharmacies offer, as well as the trust that consumers have in these establishments. Local special circumstances in Brazil also contribute to the development of the Eye Care (Pharmacies) market. Brazil has a large population with a significant portion of the population suffering from vision problems. This creates a substantial customer base for eye care products and services. Additionally, Brazil has a well-established network of pharmacies that are easily accessible to the population. This makes it convenient for consumers to seek out eye care solutions from their local pharmacy. Underlying macroeconomic factors in Brazil also play a role in the growth of the Eye Care (Pharmacies) market. Brazil has experienced economic growth in recent years, which has increased disposable incomes and consumer spending. This has allowed consumers to allocate more of their budget towards eye care products and services. Furthermore, the government in Brazil has implemented policies to promote access to healthcare, including eye care. This has resulted in increased awareness and demand for eye care services, benefiting the pharmacies that offer these services. In conclusion, the Eye Care (Pharmacies) market in Brazil is developing due to customer preferences for eye care products and services, local special circumstances, and underlying macroeconomic factors. The market is experiencing growth as consumers prioritize eye health and wellness, leading to increased demand for a wide range of eye care products and services. Pharmacies in Brazil are responding to this demand by expanding their offerings and partnering with eye care professionals. With a large population and favorable economic conditions, Brazil presents a significant opportunity for the Eye Care (Pharmacies) market to continue its development.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.