What is the global market size of Vision Care Market?

Vision Care Market size was valued at USD 67.03 billion in 2021 and is poised to grow from USD 69.3 billion in 2022 to USD 93.55 billion by 2030, growing at a CAGR of 3.39% in the forecast period (2023-2030).

Who are the key vendors in the Global Vision Care Market?

In order to develop more effective products, several worldwide organizations are concentrating on R&D programs. To increase their customer base, they are also providing a variety of product variations with better quality and services. For instance, in August 2021, the first and only monthly replacement, a water gradient lens that feels like nothing, TOTAL30, has been introduced by Alcon, a global leader in eye care committed to allowing users to see clearly. 'ESSILORLUXOTTICA ', 'Bausch Health', 'The Cooper Companies Inc', 'Novartis AG', 'Johnson & Johnson', 'Carl Zeiss Meditec AG', 'Luxottica Group S.p.A.', 'Hoya Corporation', 'Alcon, Inc.', 'Safilo Group S.p.A.', 'GrandVision N.V.', 'Menicon Co., Ltd.', 'Topcon Corporation', 'Nidek Co., Ltd.', 'Shamir Optical Industry Ltd.', 'Charmant Group', 'Marcolin S.p.A.', 'Rodenstock GmbH', 'Seiko Optical Products Co., Ltd.', 'Vision Service Plan (VSP)'.

What is the key driver of Global Vision Care Market?

The market will expand in the approaching years as a result of the rising prevalence of cataracts in the world. The requirement for vision is rising as the incidence of cataracts rises, which helps the industry grow. One of the main factors driving the market is expected to be the rising number of people suffering from eye illnesses.

What is the key market trend for Global Vision Care Market?

The U.S. Food and Drug Administration's (FDA) certification of Paragon Vision Science's freshly built contact lens production facility in suburban Phoenix would positively impact market trends in the eye care industry. For instance, the facility will develop cutting-edge ortho-k goods for usage in the United States, such as Paragon CRT®. The new location is larger than the company's existing operation, which is located close by in Mesa, Arizona.

Which region accounted for the largest share in Global Vision Care Market?

North America currently holds a dominant position in the global market for eye care due to the widespread use of vision care goods, favorable reimbursement practices, and growing public knowledge of the advantages of the product.

Vision Care Market Size, Share, Growth Analysis, By Product(Spectacle Lenses, Contact Lenses, Cleaning & Disinfecting Solutions), By Distribution channel(Retail Stores, Online Stores, Hospital & Clinics), By Region - Industry Forecast 2024-2031

Report ID: SQSG35B2018 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 63 | Figures: 75

Vision Care Market Competitive Landscape

Top Players in the Global Vision Care Market

ESSILORLUXOTTICA
Bausch Health
The Cooper Companies Inc
Novartis AG
Johnson & Johnson
Carl Zeiss Meditec AG
Luxottica Group S.p.A.
Hoya Corporation
Alcon, Inc.
Safilo Group S.p.A.
GrandVision N.V.
Menicon Co., Ltd.
Topcon Corporation
Nidek Co., Ltd.
Shamir Optical Industry Ltd.
Charmant Group
Marcolin S.p.A.
Rodenstock GmbH
Seiko Optical Products Co., Ltd.
Vision Service Plan (VSP)

Vision Care Market Recent Development

In September 2024, Johnson & Johnson declared the launch of its modernization in (PC - IOL) presbyopia-correcting intraocular lenses, TECNIS Odyssey in the United States. The novel full-vision range offers patients impeccable unbroken full vision range, helping them to see near and far and in between. This majorly reduces the need for glasses or eyewear.
In April 2024, Plastic Bank and CooperVision renewed their net plastic neutrality alliance through 2026. This extension has helped the alliance to comprise a vision care program to offer vouchers and screenings for complimentary glasses and eye evaluations for eligible Plastic Bank members in Indonesia.
In October 2023, Boehringer Ingelheim and ZEISS Medical Technology declare their long-term alliance to create predictive analysis to allow early detection of eye illnesses and customized treatments to avoid vision loss for individuals with severe eye ailments.

Vision Care Market Report Snapshots

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Vision Care Market size was valued at USD 67.03 billion in 2019 and is poised to grow from USD 69.3 billion in 2023 to USD 93.55 billion by 2031, growing at a CAGR of 3.39% in the forecast period (2024-2031).

The vision care market is a speedily evolving and a competitive market impacted by factors like the rising cases of eye-associated illnesses and the growing elderly population. The leading players in the market, comprising CooperVision, Johnson & Johnson, and EssilorLuxottica are presently dominating due to their wide offerings in contact lenses domain and eyewear segments. Other players are seen to be focused on innovations and advanced technologies like smart eyewear and digital eye care. the key marketing strategies witnessed in the market include alliances among players to expand product reach and technological competencies. Overall, companies are actively investing in R&D to maintain their competitive edge. 'ESSILORLUXOTTICA ', 'Bausch Health', 'The Cooper Companies Inc', 'Novartis AG', 'Johnson & Johnson', 'Carl Zeiss Meditec AG', 'Luxottica Group S.p.A.', 'Hoya Corporation', 'Alcon, Inc.', 'Safilo Group S.p.A.', 'GrandVision N.V.', 'Menicon Co., Ltd.', 'Topcon Corporation', 'Nidek Co., Ltd.', 'Shamir Optical Industry Ltd.', 'Charmant Group', 'Marcolin S.p.A.', 'Rodenstock GmbH', 'Seiko Optical Products Co., Ltd.', 'Vision Service Plan (VSP)'

Initiatives for educating patients and the public regarding the significance of regular eye examinations and advanced eye care is increasing the need for more improved vision care products and treatments. Also, information distribution via online platforms and social media has increased awareness among consumers regarding regular eye care and health. This encourages better engagement with diverse eye care services.

Remote Eye Care and Telehealth: Patients can experience preliminary evaluations with mobile applications or web platforms that allow consultations and basic vision tests without letting the patient visit clinics or specialized eye care centers. Remote monitoring of chronic illnesses can be facilitated via telehealth, allowing adjustments and regular check-ups to treatments. Telehealth also enhances access in underserved areas, covering a larger audience for eye care.

Geographically, North America dominated the market in the previous years and is expected to lead over the forecast period owing to growing awareness of eye health, developed healthcare infrastructure, and growing geriatric population. There is a major awareness of the significance of timely eye examinations and vision care, thus impacting the demand for services and products. The region brags about being technologically developed and holding an established healthcare infrastructure and access to superior technologies. This allows the availability of more innovative solutions for vision care. The growing senior population in the region is also majorly demanding eyewear treatments and corrective solutions. The key players profiled in the region include Johnson & Johnson Vision, EssilorLuxottica, Alcon, CooperVision, Zeiss Vision, Hoya Vision Care, and more.

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Vision Care Market Size, Share, Growth Analysis, By Product(Spectacle Lenses, Contact Lenses, Cleaning & Disinfecting Solutions), By Distribution channel(Retail Stores, Online Stores, Hospital & Clinics), By Region - Industry Forecast 2024-2031

Vision Care Market Competitive Landscape

Vision Care Market Report Snapshots

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What is the global market size of Vision Care Market?

Who are the key vendors in the Vision Care Market?

What is the key driver of Vision Care Market?

What is the key market trend for Vision Care Market?

Which region accounted for the largest share in Vision Care Market?

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