Global Vision Care Market Outlook
Market Size and Growth: The Global Vision Care Market is projected to reach US$ 102.15 Billion by 2030, with a CAGR of 4.70% from 2024 to 2030.
Market Overview: Vision care is becoming increasingly important due to the growing use of screens and digital devices. Good vision is essential for educational attainment, workplace productivity, and overall quality of life. Regular eye examinations can help detect early signs of eye diseases, preventing vision loss and promoting safety, particularly in activities like driving.
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Market Drivers:
- Growing Geriatric Population: The aging population is a significant driver of the global vision care market, as older individuals often require vision correction due to presbyopia and other age-related issues.
- Increasing Incidence of Vision Problems: Vision issues such as myopia, hyperopia, astigmatism, and presbyopia are becoming more common, driving the demand for vision care products and services.
- Technological Advancements: Innovations in vision care, including advanced materials for lenses and smart technologies, are improving visual experiences and eye health.
Market Trends:
- Mobile E-Learning: The mobile e-learning segment is rapidly growing due to the convenience and accessibility offered by smartphones and tablets, driving the demand for vision care products to address digital eye strain.
- Government Initiatives: Initiatives like “VISION 2021 – The Right to Sight” are raising awareness about eye health and promoting accessibility to vision care services.
Key Players: Leading companies in the Global Vision Care Market include Essilor International, Johnson & Johnson Services, Inc., Bausch Health Companies, Inc., Novartis International AG, Grand Vision, Carl Zeiss, Valeant Pharmaceuticals, Paragon Vision Science, and Menicon.
Market Breakdown
Product Type:
- Glass Lenses
- Contact Lenses
- Intraocular Lenses
- Contact Solutions
- Lasik Equipment
- Artificial Tears
Treatment:
- Laser Therapy
- Surgery
- Medication
Distribution Channel:
- Retail Stores
- E-Commerce
- Clinics
- Hospitals
- Others
Country:
- North America
- United States
- Canada
- Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherlands
- Turkey
- Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Malaysia
- Indonesia
- Australia
- New Zealand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
United States Market: The United States is expected to lead the global vision care market due to its advanced healthcare infrastructure, technological innovation, and high prevalence of vision-related issues among its aging population.
Recent Developments
- Bausch + Lomb Corporation: Acquired XIIDRA (lifitegrast ophthalmic solution) 5% from Novartis, a non-steroid eye drop for treating dry eye disease.
- Other Companies: Continuously innovate to offer better vision care products and services, driven by advancements in technology and changing consumer needs.
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