Global Vision Care Market

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 Regional Insights

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.  

Asia-Pacific is the fastest-growing region in the global vision care market due to speedy urbanization, growing middle class population, and increased awareness. Growing urbanization is propelling lifestyle changes among the younger population and adults, thus impacting increased cases of vision illnesses that demand more vision care solutions. The growing middle-class population with increasing spending power is fueling the demand and purchase of wellness and health, comprising eye care. Furthermore, the rising awareness regarding eye health and significance of regular check-ups is fueling the demand for more solutions and vision care products. These factors are considerably driving the market in the region.

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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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Global Vision Care Market

Report ID: SQSG35B2018

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