The global “Vision Care Market Size” is expected to reach USD 192.85 billion by 2026, exhibiting a CAGR of 5.6% during the forecast period. Increasing awareness regarding ocular diseases in emerging nations is expected to aid the growth of the market. The increasing adoption of vision care products will boost the vision care market growth in the forthcoming year. In addition, the growing cases of cataracts to create growth opportunities for the market. For instance, according to the World Health Organization, 51% of the world’s blindness is caused due to cataracts. In addition, the increasing risks of cataract incidence predominantly in developing as well as developed countries will fuel demand for vision care.
As per the report, published by Fortune Business Insights in a report, titled “Vision Care Market Size, Share & Industry Analysis, By Product Type (Eyewear, Intraocular Lens, and Ocular Health), By Distribution Channel (Retail Store, Online Store, Hospital & Clinics), and Regional Forecast, 2019-2026” the market size stood at USD 125.16 billion in 2018. The report offers dynamic insights on all the prevailing trends and characteristics of the vision care market. It provides an all-encompassing summary and analytical data of all the segments.
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Leading Players operating in the Vision Care Market are:
- Alcon (Part of Novartis AG)
- Johnson & Johnson Services, Inc.
- Bausch Health Companies Inc.
- Carl Zeiss
- Other Prominent Players
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Favorable Reimburusmnet policies to Stimulate Growth in North America
North America generated a revenue of USD 38.82 billion in 2018 and is expected to remain dominant during the forecast period. Higher adoption of vision care products in the region will further create opportunities for the market. Factors such as increasing awareness of the ocular disease, favorable reimbursement for cataract surgery, and increasing inclination towards eye care products is projected to further escalate the market’s revenue in North America. The market in Latin America is estimated to grow at a steady rate alongside the Middle East and Africa. The unmet need for vision care in Latin America is estimated to be one of the prime reasons for spurring the growth in the region.
The report covers:
- Global Vision Care Market trends, with detailed analysis on consumer trends & manufacturer trends.
- Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
- Key areas of investments identifying market opportunities and challenges in forecast timeframe.
- Competitive analysis of the industry players along with the overview on strategic management.
- Comprehensive company profiles of the major industry players.
FDA Approval for Pargon’s New Manufacturing Facility to Spur Sales Opportunities
The approval of Paragon Vision Science’s newly-constructed contact lens manufacturing site in suburban Phoenix by the U.S. Food and Drug Administration (FDA) will boost the vision care market trends. For instance, The facility will produce advanced ortho-k products such as Paragon CRT® for use in the United States. The new site is more than double the size of the company’s current plant in nearby Mesa, Arizona.
Furthermore, the launch of TECNIS Synergy IOL by Johnson and Johnson’s vision division will foster the growth of the market. For instance, Johnson and Johnson’s vision division launched TECNIS Synergy IOL, an advanced intraocular lens that provides continuous high-contrast vision correction for patients with cataracts from far through near, even in low-light conditions. In addition, the increasing accessibility of spectacles and sunglasses owing to the affordability in emerging nations will further accelerate the growth of the market.
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Detailed Table of Content:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
- Executive Summary
- Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
- Key Insights
4.1. Introduction of New Products / Approvals (by Major Players)
4.2. Epidemiology of Ocular Disease – For Key Countries, 2018
4.3. Key Industry Developments – Mergers, Acquisitions, and Partnerships, 2018
4.4. Snapshot: U.S Reading Glasses Market, 2018
4.5. Key Trends in Vision Care Market
4.6. Key Pipeline Products
- Global Vision Care Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Product Type
188.8.131.52. Contact Lens
5.2.2. Intraocular Lenses
5.2.3. Ocular Health
5.3. Market Analysis, Insights and Forecast – By Distribution Channel
5.3.1. Retail Store
5.3.2. Online Store
5.3.3. Hospitals and Clinics
5.4. Market Analysis, Insights and Forecast – By Region
5.4.1. North America
5.4.3. Asia Pacific
5.4.4. Latin America
5.4.5. Middle East & Africa
- North America Vision Care Market Analysis, Insights and Forecast, 2015-2026
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Vision Care Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the Vision Care Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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