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 at US$ 169. 37 billion 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 associated with electronic devices. The particular more time we spend in front of the particular screen, the more our eyes get exposed in order to the rays emitted from the devices. This in turn starts affecting our own eyes, and we start adopting various types of vision care products.
Additionally , we are living at times when the 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 particular eyes are not able to receive the required nutrients. This has led to a good increase within the demand for vision care products.
Moreover, there have been tremendous improvements in the logistics and supply chain management, as a result of which the particular vision treatment products can be transported through any part of the globe.
However , if there is one segment which has significantly contributed to the growth associated with vision care market it is the particular geriatric population. With age, the eye lens become rigid, which leads to different kinds of eye problems. Thus, the increased requirement by geriatric population will be expected in order to increase the sales of eyesight maintenance systems.
Moreover, there has been increased initiatives taken by the government and other ruling authorities to increase the particular awareness of vision care products.
- The eyesight care market is expected to grow at a CAGR of 7. 3% during the prediction period.
- The vision treatment market is usually likely to be valued in US$ 169. 37 billion dollars by 2032.
- The vision care market place is highly valued at US$ 83. 72 billion as on 2022.
- Based on the product type, the spectacle zoom lens segment is definitely the most preferred segment in the eyesight care market.
- In line with the type, the non-prescription mode can be anticipated to surge the market with regard to vision care devices.
- Based on the particular channel, the retail hypermarket/superstore is the most preferred within the vision care marketplace.
- North America is projected to become the largest market based on regional insights.
- Asia Pacific is the particular second biggest, and the fastest growing eyesight care market.
- Based on country analysis, USA vision care market the largest marketplace, with the share associated with nearly 34% in North America, and is expected to grow from a CAGR of seven. 5% throughout the forecast period.
- India market is expected to grow in a CAGR of 9. 4% during the particular forecast time period.
- Chinese vision care market is anticipated to develop at a CAGR associated with 7. 1%
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With a view to improve their footprints across the nations, the major players are usually getting involved in mergers plus acquisitions which would drive their own business in order to new heights.
Some of the recent developments are:
- In July 2022, Bausch and Lomb enrolled first patient in LASIK clinical trial, thereby evaluating the use of Technolas TENEO Excimer Laser regarding vision correction surgery intended for hyperobia.
- Within February 2022, Johnson plus Johnson was named the 2022 Fortune world’s most admired company and ranked #1 on the pharmaceutical industry list.
Key Companies Profiled
- Bausch and Lomb (Acq. simply by Valeant Pharmaceuticals)
- Alcon (sub. Novartis AG)
- Johnson & Manley
- LUXOTTICA GROUP
- ZEISS International
- Safilo Group
Important Segments in the Vision Care Market
By Product Type:
- Spectacle Lenses
- Contact Lenses
- Cleaning & Disinfecting Solutions
- Rx (Prescription)
- Non-Rx (Non-prescription)
By Distribution Channel:
- Ophthalmic Clinics
- Optometry Stores
- Retail Hypermarket/Superstore
Table of Content
1 . Executive Summary
one 1. Market Overview
1 ) 2. Marketplace Analysis
1 . 3. FMI Analysis and Recommendations
one 4. Wheel of Lot of money
2 . Market Introduction
second . 1. Market Taxonomy
2 . 2. Marketplace Definition
3. Eyesight Care Market Opportunity Analysis
3. 1. Macro-Economic Factors
a few. 2. Opportunity Analysis
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Have a Look at Related Research Reports associated with Healthcare
North America Vision Treatment Market Size : The Northern America eyesight care marketplace is likely to secure a CAGR of 9. 5% through 2032.
Vision Screeners Market Growth : The worldwide Vision Screeners Market is certainly likely to grow at a CAGR of 5. 9% throughout the outlook period 2022-2029. Increasing prevalence of eye diseases is the major factor accelerating the growth in the market.
Health care Interoperability Options Market Technology : During the particular forecast period, the healthcare interoperability solutions market holds an average growth prospect with an expected CAGR of 14% to reach a valuation of US$ 5. five Bn by 2026, from US$ three or more. 3 Bn in 2021.
Healthcare Regulatory Affairs Outsourcing Marketplace Analysis : The global Healthcare Regulatory Affairs Outsourcing Market is slated to total US$ 1 ) 76 Bn in 2022, as per a recent market study simply by Future Market Insights (FMI).
Health care Interoperability Solutions Market Forecast : During the forecast period, the healthcare interoperability solutions marketplace holds an average development prospect with an anticipated CAGR of 14% to reach a value of US$ 5. 5 Bn by 2026, through US$ 3 or more. 3 Bn in 2021.
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