Vision Care Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Vision Care Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global vision care market size reached US$ 69.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 85.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.39% during 2023-2028.

Vision assists in performing everyday activities, such as viewing, writing and reading. It also impacts the ability of an individual to work and communicate with others. However, there has been a significant rise in the number of people suffering from vision-related ailments, such as cataracts, glaucoma, conjunctivitis and retinal detachment. This can be accredited to sedentary lifestyles, growing geriatric population and rising pollution levels. As a result, there is an increase in the development and production of different vision care medicines, which are available in the form of pills, ointments and drops across the globe.

An unhealthy diet and the rising number of chronic conditions have led to a rise in the occurrence of associated vision ailments, which can lead to partial or complete vision loss. Consequently, there is an increase in the demand for vision care products worldwide. Apart from this, numerous international organizations are focusing on research and development (R&D) projects to introduce more efficient products. They are also offering several product variants with improved quality and services to expand their consumer base. Besides this, the flourishing e-commerce sector and the growing awareness about visual impairment caused by UV rays are also propelling the market growth. Some of the key vendors in the industry are also focusing on the prevention of visual impairments with the help of advanced technologies. Moreover, new treatments, such as gene therapy, computerized eye evaluations and stem cell therapy, are anticipated to fuel the market growth in the upcoming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global vision care market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type and distribution channel.

Breakup by Product Type:

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

Glass lenses currently exhibit a clear dominance in the market.

Breakup by Distribution Channel:

Retail Stores
Online Stores
Clinics
Hospitals

Retail stores account for the majority of the total market share.

Regional Insights:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

North America enjoys the leading position in the market.

Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are:

Johnson & Johnson Services, Inc.
CooperVision, Inc. (Cooper Companies, Inc.)
Bausch Health Companies, Inc.
Essilor International
Novartis International AG

Key Questions Answered in This Report:
How has the global vision care market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global vision care market?
Which are the popular product types in the industry?
Which are the major distribution channels in the industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global vision care market and who are the key players?
What is the degree of competition in the industry?
How are vision care products manufactured?