The global vision care market is anticipated to grow at a considerable CAGR of 5.4% during the forecast period (2021-2027). The market growth is majorly attributed to the increase in geriatric population across the globe. According to various studies, with increase in age, the eyes-related issues including visual impairment occurs. With increasing age, eyes generally become more rigid and lose focal abilities, which results in need for vision care products. According to the reports of World Health Organization, as of February 2021, there were more than 2.2 billion people across the globe who suffered from visual impairments. It was also revealed that the prevalence of vision impairment was more in people aged 50 or more. Moreover, according to the Centres for Disease Control and Prevention (CDC) more than 4.2 million Americans aged 40 years and older had a vision problem or were blind and the primary reason for the same were several primarily age-related eye diseases. Thus, rising aging population is expected to result in increased need for vision care products, boosting the growth of the market.
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Furthermore, technological innovations in eye care devices, rise in diabetic patients leading to diabetic retinopathy, and increase in the number of populations working on desktop are also some of the contributing factors fuelling the growth of the market.
Market Coverage
- The market number available for – 2019-2026
- Base year- 2020
- Forecast period- 2021-2027
Segment Covered-
- By Product
- By Distribution Channel
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- NOVARTIS INTERNATIONAL AG, Alcon Vision LLC, Bausch & Lomb Inc., EssilorLuxottica, Johnson & Johnson Vision Care, Inc.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Vision Care Market Report Segment
By Product
- Eye Glasses
- Contact Lenses
- Intraocular Lenses
- Artificial Tears
By Distribution Channel
- Retail Stores
- Online Stores
- Hospitals & Clinics
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
