Vision Care Market Report 2024 | Size, and Trends Forecast by 2032

Global Vision Care Industry: Key Statistics and Insights in 2024-2032

Vision Care Industry

Summary:

• The global vision care market size reached USD 71.6 Billion in 2023.
• The market is expected to reach USD 93.9 Billion by 2032, exhibiting a growth rate (CAGR) of 3% during 2024-2032.
• North America leads the market, accounting for the largest vision care market share.
• Glass lenses account for the majority of the market share in the product type segment due to their durability.
• Retail stores hold the largest share in the vision care industry.
• The rising aging population is a primary driver of the vision care market.
• Technological advancements and awareness and education are reshaping the vision care market.

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Industry Trends and Drivers:

• Aging population:

Elderly people are more susceptible to age-related eye conditions, such as cataracts, glaucoma, macular degeneration, and presbyopia. These conditions often require vision correction or surgical intervention, driving the demand for vision care products and services. They are more likely to undergo regular eye examinations to monitor and manage their eye health. This leads to an increasing need for optometric services, prescription eyewear, and contact lenses. Aging individuals may also experience deteriorating eyesight, necessitating the use of eyeglasses or contact lenses for vision correction.

• Awareness and education:

Education campaigns and public awareness initiatives are helping individuals understand the importance of regular eye examinations as part of their overall healthcare routine. Awareness programs emphasize the benefits of early detection and prevention of eye diseases and conditions, leading more people to schedule eye exams to identify issues at an earlier stage. In addition, educational efforts often target parents and caregivers, stressing the importance of early eye exams for children to detect and address vision problems that could affect their learning and development.

• Technological advancements:

High-tech diagnostic tools and equipment, such as optical coherence tomography (OCT) and corneal topography devices, enable eye care professionals to diagnose eye conditions with greater precision. This enhances the quality of care and allows for early detection of issues. Technologies like laser-assisted in situ keratomileusis (LASIK) and photorefractive keratectomy (PRK) are revolutionizing vision correction by reshaping the cornea to correct refractive errors like myopia, hyperopia, and astigmatism. These procedures offer patients a chance to reduce or eliminate the need for glasses or contact lenses.

We explore the factors propelling the vision care market growth, including technological advancements, consumer behaviors, and regulatory changes.

Vision Care Market Report Segmentation:

Breakup By Product Type:

• Glass Lenses
• Contact Lenses
• Intraocular Lenses
• Contact Solutions
• LASIK Equipment
• Artificial Tears

Glass lenses account for the majority of shares as they offer excellent ultraviolet (UV) protection, shielding the eyes from harmful ultraviolet rays.

Breakup By Distribution Channel:

• Retail Stores
• Online Stores
• Clinics
• Hospitals

Retail stores dominate the market due to the rising focus on enhanced convenience and brand visibility.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America enjoys the leading position owing to a large market for vision care driven by the presence of advanced healthcare infrastructure.

Top Vision Care Market Leaders:

The vision care market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:

• Johnson & Johnson Services, Inc.
• CooperVision, Inc. (Cooper Companies, Inc.)
• Bausch Health Companies, Inc.
• Essilor International
• Novartis International AG

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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