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Pulished Date October, 2021
ID: 12287
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Global Vision Care Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Product Type, Distribution Channel, Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) – Industry Forecast (2021 to 2026)

Pulished: October, 2021
ID: 12287
Pages: 190

Global Vision Care Market Size (2021 to 2026)

The size of the global vision care market is forecasted to be growing at a CAGR of 3.48% during the forecast period and worth USD 74.04 billion by 2026 from USD 62.40 billion in 2021.

The word "vision care" refers to the various procedures that maintain the eye healthy and functioning. The primary purpose of regular eye care is to ensure that a person's vision is as clear as possible. This eye health approach includes various components, such as education, standard health maintenance, and care plans to aid in the treatment of any vision disorders that may arise. Writing, reading, and viewing are just a few of the things that vision aids in. It also affects a person's capacity to interact and collaborate with others.

The number of persons suffering from vision-related disorders such as glaucoma, cataracts, retinal detachment, and conjunctivitis has increased significantly. Growing aging populations, rising pollution levels, and sedentary lifestyles can all be blamed for this. Vision treatment includes blindness, allergies, color blindness, sties, eye ailments such as glaucoma and macular degeneration (AMD), surgical treatments such as cataract surgery, corneal transplantation, astigmatism, hazy vision, hypermetropia, and myopia, and vision issues.

MARKET DRIVERS:

The growth of the global vision care market is predicted to be aided by factors such as an aging population that is more prone to eye illnesses and technical advancements in eye care devices.

Eye diseases have been linked to the increased usage of electronic devices for day-to-day functions. The use of technology has risen primarily among children in recent years. Excessive usage of electronic devices can cause eye problems. This is expected to fuel demand for vision care products indirectly. The expansion of the vision care market is aided by a considerable increase in electronic devices such as laptops, personal computers, smartphones, and tablets, among other devices, increasing the prevalence of vision-related diseases.

Growing technological advancements in vision care equipment, an increase in the number of therapy approvals, and the prevalence of diabetes among many population groups will all contribute to the vision care market's growth during the forecast period. In addition, the growing popularity of contact lenses as a superior alternative to spectacles due to improved comfort and vision has increased demand for better vision care worldwide. Changing lifestyles, greater brand awareness, rising pollution, and growing consumer awareness about the value of a quality pair of glasses positively impact the vision care market's growth during the forecast period.

MARKET RESTRAINTS:

The expansion of this global vision care market is expected to be hampered by a lack of awareness about eye care in rural areas and expensive treatment costs. Furthermore, adverse effects associated with certain eye care products are posing a threat to the growth of the global vision care market. The loss of vision is seen as a severe health problem. One of the significant reasons challenging the vision care market's growth is the decreasing rate of eye care treatment.

Impact of COVID-19 on the global vision care market:

The outbreak of COVID-19, caused by a novel form of coronavirus, has been declared a global pandemic by the World Health Organization. People worldwide are gathering cleaning products such as hand sanitizer, disinfectant wipes, and bleach solutions as the new coronavirus outbreak grow. When stores run out of hand sanitizer, some people manufacture their own or use Vision Care as an alternative. Alcohol is the primary germ-killing agent in most store-bought Vision Care, though at a far lower concentration than is required to kill the new coronavirus. During the pandemic, sales and demand for blue light canceling and anti-fatigue lenses have increased. In addition, companies have implemented work-from-home models for their staff due to lockdown norms, resulting in more time spent on a desktop, laptop screen, and smartphone. These factors are projected to drive the global vision care market growth throughout the forecast period.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2020 to 2026

Base Year

2020

Forecast Period

2021 to 2026

Segments Covered

By Type, Distribution Channel, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

This research report on the global vision care market has been segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2026.

Vision Care Market – By Type:

  • Glass Lenses
  • Contact Lenses
  • Intraocular Lenses
  • Contact Solutions
  • LASIK Equipment
  • Artificial Tears

In 2020, the intraocular lenses segment had the largest market share, and it is predicted to continue to do so during the forecast period. The segment's expansion can be attributed to an increase in the number of cataract procedures performed around the world. However, because of reduced awareness and a lower incidence of detecting ocular health diseases like dry eye in developing nations, ocular health is expected to expand slower.

Vision Care Market – By Distribution Channel

  • Retail Stores
  • Online Stores
  • Clinics
  • Hospitals

In 2020, the fastest-growing segment was Online Stores (e-commerce), and it is predicted to continue to be the fastest-growing segment throughout the forecast period. When buying or selling products, e-commerce websites are increasingly preferred over the traditional brick-and-mortar channel. Users can also write and read product reviews on e-commerce websites, improving consumer experience and encouraging them to use e-commerce distribution channels. The growing popularity of online distribution has led to an increase in the number of online eyeglasses start-ups worldwide.

Vision Care Market – By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Geographically, the North American vision care market is estimated to dominate the global market due to the widespread adoption of vision care products, favorable reimbursement policies, and growing public awareness of the product's benefits in the region; the rise is attributable to technology developments and increasing healthcare spending by both individuals and governments, with the government accounting for a significant portion of the North American vision care industry. In addition, rural communities and low-income groups in the United States are at a higher risk of vision impairment than urban residents. As a result, market participants can concentrate on growing their regional presence to increase their market share.

The Asia-Pacific vision care market is expected to grow at the fastest rate in the forecast period due to the increasing number of research and development activities and the region's growing healthcare industry. The Asia Pacific vision care market is predicted to benefit from raising awareness of eye health, improved healthcare infrastructure, and widespread use of electronic devices in the region's emerging economies. Countries with the greatest concentration of geriatrics, such as Japan, are more susceptible to eye diseases such as glaucoma and cataract, driving demand for vision care products in the region.

Because of the rising frequency of vision-related illnesses such as myopia and hypermetropia in the region, the European vision care market is predicted to develop at a healthy rate through 2026. The expansion of the European eye care market is fueled by technological advancements in the field of ophthalmology, as well as world-class healthcare infrastructure.

KEY MARKET PARTICIPANTS:

Cooper Vision, Essilor, Johnson & Johnson, Novartis AG, Luxottica, Valeant Pharmaceuticals, Fielmann, Hongchen Optical, Hoya, Menicon, Rodenstock, All Pro Intraocular Lens, Blanchard, CHEMIGLAS, Seiko Group, Shanghai Conant Optics, Synergeyes, UltraVision and Wesley Jessen are a few of the noteworthy players in the global vision care market and profiled in this report.

RECENT MARKET DEVELOPMENTS:

  • Midwest Vision Partners joined forces with Rosenbaum Eye & Laser Center and its vision correction center, Michigan Laser Eye Associates, in February 2020 to provide medical and surgical eye treatment.
  • Mojo Vision stated in January 2020 that it is working on the Mojo Lens, the world's first true smart contact lens.
  • In September 2019, Johnson & Johnson's vision business introduced the ACUVUE range of Revitalens multi-purpose disinfecting solutions for contact lenses.
  1. Introduction                                 
    1. Market Definition                    
    2. Scope of the report                 
    3. Study Assumptions                 
    4. Base Currency, Base Year and Forecast Periods                           
  2. Research Methodology                                           
    1. Analysis Design                         
    2. Research Phases                      
      1. Secondary Research           
      2. Primary Research 
      3. Data Modelling     
      4. Expert Validation  
    3. Study Timeline                          
  3. Report Overview                                        
    1. Executive Summary                
    2. Key Inferences                       
  4. Market Dynamics                                       
    1. Impact Analysis                        
      1. Drivers      
      2. Restraints 
      3. Opportunities        
    2. Regulatory Environment                       
    3. Technology Timeline & Recent Trends                            
  5. Competitor Benchmarking Analysis                                    
    1. Key Player Benchmarking                     
      1. Market share analysis         
      2. Products/Service 
      3. Regional Presence
    2. Mergers & Acquisition Landscape                      
    3. Joint Ventures & Collaborations                        
  6. Market Segmentation                                              
    1. Global Vision Care Market, By Type
      1. Glass Lenses
      2. Contact Lenses
      3. Intraocular Lenses
      4. Contact Solutions
      5. LASIK Equipment
      6. Artificial Tears
      7. Market Size Estimations & Forecasts (2021-2026)   
      8. Y-o-Y Growth Rate Analysis              
      9. Market Attractiveness Index           
    2. Global Vision Care Market, By Distribution Channel
      1. Retail Stores
      2. Online Stores
      3. Clinics
      4. Hospitals
      5. Market Size Estimations & Forecasts (2021-2026)   
      6. Y-o-Y Growth Rate Analysis              
      7. Market Attractiveness Index         
  7. Geographical Landscape                                         
    1. Global Vision Care Market, By Region                 
    2. North America - Market Analysis (2021 - 2026)                            
      1. By Country              
        1. USA
        2. Canada
      2. By Type    
      3. By Target 
    3. Europe                         
      1. By Country              
        1. UK
        2. France
        3. Germany
        4. Spain
        5. Italy
        6. Rest of Europe
      2. By Type    
      3. By Target 
    4. Asia Pacific                  
      1. By Country              
        1. China
        2. India
        3. Japan
        4. South Korea
        5. South East Asia
        6. Australia & NZ
        7. Rest of Asia-Pacific
      2. By Type    
      3. By Target 
    5. Latin America                            
      1. By Country              
        1. Brazil
        2. Argentina
        3. Mexico
        4. Rest of Latin America
      2. By Type    
      3. By Target 
    6. Middle East and Africa                           
      1. By Country              
        1. Middle East
        2. Africa
      2. By Type    
      3. By Target 
  8. Key Player Analysis                                    
    1. Cooper vision
      1. Business Description           
      2. Products/Service 
      3. Financials 
      4. SWOT Analysis      
      5. Recent Developments       
      6. Analyst Overview 
    2. Essilor
    3. Johnson & Johnson
    4. Novartis AG
    5. Luxottica
    6. Valeant Pharmaceuticals
    7. Fielmann
    8. Hongchen Optical
    9. Hoya
    10. Menicon
    11. Rodenstock
    12. All Pro Intraocular Lens
    13. Blanchard
    14. CHEMIGLAS
    15. Seiko Group
    16. Shanghai Conant Optics
    17. Synergeyes
    18. UltraVision
    19. Wesley Jessen
  9. Market Outlook & Investment Opportunities
    1. Appendix
      1. List of Tables
      2. List of Figures
  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of type and distribution channel along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Vision Care Market, By Region, From 2021 to 2026 (USD Billion)
  2. Global Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  3. Global Glass Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  4. Global Contact Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  5. Global Intraocular Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  6. Global Contact Solutions Market, By Region, From 2021 to 2026 (USD Billion)
  7. Global LASIK Equipment Market, By Region, From 2021 to 2026 (USD Billion)
  8. Global Artificial Tears Market, By Region, From 2021 to 2026 (USD Billion)
  9. Global Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  10. Global Retail Stores Market, By Region, From 2021 to 2026 (USD Billion)
  11. Global Online Stores Market, By Region, From 2021 to 2026 (USD Billion)
  12. Global Clinics Market, By Region, From 2021 to 2026 (USD Billion)
  13. Global Hospitals Market, By Region, From 2021 to 2026 (USD Billion)
  14. North America Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  15. North America Glass Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  16. North America Contact Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  17. North America Intraocular Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  18. North America Contact Solutions Market, By Region, From 2021 to 2026 (USD Billion)
  19. North America LASIK Equipment Market, By Region, From 2021 to 2026 (USD Billion)
  20. North America Artificial Tears Market, By Region, From 2021 to 2026 (USD Billion)
  21. North America Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  22. North America Retail Stores Market, By Region, From 2021 to 2026 (USD Billion)
  23. North America Online Stores Market, By Region, From 2021 to 2026 (USD Billion)
  24. North America Clinics Market, By Region, From 2021 to 2026 (USD Billion)
  25. North America Hospitals Market, By Region, From 2021 to 2026 (USD Billion)
  26. United States Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  27. United States Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  28. Canada Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  29. Canada Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  30. Europe Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  31. Europe Glass Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  32. Europe Contact Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  33. Europe Intraocular Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  34. Europe Contact Solutions Market, By Region, From 2021 to 2026 (USD Billion)
  35. Europe LASIK Equipment Market, By Region, From 2021 to 2026 (USD Billion)
  36. Europe Artificial Tears Market, By Region, From 2021 to 2026 (USD Billion)
  37. Europe Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  38. Europe Retail Stores Market, By Region, From 2021 to 2026 (USD Billion)
  39. Europe Online Stores Market, By Region, From 2021 to 2026 (USD Billion)
  40. Europe Clinics Market, By Region, From 2021 to 2026 (USD Billion)
  41. Europe Hospitals Market, By Region, From 2021 to 2026 (USD Billion)
  42. U.K. Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  43. U.K. Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  44. Germany Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  45. Germany Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  46. France Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  47. France Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  48. Italy Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  49. Italy Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  50. Spain Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  51. Spain Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  52. Asia Pacific Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  53. Asia Pacific Glass Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  54. Asia Pacific Contact Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  55. Asia Pacific Intraocular Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  56. Asia Pacific Contact Solutions Market, By Region, From 2021 to 2026 (USD Billion)
  57. Asia Pacific LASIK Equipment Market, By Region, From 2021 to 2026 (USD Billion)
  58. Asia Pacific Artificial Tears Market, By Region, From 2021 to 2026 (USD Billion)
  59. Asia Pacific Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  60. Asia Pacific Retail Stores Market, By Region, From 2021 to 2026 (USD Billion)
  61. Asia Pacific Online Stores Market, By Region, From 2021 to 2026 (USD Billion)
  62. Asia Pacific Clinics Market, By Region, From 2021 to 2026 (USD Billion)
  63. Asia Pacific Hospitals Market, By Region, From 2021 to 2026 (USD Billion)
  64. Japan Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  65. Japan Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  66. China Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  67. China Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  68. India Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  69. India Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  70. Australia Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  71. Australia Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  72. South Korea Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  73. South Korea Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  74. Latin America Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  75. Latin America Glass Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  76. Latin America Contact Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  77. Latin America Intraocular Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  78. Latin America Contact Solutions Market, By Region, From 2021 to 2026 (USD Billion)
  79. Latin America LASIK Equipment Market, By Region, From 2021 to 2026 (USD Billion)
  80. Latin America Artificial Tears Market, By Region, From 2021 to 2026 (USD Billion)
  81. Latin America Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  82. Latin America Retail Stores Market, By Region, From 2021 to 2026 (USD Billion)
  83. Latin America Online Stores Market, By Region, From 2021 to 2026 (USD Billion)
  84. Latin America Clinics Market, By Region, From 2021 to 2026 (USD Billion)
  85. Latin America Hospitals Market, By Region, From 2021 to 2026 (USD Billion)
  86. Brazil Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  87. Brazil Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  88. Argentina Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  89. Argentina Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  90. Mexico Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  91. Mexico Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  92. Rest of Latin America Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  93. Rest of Latin America Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  94. Middle East and Africa Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  95. Middle East and Africa Glass Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  96. Middle East and Africa Contact Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  97. Middle East and Africa Intraocular Lenses Market, By Region, From 2021 to 2026 (USD Billion)
  98. Middle East and Africa Contact Solutions Market, By Region, From 2021 to 2026 (USD Billion)
  99. Middle East and Africa LASIK Equipment Market, By Region, From 2021 to 2026 (USD Billion)
  100. Middle East and Africa Artificial Tears Market, By Region, From 2021 to 2026 (USD Billion)
  101. Middle East and Africa Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  102. Middle East and Africa Retail Stores Market, By Region, From 2021 to 2026 (USD Billion)
  103. Middle East and Africa Online Stores Market, By Region, From 2021 to 2026 (USD Billion)
  104. Middle East and Africa Clinics Market, By Region, From 2021 to 2026 (USD Billion)
  105. Middle East and Africa Hospitals Market, By Region, From 2021 to 2026 (USD Billion)
  106. Middle East Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  107. Middle East Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
  108. Africa Vision Care Market, By Type, From 2021 to 2026 (USD Billion)
  109. Africa Vision Care Market, By Distribution Channel, From 2021 to 2026 (USD Billion)

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