Vision Care Market Size, Trends, Revenue Share Analysis, Forecast Till 2030
According to MRFR analysis, Vision Care Market Size is expected to register a CAGR of 4.48% during the forecast period of 2019 to 2025 was valued at USD 52,000 Million in 2018.
Vision care
plays an essential role in ophthalmology. The vision care products and
procedures are used for treating the indications. For instance, the prevalence
of vision impairment is about 1,000 million cases globally. The vision care has
benefited resolve ophthalmic disorders and diseases.
However,
unawareness about the vision care products and services is likely to hamper the
growth of the global vision care market during the forecast period.
Several
market players currently dominate the global vision care market. The key
players are involved in product launches and strategic collaborations to
strengthen their market positions.
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Segmentation
The global
vision care market has been segmented based on product type, indication,
treatment, and end user.
The market,
based on product type, has been divided into contact lenses, eyeglasses,
intraocular lenses (IOL), and others. The contact lens segment has been further
classified as corrective lens, therapeutic lens, cosmetic, and
lifestyle-oriented lens. The contact lens is likely to hold the maximum market
share in the global vision care market, owing to the unwillingness of people to
use the eyeglasses. Eyeglasses are further segmented single vision, bifocal,
progressive, sunglasses. The intraocular lens (IOL) segment is further
segmented into Premium, Traditional/Mono-focal, Phakic.
The global
vision care market on the basis of indication has been segregated into
refractive error cataract, glaucoma, diabetic retinopathy, amblyopia, dry eyes,
and others.
On the
basis of treatment, the global vision care market is mainly segmented into
Surgery, medication, and others.
The end
user segment of the market consists of eye hospitals & clinics, ambulatory
surgery centers, optical stores, and others. Optical stores segment is expected
to hold the largest share of the market as these centers are primary locations
for patients utilize the vision care products.
Key
Players
Some of the
key players in the Global Vision Care Market are Cadila Healthcare (Zydus Pharmaceuticals,
Inc.), Johnson & Johnson Services, Inc., Rayner Surgical Group Limited
(Rayner Intraocular Lenses Limited), Menicon, Carl-Zeiss-Stiftung (Carl
Zeiss).ESSILORLUXOTTICA, Bausch Health (Bausch & Lomb Incorporated), The
Cooper Companies, Inc (Cooper Vision), NOVARTIS AG.
Regional
Analysis
The market
has been divided, by region, into the Americas, Europe, Asia-Pacific, and the
Middle East & Africa.
The
Americas is anticipated to hold the largest market share owing to the
increasing awareness about advanced vision care procedures. The vision care
market is divided into the Americas has further been branched into North
America and Latin America, with the North American market being divided into
the US and Canada.
The vision
care market in Asia-Pacific has been segmented into Japan, China, India, South
Korea, Australia, and the rest of Asia-Pacific. Asia-Pacific is anticipated to
hold the largest market share owing to the increasing number of increasing
geriatric population and rising adoption of technological advancements in
developing regions. The European vision care market has been categorized as
Western Europe and Eastern Europe. The Western European market has further been
classified as Germany, France, the UK, Italy, Spain, and the rest of Western
Europe. The vision care market in the Middle East & Africa has been divided
into the Middle East and Africa.
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