Eye Care Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F

The Eye Care Market was valued at USD 67.71 Billion in 2024, and is expected to reach USD 95.65 Billion by 2030, rising at a CAGR of 6.07%. The eye is an integral component of the human body, facilitating vision and aiding in the processing of visual information. Eye care encompasses various treatments and interventions aimed at addressing vision issues. For instance, according to WHO statistics published in 2023, approximately 2.2 billion people globally experience vision impairment, with an estimated 1.09 billion cases of presbyopia among middle-aged and older adults. This rising prevalence highlights a growing need for vision care products and services, driving increased demand in the global eye care market to address age-related and general visual health issues.

Eye care products encompass a wide range, including contact lenses, eyeglass lenses and frames, and sunglasses. Eye care is a comprehensive term encompassing diverse processes that contribute to maintaining healthy and functional eyes. The primary objective of regular eye care is to ensure individuals achieve optimal visual acuity. A comprehensive eye health strategy entails elements such as education, regular health maintenance, and personalized care plans to address any vision concerns. The eye care encompasses surgical interventions to rectify visual impairments, with laser-assisted in situ keratomileusis (LASIK) surgery being a notable innovation in this field. While surgery may eliminate the need for corrective lenses in certain cases, it is important to note that not everyone requires vision correction.

Key Market Drivers

High Prevalence of Cataracts Diseases

As cataracts continue to become increasingly prevalent worldwide, the market for cataract treatment and eye care is poised to witness substantial growth in the coming years. The rising incidence of cataracts has led to a surge in demand for vision correction and eye health services, further contributing to the expansion of the industry. The anticipated increase in the prevalence of various eye diseases is expected to serve as a critical driving factor for the market's growth.

Due to the high prevalence of cataract diseases, cataract surgery has become the most commonly performed surgical procedure worldwide, with approximately 28 million operations conducted annually. However, only 10%-15% of patients receive advanced optical intraocular lenses (IOLs) designed to correct astigmatism and presbyopia, indicating a significant gap in the adoption of premium vision-enhancing solutions despite the widespread need.

This emerging trend underscores the utmost importance of addressing the growing need for not only effective cataract treatments but also comprehensive eye care solutions to meet the evolving demands of patients on a global scale. By staying at the forefront of research and innovation, healthcare providers and industry stakeholders can better equip themselves to cater to the diverse needs of individuals affected by cataracts and various other vision-related conditions. This holistic approach will not only enhance the quality of life for patients but also foster advancements in the field of ophthalmology, ultimately improving the overall eye health of populations worldwide.

Key Market Challenges

Limitations In Eye care Products

One of the key factors that hampers the growth of the eye care market is the limitations in eye care products. While contact lenses offer convenience, they can sometimes cause irritation to the eyes, especially for individuals with sensitive eyes. If contact lenses are not properly cleaned or worn for extended periods, they can lead to medical conditions such as keratitis. Another aspect to consider is the cost, as daily disposable contact lenses can be more expensive compared to purchasing a regular pair of glasses. These factors, coupled with contact lens-related discomfort, may even prompt individuals to explore vision correction surgery as an alternative. It is important to acknowledge these limitations as they have the potential to hinder the market's growth during the forecast period.

Key Market Trends

Frequent Innovative Product Launches

Frequent innovative product launches is one of the key eye care market trends contributing to market growth. This trend is driven by the increasing demand for advanced treatment options and high-quality eye care products. With the growing awareness among consumers about the importance of eye health, the market has witnessed a surge in the number of product launches aimed at providing innovative solutions for various vision-related issues.

Typically, the increased frequency of product launches rises the interest levels of prospective consumers who tend to follow market innovations for optimum treatment or required products. For instance, in June 2021, Johnson and Johnson, a leading player in the eye care market, launched the Tecnis Synergy Toric II IOL. These advanced PC-IOLs are specifically designed for cataract patients, offering enhanced near vision and improved continuous vision.

By addressing the specific needs of cataract patients, this new product has garnered significant attention and positive reviews from both patients and healthcare professionals. Such cumulative product launches not only meet the evolving needs of consumers but also generate significant consumer interest, which in turn increases the revenue of the global eye care market during the forecast period. As the market continues to witness advancements in technology and innovation, the future outlook for the eye care industry appears promising, with a wide range of innovative products expected to be introduced to address the diverse needs of consumers worldwide.

Report Scope:

In this report, the Global Eye Care Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Eye Care Market, By Product Type:

• Eyeglasses
• Eye Drops
• Contact Lens
• Intraocular Lens
• Eye Vitamins
• Others

Eye Care Market, By Eye Drops:

• Prescription
• Over The Counter

Eye Care Market, By Coating:

• Anti-Glare
• UV Coating
• Others

Eye Care Market, By Lens Material:

• Polycarbonate
• Normal Glass
• Trivex
• Others

Eye Care Market, By Distribution Channel:

• Retail Stores
• E-commerce
• Clinics
• Hospitals

Eye Care Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Eye Care Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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