Global Vision Care Market – Industry Trends and Forecast to 2030

Vision Care Market Analysis and Size

Surging volume of patients suffering from chronic diseases which will led to the occurrences of vision ailments, increasing prevalence of geriatric population across the globe, rising demand of the vision care products, improper intake of nutrition and unhealthy food eating habits, growth of the e-commerce sector along with prevalence of several product with improved quality and services are some of the major as well as important factors which will likely to accelerate the growth of the global vision care market.

Data Bridge Market Research analyses that the global vision care market which was USD 41,167.62 million in 2022, is expected to reach USD 57,964.79 million by 2030, and is expected to undergo a CAGR of 4.23% during the forecast period 2023-2030. This indicates that the market value. “Eye Glasses” dominates the product type segment of the global vision care market owing to rising demand of the vision care products. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Vision Care Market Scope and Segmentation

Market Definition

Vision treatment is a vast topic that involves conditions such as blindness, allergies, colour blindness, sties, eye disorders such as glaucoma and macular degeneration (AMD), surgical procedures such as cataract surgery, corneal transplantation, astigmatism, blurry vision, hypermetropia, and myopia, and vision issues.            

Global Vision Care Market Dynamics

Drivers

• Increasing Prevalence of Vision Disorders

The rising incidence of vision disorders such as myopia, hyperopia, astigmatism, and presbyopia is a significant driver for the vision care market. As the global population continues to grow and age, the demand for vision correction and eye care solutions increases.

• Growing Aging Population

With a larger proportion of the population entering old age, there is an increased demand for vision care products and services. Age-related eye conditions such as cataracts, glaucoma, and macular degeneration become more prevalent, driving the need for vision care interventions.

• Technological Advancements

Advancements in technology have significantly impacted the vision care market. Innovative products such as contact lenses, intraocular lenses, laser eye surgery, and diagnostic devices have improved the accuracy of vision correction and treatment options. Technological advancements continue to drive the growth of the vision care market by offering better solutions for vision correction and eye health.

• Increasing Awareness about Eye Health

Growing awareness among individuals about the importance of eye health and regular eye examinations has led to increased demand for vision care products and services. People are becoming more conscious of the need for preventive measures and early detection of eye conditions, which drives the demand for vision care solutions.

Opportunities

• Focus on Preventive Eye Care

With increasing awareness about the importance of preventive healthcare, there is a growing emphasis on proactive eye care. This presents an opportunity for the global vision care market to develop and promote products and services that focus on maintaining and improving eye health, rather than solely addressing vision correction.

• Increasing Demand for Fashionable Eyewear

Eyewear has become a fashion statement, with consumers seeking stylish and trendy frames. This trend provides an opportunity for the global vision care market to cater to the demand for fashionable eyewear designs, creating a niche market segment.

 Restraints/Challenges

• High Cost of Vision Care Products

Vision care products such as prescription glasses, contact lenses, and advanced surgical procedures can be expensive. The high cost of these products and services may limit access for individuals with lower income levels, especially in developing countries, where affordability is a significant concern.

• Stringent Regulatory Requirements

Vision care products, especially medical devices like contact lenses and intraocular lenses, are subject to strict regulatory approvals and quality standards. Meeting these requirements can be challenging for smaller companies or new entrants, potentially limiting market entry and innovation.

This global vision care market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global vision care market Contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In April 2022, Alcon, the global leader in eye care, announced the launch of PRECISION1 for Astigmatism in Canada. The daily disposable silicone hydrogel (SiHy) contact lenses are designed for astigmatic patients, continuing Alcon’s mission to help people see brilliantly
• In December 2021, Johnson & Johnson Vision received FDA approval for its ACUVUE Abiliti Overnight Therapeutic Lenses, the first and only FDA-approved orthokeratology (ortho-k) contact lens for myopia management, according to the company

Global Vision Care Market Scope

The global vision care market is segmented on the basis of product type, type, indication, treatment end-user and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Eye Glasses
• Contact Lens
• Intraocular Lens
• Others

 Type

• Rx (Prescription)
•  Non-Rx (Non-Prescription

Indication

• Refractive Error
• Glaucoma
• Diabetic Retinopathy
• Amblyopia
• Dry Eyes
• Others

Treatment

• Surgery
• Laser Therapy
• Medication
• Others

End-User

• Eye Hospitals and Clinics
• Ambulatory Surgery Center
• Optical Stores
• Others

Distribution Channel

• Retail Stores
• E-Commerce
• Others

 Global Vision Care Market Regional Analysis/Insights

The vision care market is analyzed and market size insights and trends are provided by country, product type, type, indication, treatment end-user and distribution channel as referenced above.

The countries covered in the  vision care  market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the global vision care market because of the strong base of healthcare facilities, strong presence of major players in the market, rising demand of the vision care products and rising number of research activities in this region.   

Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, and the growing demand for quality healthcare in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Global Vision Care Market Share Analysis

The global vision care market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global vision care market.

Some of the major players operating in the global Vision care market are:

• lcon, Inc. (Switzerland)
• Johnson & Johnson Innovation LLC. (U.S.)
• EssilorLuxottica(France)
•  CooperVision (U.S.)
• Bausch Health Companies Inc.(U.S.)
• SAFILO GROUP S.P.A.(Italy)
• ZEISS International(Germany)
• Fielmann AG (Germany)
• JINS Eyewear US, Inc.(U.S.)
• LENSMAM CO., LTD. (South Korea)
• VIEWELL.INC (South Korea)
• POLYTOUCH (South Korea)
• SEED Co., Ltd (Japan) 
• Menicon Co., Ltd. (Japan)
• OPTEX AUSTRALIA(Australia)
• Sunshades Eyewear(Australia)
• HOYA Corporation(Japan)
• American Sunglass Manufacturing (U.S.)
•  Charlie Victor (U.S.)
• Eyeking(U.S.)
• SightGlass Vision, Inc.(U.S.)

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