Market Insights Health Pharmacies OTC Products

Eye Care (Pharmacies) - Spain

Spain

Revenue in the Eye Care market is projected to reach €67.97m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.72%, resulting in a market volume of €74.02m by 2029.
In global comparison, most revenue will be generated in Japan (€830.00m in 2024).
In relation to total population figures, per person revenues of €1.43 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 Spain is experiencing significant growth and development. Customer preferences for eye care products and services are evolving, leading to new trends in the market. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the expansion of the market. Customer preferences in the Eye Care (Pharmacies) market in Spain are shifting towards a greater emphasis on preventive care and holistic approaches to eye health. Consumers are becoming more aware of the importance of regular eye examinations and are seeking out products and services that can help maintain and improve their vision. This includes a growing demand for prescription eyewear, contact lenses, and eye drops that address specific eye conditions. Furthermore, there is a rising interest in natural and organic eye care products, as consumers become more conscious of the ingredients they put on their eyes. Trends in the Eye Care (Pharmacies) market in Spain reflect these changing customer preferences. Pharmacies are expanding their range of eye care products and services to meet the growing demand. They are stocking a wider variety of prescription eyewear, contact lenses, and eye drops, as well as offering specialized eye examinations and consultations. Additionally, pharmacies are partnering with optometrists and ophthalmologists to provide comprehensive eye care services under one roof. This trend towards integrated eye care is driven by the convenience it offers to consumers, who can now access all their eye care needs in one place. Local special circumstances in Spain are also contributing to the growth of the Eye Care (Pharmacies) market. Spain has a large aging population, which is more prone to eye conditions such as cataracts and age-related macular degeneration. As a result, there is a higher demand for eye care products and services among this demographic. Pharmacies are capitalizing on this opportunity by offering specialized products and services targeted towards older adults, such as reading glasses and eye supplements. Additionally, Spain has a high prevalence of dry eye syndrome, which has led to an increased demand for lubricating eye drops and other related products. Underlying macroeconomic factors are further driving the development of the Eye Care (Pharmacies) market in Spain. The country has experienced steady economic growth in recent years, resulting in increased disposable income among consumers. This has led to higher spending on healthcare and wellness products, including eye care. Additionally, the Spanish government has implemented policies to promote access to healthcare services, including eye care. This has created a favorable environment for the expansion of the Eye Care (Pharmacies) market, as consumers have greater access to affordable eye care products and services. In conclusion, the Eye Care (Pharmacies) market in Spain is growing and evolving due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Pharmacies are expanding their offerings to meet the demand for preventive eye care, integrated services, and specialized products. With a large aging population and a focus on healthcare accessibility, the Eye Care (Pharmacies) market in Spain is expected to continue its upward trajectory.

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.