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Vision Care Market (Product - Eye Glasses, Contact Lens, Intraocular Lens, and Others; Distribution Channel - Retail Stores, E-commerce, and Clinics and Hospitals): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : February, 2021

  • Rep Id : HC0062

  • Category : Healthcare & Medical Devices

  • Status : Published

A recent report published by Infinium Global Research on vision care market provides in-depth analysis of segments and sub-segments in the global as well as regional vision care market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional vision care market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global vision care market. According to the report, the global vision care market is projected to grow at a CAGR of 4.3% over the forecast period of 2020-2026


Market Insight

Vision care is defined as the anticipation or prevention of visual impairment and blindness. These are common problems among the population and will soon become major healthcare challenges. Vision care deals with both vision and eye-related problems and corrects refractory disorders by prescription eyeglasses and contact lenses. With growing addiction towards the digital world and technological innovations, vision care products are expected to grow in quality and quantity in the coming years. High investments from major players in the market and continuous research for improving the manufacture and supply process of eyeglasses, lenses, and other eyewear is clearly encouraging the sales in this market. According to WHOM statistics, in 2014 there were almost 285 million people who are estimated to be visually impaired worldwide of which 39 million are blind and 246 have low vision. . 82% of people living with blindness are aged 50 and above.

 

The rapidly aging population in the most developed consumer health markets, rising prevalence of allergies, increasing exposure to computer or digital screens, changing lifestyle habits, and side effects of most commonly used medications such as dry eye, age-related muscular degeneration, and allergic eyes are the key driving factors for the growth of this market. In addition, increasing refractor disorders in children, a rise in innovative customer-centric products, and an increasing optical network further expected to propel this market in the coming years. However, Stringent government norms regarding the selling of vision care products product are affecting the growth of the vision care market. Moreover, favorable reimbursement for cataract surgery and increasing inclination towards eye care merchandise is projected to provide significant growth opportunities for the market.

 

North America is dominating the market during the forecast period due to high awareness, better product availability, a well-connected distribution network, and a large base of patients with greater affordability. Furthermore, technological advances and high expenditure on healthcare from both government and individuals account for a significant share of the North American vision care market. However, the Asia-Pacific market is expected to grow at a faster rate during the forecast period. This is predominantly due to increased healthcare awareness, technological advancements, mandate health insurance, and growing awareness among the population about the treatment options available in the market. Moreover, increasing awareness of eye health, and excessive use of electronic devices in developing countries contributing to the growth of the vision care market in Asia Pacific region.

 

Segment Covered

The report on global vision care market covers segments such as product, and distribution channel. On the basis of product, the sub-markets include eye glasses, contact lens, intraocular lens, and others. On the basis of distribution channel, the sub-markets include retail stores, e-commerce, and clinics and hospitals.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Novartis AG, The Cooper Companies Inc., SynergEyes Inc., Luxottica Group S.p.A., Essilor International, Johnson & Johnson, Carl Zeiss Vision, Seiko, Valeant Pharmaceuticals International Inc., and others.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the vision care market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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