Global Vision Care Market size was valued US$ XX Bn. in 2019 and the total revenue is expected to grow at 5.13% through 2019 to 2027, reaching nearly US$ 70.2 Bn.
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Vision care is stated as the process of continuing the complete functioning and quality of the eyes. Healthy vision is essential for proper brain operative as optimal vision helps an individual in carrying out many activities.
Population aged over 65 years is rising day-by-day and with this, the demand for vision care-related solutions and products is growing. This upsurge in population and need signifies the global market opportunities for new customers. Healthcare enterprises by the Federal health care platforms have increased the number of authorized people for vision care aids. Besides, the out-of-pocket prices have reduced for patients because of insurance coverage.
As per the report of the World Health Organization (WHO), almost 285 million people are visually impaired globally. Among these, 246 MN people have low vision and 39 MN people are blind. Approximately 80% of the vision problem is fixable & avoidable. Vision loss causes huge human suffering. It signifies public health, the economic & social problem for economies, especially the emerging countries like India, China and sub-Saharan Africa, where about 60% of individuals are suffering from vision-related problems. The worldwide community spends each year about USD 80 MN for the avoidance of blindness.
Global Vision Care Market
The MMR report covers the segments in the vision care market such as product and distribution channel. Based on the distribution channel, the retail store’s segment is expected to grow at the highest XX% CAGR during the forecast period. The difficult availability of vision care product over retail stores is projected to be the major fueling issue for the sector.
In the European Union, medical devices with contact lens are controlled by (EC) European Commission. The European Commission works in close combination with each country’s respective Health Specialists to integrate the many national necessities into a single law that could be rolled out and useful through the EU.
North America vision care market was valued US$ XX million in 2019 and is expected to reach a value of US$ XX million by 2027, with a CAGR of XX% during the forecast period. This is owing to innovative technology with a high rate of awareness and healthcare spending. Europe position itself in the vision care market race with advanced ability and the presence of major companies. The APAC is considered as the developing market with growing incidences of eye problems and emerging technologies.
Major players such as Johnson & Johnson, Essilor, Bausch Health Companies Inc. and Luxottica hold more than 40% revenue share in the vision care market globally. These key players are continually making efforts to launch new products for vision care. Such as, in 2018, Carl Zeiss Company launched the main sunglass to provide 400mm UV protection.
In 2019, CooperVision Company launched a soft contact lens recycling program incorporation with TerraCycle to upsurge its sustainability efforts.
The objective of the report is to present a comprehensive analysis of the Global Vision Care Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Vision Care Market dynamics, structure by analyzing the market segments and projects the Global Vision Care Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Vision Care Market make the report investor’s guide.
Scope of the Global Vision Care Market
Global Vision Care Market, By Product
• Eye Glasses
o Single Vision Eyeglasses
o Bifocal Eyeglasses
o Progressive Eyeglasses
• Contact Lens
o Specific Care
o Single Vision
o Progressive Lenses
o Activity Lenses
• Intraocular Lens
o Traditional/Monofocal IOLs
o Premium IOLs
o Phakic IOLs
• Contact Lens Solutions
o Artificial Tears
o Vision Care Market
Global Vision Care Market, By Distribution Channel
• Retail Stores
Global Vision Care Market, By Region
• Asia Pacific
Rest of Asia
• North America
• South America
Rest of South America
• Middle East & Africa
Rest of MEA
Key players operating in Global Vision Care Market
• Essilor Group
• Johnson & Johnson
• Alcon (Part of Novartis AG)
• Valeant Pharmaceuticals
• Bausch Health Companies Inc.
• Paragon Vision Sciences
• Carl Zeiss
• Marcolin Eyewear
• Bionic Sight LLC
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