Market Highlights
According to MRFR analysis, Vision Care Market Forecast 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.
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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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