The global vision care market size attained a value of USD 63.1 billion in 2022, driven by the significant increase in the usage of electronic devices. The market is expected to grow at a CAGR of 3% during the forecast period of 2023-2031 to attain a value of USD 82.4 billion by 2031.
The uses of vision care include:
Firstly, the increasing prevalence of vision disorders and eye conditions, such as myopia, hyperopia, presbyopia, and cataracts, drives the demand for vision care products and services. Factors such as aging populations, lifestyle changes, and increased screen time contribute to the rising incidence of these conditions. As a result, there is a growing need for vision correction solutions and eye care services, including prescription eyewear, contact lenses, and ophthalmic surgeries.
Secondly, technological advancements have significantly impacted the vision care market. Innovations in lens materials, design, and manufacturing techniques have led to the development of more advanced and comfortable eyewear options. This includes the introduction of high-index lenses, aspheric lenses, and progressive lenses that provide enhanced vision correction and aesthetics. Additionally, the advancement of contact lens technologies, such as silicone hydrogel lenses and daily disposables, has improved comfort and convenience for contact lens wearers.
Moreover, the increasing adoption of refractive surgeries, such as LASIK (laser-assisted in-situ keratomileusis), has contributed to the growth of the vision care market. LASIK and other laser eye surgeries offer a permanent vision correction solution for individuals with refractive errors, reducing their reliance on glasses or contact lenses.
Furthermore, the growing awareness and emphasis on preventive eye care have propelled market growth. Regular eye examinations, early detection of eye conditions, and the promotion of eye health contribute to the increased demand for eye care services. With a greater emphasis on overall well-being and proactive healthcare, individuals are seeking comprehensive eye care to maintain good vision and prevent vision-related complications.
Additionally, the expansion of distribution channels, such as e-commerce platforms and online eyewear retailers, has enhanced accessibility to vision care products. Consumers have greater convenience and a wider range of choices when purchasing eyewear or contact lenses, which has further fuelled market growth.
However, challenges such as high costs associated with certain vision care procedures, affordability issues, and the lack of access to eye care in certain regions remain. Efforts to address these challenges, improve access to affordable vision care, and raise awareness about the importance of regular eye examinations will be crucial for the continued growth of the vision care market.
In conclusion, the vision care market is expected to experience sustained growth due to the increasing prevalence of vision disorders, technological advancements, emphasis on preventive eye care, and expanding distribution channels. With a focus on innovation, accessibility, and quality eye care services, the market is poised for further expansion in the future.
Vision Care: Introduction
Vision care refers to the maintenance and enhancement of eye health and visual function through various practices, products, and services. It encompasses a range of activities aimed at preventing vision problems, diagnosing, and treating eye conditions, and providing corrective measures to improve visual acuity and overall eye health.The uses of vision care include:
- Eye Examinations: Vision care involves regular eye examinations conducted by optometrists or ophthalmologists. These examinations assess visual acuity, screen for refractive errors (e.g., myopia, hyperopia), detect and manage eye diseases (e.g., glaucoma, cataracts), and evaluate overall eye health. Routine eye exams are essential for early detection and prevention of vision problems
- Prescription Eyewear: Vision care provides corrective measures for refractive errors and other visual impairments. Prescription eyeglasses and contact lenses are prescribed based on the individual's visual needs, correcting near sightedness, farsightedness, astigmatism, or presbyopia. These corrective lenses improve visual acuity and enhance the quality of daily activities, such as reading, driving, and using digital devices
- Ophthalmic Surgeries: Vision care encompasses various surgical procedures performed by ophthalmologists to correct vision problems or treat eye conditions. This may include refractive surgeries (e.g., LASIK, PRK) to permanently reshape the cornea and reduce dependence on glasses or contact lenses, cataract surgeries to remove cloudy lenses and replace them with artificial intraocular lenses, or surgeries to address eye conditions like glaucoma or retinal disorders
- Eye Health Promotion: Vision care promotes eye health and emphasizes preventive measures to maintain good vision. This includes raising awareness about the importance of regular eye examinations, providing education on eye safety and proper eye care practices, and encouraging lifestyle modifications to reduce the risk of vision-related conditions (e.g., wearing protective eyewear, managing screen time, maintaining a healthy diet)
- Improved Visual Function: Vision care interventions, such as prescription eyewear or corrective surgeries, significantly enhance visual acuity and clarity, enabling individuals to see more clearly and perform daily tasks with greater ease and efficiency
- Early Detection and Treatment of Eye Conditions: Regular eye examinations as part of vision care facilitate early detection and treatment of eye diseases or conditions. Early intervention helps prevent or delay the progression of vision loss and allows for timely management of conditions that may have long-term implications for eye health
- Enhanced Quality of Life: Vision care contributes to an improved quality of life by optimizing visual function and reducing the impact of vision problems on daily activities, productivity, and overall well-being. Clear and comfortable vision allows individuals to engage fully in work, education, social interactions, and recreational activities
- Eye Health Maintenance: Vision care emphasizes preventive measures and encourages healthy practices that promote good eye health. This includes managing risk factors, maintaining a balanced diet rich in eye-healthy nutrients, protecting the eyes from injury or harmful ultraviolet (UV) rays, and being proactive in seeking regular eye care to monitor and maintain optimal eye health
Vision Care Market Segmentations
The market can be categorised into product type, indications, treatment type, end user, distribution channel, and region.Market Breakup by Product Type
Eyeglasses
- Single Vision
- Bifocal
- Progressive
Contact Lens
- Personalized/Custom
- Specific Care
- Single Vision
- Progressive Lenses
- Activity Lenses
Intraocular Lens
- Traditional/Monofocal
- Premium
- Phakic
Others
Market Breakup by Indications
- Refractive Error
- Glaucoma
- Diabetic Retinopathy
- Amblyopia
- Dry Eyes
- Others
Market Breakup by Treatment Type
- Surgery
- Laser Therapy
- Medications
- Others
Market Breakup by End User
- Eye Hospitals
- Ophthalmology Clinics
- Ambulatory Surgery Centres
- Others
Market Breakup by Distribution Channel
- Online Stores
- Retail Stores
- Others
Vision Care Market Breakup by Region
North America
- United States of America
- Canada
Europe
- United Kingdom
- Germany
- France
- Italy
- Others
Asia Pacific
- China
- Japan
- India
- ASEAN
- Australia
- Others
Latin America
- Brazil
- Argentina
- Mexico
- Others
Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Nigeria
- South Africa
- Others
Vision Care Market Scenario
The vision care market has witnessed steady growth and is expected to continue expanding in the coming years. Several factors contribute to the positive market scenario
.Firstly, the increasing prevalence of vision disorders and eye conditions, such as myopia, hyperopia, presbyopia, and cataracts, drives the demand for vision care products and services. Factors such as aging populations, lifestyle changes, and increased screen time contribute to the rising incidence of these conditions. As a result, there is a growing need for vision correction solutions and eye care services, including prescription eyewear, contact lenses, and ophthalmic surgeries.
Secondly, technological advancements have significantly impacted the vision care market. Innovations in lens materials, design, and manufacturing techniques have led to the development of more advanced and comfortable eyewear options. This includes the introduction of high-index lenses, aspheric lenses, and progressive lenses that provide enhanced vision correction and aesthetics. Additionally, the advancement of contact lens technologies, such as silicone hydrogel lenses and daily disposables, has improved comfort and convenience for contact lens wearers.
Moreover, the increasing adoption of refractive surgeries, such as LASIK (laser-assisted in-situ keratomileusis), has contributed to the growth of the vision care market. LASIK and other laser eye surgeries offer a permanent vision correction solution for individuals with refractive errors, reducing their reliance on glasses or contact lenses.
Furthermore, the growing awareness and emphasis on preventive eye care have propelled market growth. Regular eye examinations, early detection of eye conditions, and the promotion of eye health contribute to the increased demand for eye care services. With a greater emphasis on overall well-being and proactive healthcare, individuals are seeking comprehensive eye care to maintain good vision and prevent vision-related complications.
Additionally, the expansion of distribution channels, such as e-commerce platforms and online eyewear retailers, has enhanced accessibility to vision care products. Consumers have greater convenience and a wider range of choices when purchasing eyewear or contact lenses, which has further fuelled market growth.
However, challenges such as high costs associated with certain vision care procedures, affordability issues, and the lack of access to eye care in certain regions remain. Efforts to address these challenges, improve access to affordable vision care, and raise awareness about the importance of regular eye examinations will be crucial for the continued growth of the vision care market.
In conclusion, the vision care market is expected to experience sustained growth due to the increasing prevalence of vision disorders, technological advancements, emphasis on preventive eye care, and expanding distribution channels. With a focus on innovation, accessibility, and quality eye care services, the market is poised for further expansion in the future.
Key Players in the Global Vision Care Market
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the vision care market are as follows:- CooperVision
- Essilor
- Johnson & Johnson Vision Care, Inc
- LUXOTTICA GROUP
- Novartis AG
- Bausch & Lomb Incorporated
- Menicon Co., Ltd
- Carl Zeiss AG
- EssilorLuxottica
- Zydus Cadila
- Rayner Intraocular Lenses Limited
- GrandVision
- Blanchard Lab
- CHEMIGLAS CORP
- Fielmann AG
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market15 Value Chain Analysis17 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
6 Snapshot
8 Global Vision Care Market Analysis
9 North America Vision Care Market Analysis
10 Europe Vision Care Market Analysis
11 Asia Pacific Vision Care Market Analysis
12 Latin America Vision Care Market Analysis
13 Middle East and Africa Vision Care Market Analysis
14 Market Dynamics
16 Competitive Landscape
Companies Mentioned
- Johnson & Johnson Vision
- CooperVision
- Essilor International S.A.
- Novartis AG
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 147 |
| Published | May 2023 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value ( USD | $ 65 Billion |
| Forecasted Market Value ( USD | $ 82.4 Billion |
| Compound Annual Growth Rate | 3.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 4 |
