Vision Care Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Top Companies Analysis

Vision Care Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Top Companies Analysis

Vision Care Market is predicted to hit a value of US$ 102.15 Billion by 2030, according to Renub Research. Recently, vision care has gained prominence due to heightened cognizance of virtual eye strain, expanded display time, and the growing old population. The incidence of vision-associated problems necessitates focusing on eye fitness, propelling calls for regular eye checkups, corrective lenses, and innovative vision care answers. Technological advancements in eyewear, lens coatings, and vision correction techniques contribute to the growing significance of vision care. As humans apprehend the importance of retaining the choicest vision for essential well-being, the vision care industry plays a critical role in addressing and preventing visible impairments in modern society.

Vision Care Market is anticipated to undergo a CAGR of 4.70% from 2024 to 2030

Poor nutritional conduct and an uptick in chronic ailments can exacerbate visible impairments, potentially central to partial or complete vision loss. Consequently, the worldwide vision care market is expanding. According to a Science Direct article, people with visual impairment (PVI) are more susceptible to persistent diseases than the ones without, facing challenges in coping with them due to related physical, social, and mental problems. Common interventions include addressing intellectual disorders (39.3%), stroke (25.0%), diabetes (17.8%), and diverse chronic situations (10.7%).

Further, eye troubles among teenagers are on the rise, contributing to the growth of the global vision care market. The incidence of digital devices in work and amusement activities has brought about an uptick in eye-related issues among young people. Lifestyle adjustments, which include reduced outside time and multiplied near work, negatively impact eye fitness. Factors like terrible nutritional conduct, inadequate sleep, pollution, and UV exposure contribute to developing eye issues in this demographic. According to the International Agency for the Prevention of Blindness, globally, at least 450 million youngsters require remedies for sight situations, with ninety million living with some form of sight loss and 448 million kids and young people having refractive errors. So, the Global Vision Care Market was worth US$ 74.06 Billion in 2023.

Besides, improvements in intraocular lens (IOL) technology contribute to expanding the vision care market. For example, in 2024, Johnson and Johnson Medtech introduced the TecnisPuresee, a new presbyopia-correcting IOL, in Emea. Furthermore, the surge in need, spurred by the increasing incidence of eye sicknesses, activates businesses to put money into IOL technology. In 2023, HOYA Vision Care, a pacesetter in ophthalmic lens technology, introduced a multi-million-dollar investment in its production lab network to enhance talents and aid eye care specialists across Canada. This funding, totaling nearly $10 million, aims to amplify the national lab network.

There is a possibility of an increase in the global vision care market for contact lenses

The Vision Care Market is divided into several product categories: Glass Lenses, Contact Lenses, Intraocular Lenses, Contact Solutions, Lasik Equipment, and Artificial Tears. Contact lenses might be witnessing an increase in the international vision care market. This is due to their convenience, consolation, and aesthetic attraction compared to standard eyeglasses. Technological improvements, such as silicone hydrogel substances and everyday disposables, are driving adoption, catering to various vision correction desires and alternatives.

It is anticipated that China could significantly impact the global market for vision care products

Based on country, the Vision Care Market is separated into North America (United States, Canada), Europe (France, Germany, Italy, Spain, United Kingdom, Belgium, the Netherlands, and Turkey), Asia Pacific (China, Japan, India, Australia, South Korea, Thailand, Malaysia, Indonesia, and New Zealand), Latin America (Brazil, Mexico, and Argentina), Middle East & Africa (South Africa, Saudi Arabia, and the United Arab Emirates). China is expected to play a sizeable role in the international vision care market. This is due to its enormous population, speedy urbanization, and increasing disposable income. According to a document posted by Lancet, China had over forty-five million humans with moderate vision impairment, around 4.6 million with extreme vision impairment, and nearly 8.7 million people with blindness. As more Chinese people prioritize eye fitness and seek answers to vision correction, the demand for eyewear, contact lenses, and eye care offerings is growing. Additionally, China's increasing middle class and multiplied entry to healthcare offerings contribute to its increased potential, making it an important segment within the global vision care market panorama.

Key Players

The Global Vision Care Market includes companies such as Essilor International, Johnson & Johnson Services, Inc., Bausch Health Companies, Inc., Novartis International AG, Grand Vision, Carl Zeiss, Valeant Pharmaceuticals, Paragon Vision Science, and Menicon.

• In August 2022 - Alcon recently announced their acquisition of Aerie Pharmaceuticals, which will significantly enhance their ophthalmic pharmaceutical portfolio.

Product Type – Global Vision Care Market breakup in 6 viewpoints:

1. Glass Lenses
2. Contact Lenses
3. Intraocular Lenses
4. Contact Solutions
5. Lasik Equipment
6. Artificial Tears

Treatment – Global Vision Care Market breakup in 3 viewpoints:

1. Laser Therapy
2. Surgery
3. Medication

Distribution Channel – Global Vision Care Market breakup in 5 viewpoints:

1. Retail Stores
2. E-Commerce
3. Clinics
4. Hospitals
5. Others

Country – Global Vision Care Market breakup of 25 Countries covered in the Report:

1. North America

1.1 United States
1.2 Canada

2. Europe

2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey

3. Asia Pacific

3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand

4. Latin America

4.1 Brazil
4.2 Mexico
4.3 Argentina

5. Middle East & Africa

5.1 Saudi Arabia
5.2 UAE
5.3 South Africa

All the Key players have been covered from 3 Viewpoints:

• Overview
• Recent Development
• Revenue Analysis

Company Analysis:

1. Essilor International
2. Johnson & Johnson Services, Inc.
3. Bausch Health Companies, Inc.
4. Novartis International AG
5. Grand Vision
6. Carl Zeiss
7. Valeant Pharmaceuticals
8. Paragon Vision Science
9. Menicon