Vision Care Market Report 2021, Industry Trends, Share, Size, Growth and Forecast

The global vision care market size reached US$ 63.1 Billion in 2020. Looking forward, the market expects to reach a value of US$ 76.6 Billion by 2026, according to the latest report by IMARC Group.

Eyes are one of the most important sense organs in the human body. They aid in processing visual details that are further interpreted and transmitted to the brain. Healthy eyesight contributes to improved learning and comprehension skills, which enhance the quality of life. 

Eyes are easily susceptible to trauma, infection and inflammation; therefore, it is essential for individuals to practice quality vision care, which includes the process of caring and treating to maintain proper eye health.  Some of the most common components of vision care include eyesight tests, eye drops, eye ointment and gels, and various surgeries to combat vision ailments, such as cataract and glaucoma. 

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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Competitive Landscape:

The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

• Johnson & Johnson
• Cooper
• Bausch (Valeant Pharmaceuticals)
• Essilor
• Novartis AG

Global Vision Care Market Trends:

The global market is primarily driven by the growing prevalence of ocular diseases on the global level. This, along with the growing geriatric population, has contributed to the escalating demand for advanced vision care technologies. The advent of innovative therapies, including gene and stem cell therapy, is acting as another major growth-inducing factor. These therapies are gaining widespread preference among the masses, owing to their efficient outcomes. Along with this, there has been an increase in the occurrence of eyesight disorders among working professionals, owing to prolonged usage of electronic devices, including laptops, tablets and smartphones. This has contributed to a significant increase in the demand for prescription glasses and contact lenses, and improved vision care facilities. 

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Furthermore, numerous players have introduced online eye testing modules, which is expected to assist individuals to check the status of their vision through online portals. For instance, Zeiss, a German enterprise, offers an online vision screening check without any additional charges. Their screening check is classified into three segments – visual acuity, contrast vision and color vision checks, which are designed to offer preliminary assistance regarding vision care to the users. Awareness campaigns led by several government and non-government organizations regarding the availability of advanced ocular therapies and treatments are also projected to create a positive outlook for the market. 

Global Vision Care Market Analysis and Segmentation:

Breakup by Product Type

1. Glass Lenses

2. Contact Lenses

3. Intraocular Lenses

4. Contact Solutions

5. Lasik Equipment

6. Artificial Tears 

Breakup by Distribution Channel

1. Retail Stores

2. Online Stores

3. Clinics

4. Hospitals

Breakup by Region

1. North America

2. Europe

3. Asia Pacific

4. Latin America

5. Middle East and Africa

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