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. Vision care has benefited resolve ophthalmic disorders and diseases.
The global vision care market size can cross USD 70,818.48 million by 2025. It is expected to achieve this benchmark at a CAGR of 4.48% over the forecast period.
Vision care includes the treatment of eyes and other optical disorders. The global vision care market report by Market Research Future (MRFR) outlines drivers, challenges, trends, opportunities, socio-economic factors, and other business metrics for end-users for the period of 2019 to 2025 (forecast period). The impact of the COVID-19 pandemic has been noted and suggestive measures provided for interrupted supply chain and sales.
The large geriatric population and other demographics requiring eye care due to the constant focus on computers and other electronic devices can drive the demand in the market. The use of social media platforms by businesses to reach customers simultaneously as well as cater to their changing needs can bode well for the market.
The global vision care market is segmented by product type, indication, treatment, and end-user.
The global vision care market based on product type is broadly segmented into a contact lens, eyeglasses, intraocular lens (IOL), contact lens solutions, and others.
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Contact lenses are used as an aid to improve the physical make-up of a person and an alternative to glasses. Contact lenses are sub-segmented into the corrective lens, therapeutic lens, cosmetic, and lifestyle-oriented lens. These type of contact lenses are available as per the customization of color and design patterns along with the power of the lenses
Eyeglasses held the largest share in the global vision care market. This segment is further segmented into sunglasses, bifocal, single vision, and progressive.
By indication, it is segmented into glaucoma, diabetic retinopathy, refractive error, amblyopia, dry eyes, and others.
The global vision care market based on end user is segmented into optical stores, eye hospitals & clinics, ambulatory surgery centers, and others. Eye hospitals and clinics hold the largest market share owing to the rising number of eye care hospitals and clinics. On the other hand, optical stores are the fastest-growing segment owing to the easy accessibility to vision care products and services and a large customer base.
By region, the market covers opportunities for the regions of the Americas, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).
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The Americas holds the largest market share in the global vision care market owing to technological advancements in vision care products and services It can continue to dominate the market till the end of the forecast period.
Europe holds a significant market share for the global vision care market owing to the rising prevalence of vision impairment disorders.
Menicon, Cadila Healthcare, NOVARTIS AG, Johnson & Johnson Services, Inc., The Cooper Companies, Inc, Bausch Health, Rayner Surgical Group Limited, ESSILORLUXOTTICA, and Carl-Zeiss-Stiftung are noteworthy players of the global vision care market.
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