Category : Healthcare and Pharmaceuticals | Published at : January-2020 | Delivery Format : PDF | Status: Published | Pages : 190
The global vision care market size is expected to reach around US$ 195.34 Bn by 2026, growing at a CAGR of around 5.1% during the forecast period 2019 to 2026.
Vision care is a vast subject that includes conditions such as blindness, allergies, color blindness, sties, eye diseases such as glaucoma and macular degeneration (AMD), surgical procedures such as cataract surgery, cornea transplant, and vision problems including astigmatism, blurry vision, hyperopia, and myopia.
Market Dynamics
The rise in the ratio of people with visual impairment and blindness is increasing due to an overall aging population, increase in the variety of approvals for therapies and the increase of diabetes among many population teams has caused diabetic retinopathy. Also, the prevalence of eye diseases and visual impairment is ascertained more among the rural population. Along with this improper intake of nutrition and unhealthy food eating habits is also the reason causing vision loss. Increase in the number of the population working on the desktop is also a factor accelerating the growth of the vision care market. Trends in eyewear styled sunglasses for sun protection and the latest range of contact lenses for extra comfort is influencing growth further.Increase in geriatric population, the danger of visual impairment owing to chronic eye diseases and ageing will increase the market demand. Around 63% of children had refractive errors that can be diagnosed and corrected. Eye care services are progressively being integrated into a primary and secondary healthcare system that focuses on the provision of high-quality services at low value. Rising whole awareness, changing lifestyles, rising pollution and increasing consciousness among shoppers regarding healthy vision is booming the world vision care market. an oversized variety of counterfeit product offered in the market that led to damage to the vision that is a primary obstacle impeding the growth of the market.
By product type, glass lenses is expected to dominate the vision- care market
Glass Lenses has dominated the offering segment in the year 2018 and the segment is projected to maintain its dominance over the forecast period. Some of the major factors are lifestyle, comfort, convenience, budget and aesthetics, in addition, Glasses also can act as an extension of your personality and make a great fashion statement. LASIK equipment and contact lenses are the fastest growing market at a CAGR of 3.1% over the forecast period as overnight orthokeratology (Ortho-k) temporarily corrects myopia and LASIK surgery impair diopter vision range.
Based on distribution type, retail stores is expected to dominate during the forecast period
Based on distribution channel, the vision care market is segmented into retail stores, on-line stores, and hospitals and clinics. The retail stores are anticipated to get the best revenue within the vision care market during the forecast amount. the higher availibility of vision care product through retail stores is estimated to be the major driving issue for the section. However, there is a rise within the prefrence of e-commerce websites compared to the normal brick and mortar channel for looking. this is attributed to the increasing advantages offered by on-line channels, like discounts, free home delivery, virtual look check of the product etc. This trend is anticipated to positively affect the growth of on-line stores in the vision care market section.
The market research study on “Global Vision Care Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”,offers a detailed insight into the global vision care market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global vision care market, its market product, distribution channel, end user, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global vision care market size and volume, and segment markets by market product, distribution channel, end user, and geography along with the information on companies operating in the market. The global vision care market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
In 2018, North America dominated the regional market with a maximum market share
North- America accounted for the high market share of the global vision care market and the region is also expected to maintain its dominance over the forecast period.Some major factors contributing to this growth are,due to advanced technology with high rate of awareness and healthcare expenditure. Europe position itself in the market race with the ability of innovations and the presence of key market players. Asia pacific considered as the emerging market with increasing incidences of eye problems and developing technologies. The exponential growth in North America and the APAC region is likely to drive the demand for eye care product in the market.
The key companies involved in the market includes Novartis, Hoya Corporation, Ultra Vision, SEIKO PHARMA, Luxottica, Essilor, Cooper Vision, Fielmann, Menicon Co., Ltd., and Valeant pharmaceuticals. These Organizations gains the confidence of the customers by being more focused, innovative, caring and trusted.
Market Segmentation
Market By Distribution Channel
- Retail Stores
- Online Stores
- Clinics
- Hospitals
Market By Product
- Glass Lenses
- Contact Lenses
- Intraocular Lenses
- Contact Solutions
- Lasik Equipment
- Artificial Tear
- Others
Market By End User
- Hospitals
- Clinics
- Ambulatory Surgery Centers
- Others
Market By Geography
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
Vision care is a vast subject that includes conditions such as blindness, allergies, color blindness, sties, eye diseases.
Increase in the number of the population working on the desktop is main driver of the vision care market.
According to Acumen Research and Consulting, the vision care market size is anticipated to be worth around US$ 195.34 billion in 2026.
The vision care market is anticipated to grow over 5.1% CAGR during the forecast period 2019 to 2026.
Product types of vision care market are glass lenses, contact lenses, Intraocular lenses, contact solutions, lasik equipment, artificial tear and others.
North-America held maximum share in 2018 for vision care market.
Novartis, Hoya Corporation, Ultra Vision, SEIKO PHARMA, Luxottica, Essilor, Cooper Vision, Fielmann, Menicon Co., Ltd., and Valeant pharmaceuticals are the main key players operating in the vision care market.
