IMARC Group, a leading market research company, has recently released a report titled “Vision Care Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global vision care market forecast, share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the vision care market?
The global vision care market size reached US$ 69.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 85.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.39% during 2023-2028.
Vision care refers to a comprehensive range of services and products aimed at preserving and enhancing the visual health and well-being of individuals. It encompasses various aspects, including preventive measures, diagnostics, treatment, and the provision of eyewear solutions such as glasses and contact lenses. One of the primary goals of vision care is to prevent and address vision-related issues and disorders, ensuring that individuals maintain optimal eyesight throughout their lives. Regular eye examinations play a crucial role in detecting and addressing vision problems early on, thus preventing more serious conditions from developing. Additionally, vision care professionals, such as optometrists and ophthalmologists, are instrumental in diagnosing and treating conditions like myopia, hyperopia, astigmatism, and eye diseases like glaucoma and cataracts.
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Vision Care Market Trends and Drivers:
The global aging population is a significant driver of the vision care market. As individuals age, the risk of eye-related conditions such as presbyopia, cataracts, and age-related macular degeneration increases, leading to a greater need for vision correction and eye care services. Additionally, the proliferation of digital devices and prolonged screen time has led to an uptick in vision-related problems, including digital eye strain. This has boosted the demand for eyeglasses and contact lenses designed for computer and digital device users. Other than this, increased awareness about the importance of regular eye exams and vision health has encouraged more people to seek vision care services. Public health campaigns and educational initiatives have played a pivotal role in this regard. Besides this, advances in vision care technology, such as laser eye surgery and innovative lens materials, have expanded treatment options and improved outcomes. These advancements have attracted a broader consumer base seeking more effective solutions.
Report Segmentation:
The report has segmented the market into the following categories:
Product Type Insights:
Glass Lenses
Contact Lenses
Intraocular Lenses
Contact Solutions
LASIK Equipment
Artificial Tears
Distribution Channel Insights:
Retail Stores
Online Stores
Clinics
Hospitals
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Johnson & Johnson Services, Inc.
CooperVision, Inc. (Cooper Companies, Inc.)
Bausch Health Companies, Inc.
Essilor International
Novartis International AG
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