Market Highlights
According to MRFR analysis, Vision
Care Market is expected to register a CAGR of 4.48% during the
forecast period of 2019 to 2025 was valued at USD 52,000 Million in
2018.
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. The vision care has benefited resolve ophthalmic
disorders and diseases.
However, unawareness about the
vision care products and services is likely to hamper the growth of the global
vision care market during the forecast period.
Several market players currently
dominate the global vision care market. The key players are involved in product
launches and strategic collaborations to strengthen their market positions.
Segmentation
The global vision care market has
been segmented based on product type, indication, treatment, and end user.
The market, based on product type,
has been divided into contact lenses, eyeglasses, intraocular lenses (IOL), and
others. The contact lens segment has been further classified as corrective
lens, therapeutic lens, cosmetic, and lifestyle-oriented lens. The contact lens
is likely to hold the maximum market share in the global vision care market,
owing to the unwillingness of people to use the eyeglasses. Eyeglasses are
further segmented single vision, bifocal, progressive, sunglasses. The
intraocular lens (IOL) segment is further segmented into Premium,
Traditional/Mono-focal, Phakic.
The global vision care market on the
basis of indication has been segregated into refractive error cataract,
glaucoma, diabetic retinopathy, amblyopia, dry eyes, and others.
On the basis of treatment, the
global vision care market is mainly segmented into Surgery, medication, and
others.
The end user segment of the market
consists of eye hospitals & clinics, ambulatory surgery centers, optical
stores, and others. Optical stores segment is expected to hold the largest
share of the market as these centers are primary locations for patients utilize
the vision care products.
Key Players
Some of the key players
in the Global Vision Care Market are Cadila Healthcare (Zydus Pharmaceuticals, Inc.),
Johnson & Johnson Services, Inc., Rayner Surgical Group Limited (Rayner
Intraocular Lenses Limited), Menicon, Carl-Zeiss-Stiftung (Carl Zeiss).
ESSILORLUXOTTICA, Bausch Health (Bausch & Lomb
Incorporated), The Cooper Companies, Inc (Cooper Vision), NOVARTIS AG.
Regional Analysis
The market has been divided, by
region, into the Americas, Europe, Asia-Pacific, and the Middle East &
Africa.
The Americas is anticipated to hold
the largest market share owing to the increasing awareness about advanced
vision care procedures. The vision care market is divided into the Americas has
further been branched into North America and Latin America, with the North
American market being divided into the US and Canada.
The vision care market in
Asia-Pacific has been segmented into Japan, China, India, South Korea,
Australia, and the rest of Asia-Pacific. Asia-Pacific is anticipated to hold
the largest market share owing to the increasing number of increasing geriatric
population and rising adoption of technological advancements in developing
regions. The European vision care market has been categorized as Western Europe
and Eastern Europe. The Western European market has further been classified as
Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The
vision care market in the Middle East & Africa has been divided into the
Middle East and Africa.
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