NEWARK, Del, Sept. 12, 2022 (GLOBE NEWSWIRE) — The global vision care market is valued at US$ 83. 72 billion in 2022. The market is expected to be valued in US$ 169. 37 billion dollars by 2032. The CAGR is expected to be 7. 3% during the forecast period.
Since the past decade, there has been an increase in the usage of electronic devices. The more time we spend in front of the screen, the more our eyes get exposed to the rays emitted from the devices. This in turn starts affecting our eye, and all of us start adopting various types of vision care products.
Additionally, we are living at times when the particular people working in large corporate houses hardly have any time to prepare food by themselves. Because of this they start consuming fast foods, which are believed to be unhealthy.
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Therefore, the eyes are not able to receive the required nutrients. This has led to a rise in the demand for eyesight care products.
Moreover, there have been tremendous improvements in the logistics and supply chain management, as a result of which the vision maintenance systems can be transported from any part of the globe.
However, if there is one segment which has significantly contributed to the growth associated with vision treatment market it is the geriatric population. With age, the eye lens become rigid, which usually leads to different kinds of eye problems. Thus, the particular increased requirement by geriatric population will be likely to increase the sales of vision care items.
Moreover, presently there have already been increased initiatives taken by the government and other ruling authorities to increase the awareness of eyesight care devices.
- The vision care marketplace is anticipated to grow in a CAGR associated with 7. 3% during the particular forecast time period.
- The eyesight care market is anticipated to become valued from US$ 169. 37 billion by 2032.
- The vision care market is valued at US$ 83. 72 billion because on 2022.
- Based on the product type, the spectacle lens segment is the most preferred segment in the particular vision care market.
- Based on the type, the particular non-prescription mode is expected to surge the market for eyesight care products.
- Based on the channel, the retail hypermarket/superstore is usually the most preferred in the vision care marketplace.
- North America is projected to be the largest market based on regional insights.
- Asia Pacific is the second biggest, and the fastest growing vision treatment market.
- Dependent on country analysis, USA vision care market the largest market, with a share of nearly 34% in North America, and is definitely expected to grow at a CAGR of seven. 5% during the forecast period.
- India market can be expected in order to grow with a CAGR of 9. 4% throughout the forecast period.
- Chinese eyesight care market place is expected to grow in a CAGR associated with 7. 1%
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With a view to boost their footprints across the nations, the major players are getting involved in mergers and acquisitions which would drive their business in order to new heights.
Some of the recent developments are usually:
- In July 2022, Bausch and Lomb enrolled first patient in LASIK clinical trial, thereby evaluating the use of Technolas TENEO Excimer Laser for vision correction surgery with regard to hyperobia.
- Within February 2022, Johnson plus Johnson was named a 2022 Fortune world’s most admired company and ranked #1 upon the pharmaceutical industry list.
Key Companies Profiled
- Bausch and Lomb (Acq. by Valeant Pharmaceuticals)
- Alcon (sub. Novartis AG)
- Johnson & Johnson
- LUXOTTICA GROUP
- ZEISS International
- Safilo Group
Key Segments in the particular Vision Care Market
By Product Type:
- Spectacle Lenses
- Contact Lenses
- Cleaning & Disinfecting Solutions
- Rx (Prescription)
- Non-Rx (Non-prescription)
Simply by Distribution Channel:
- Ophthalmic Clinics
- Optometry Stores
- Retail Hypermarket/Superstore
Table of Content
1. Executive Summary
1. 1 . Market Overview
1. 2 . Market Analysis
1. 3. FMI Evaluation and Recommendations
1. 4. Wheel associated with Fortune
2. Marketplace Introduction
2. one Market Taxonomy
2. second . Market Definition
a few. Vision Treatment Market Opportunity Analysis
3. 1 ) Macro-Economic Factors
3. 2 . Opportunity Analysis
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