Market Insights Health Pharmacies OTC Products

Eye Care (Pharmacies) - Japan

Japan

Revenue in the Eye Care market is projected to reach €0.84bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.92%, resulting in a market volume of €0.97bn 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 €6.84 are generated in 2024.

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

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Analyst Opinion

The Eye Care (Pharmacies) market in Japan has been experiencing steady growth in recent years.

Customer preferences: Customers in Japan are increasingly prioritizing their eye health and are seeking convenient and accessible solutions. With the aging population and the prevalence of digital devices, there is a growing demand for eye care products and services. Japanese consumers are known for their high standards and are willing to invest in quality products that can help maintain and improve their eye health. They are also becoming more conscious about the ingredients and formulations of eye care products, preferring natural and gentle solutions.

Trends in the market: One of the key trends in the Eye Care (Pharmacies) market in Japan is the rise of online sales channels. E-commerce platforms and online pharmacies have gained popularity among consumers due to their convenience and wide product selection. This trend has been further accelerated by the COVID-19 pandemic, as more people are opting for online shopping to avoid crowded places. Pharmacies are adapting to this shift by expanding their online presence and offering home delivery services. Another trend in the market is the increasing demand for specialized eye care products. Japanese consumers are seeking products that target specific eye conditions such as dryness, redness, and fatigue. This has led to the introduction of innovative and niche products in the market, including eye drops with moisturizing and soothing properties, as well as eye masks and supplements. Pharmacies are expanding their product portfolios to cater to these specific needs and preferences.

Local special circumstances: Japan has a well-established healthcare system and a strong emphasis on preventive care. Regular eye check-ups and early detection of eye conditions are encouraged, leading to increased awareness and demand for eye care products. The country also has a high prevalence of myopia, especially among younger generations, which further drives the demand for corrective and preventive eye care products.

Underlying macroeconomic factors: The aging population in Japan is a significant driver of the Eye Care (Pharmacies) market. As people age, the risk of developing eye conditions such as cataracts, glaucoma, and age-related macular degeneration increases. This demographic trend has created a growing market for eye care products and services. Additionally, the widespread use of digital devices in Japan has contributed to the growth of the Eye Care (Pharmacies) market. Prolonged screen time can cause eye strain and dryness, leading to increased demand for products that alleviate these symptoms. The prevalence of digital devices in both personal and professional settings has made eye care a priority for many individuals. In conclusion, the Eye Care (Pharmacies) market in Japan is driven by customer preferences for convenient and high-quality eye care solutions. The rise of online sales channels and the demand for specialized products are notable trends in the market. Japan's emphasis on preventive care, high prevalence of myopia, aging population, and widespread use of digital devices are the underlying macroeconomic factors contributing to the growth of the market.

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.