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.
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
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
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.
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.
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.,
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 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.