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Visual Impairment is recognized as a global significant health problem which has a serious impact on the personal, economic, and social life of an individual. According to the International Agency for the Prevention of Blindness (IAPB), in 2020, nearly 1.1 billion people were considered to be affected by some form of vision loss; 43 million people are categorized as blind, about 553 million people are estimated to suffer from some form of Moderate and Severe Vision Impairment MSVI, about 258 million people experience mild vision impairment and about 510 million suffer from near vision impairment. In addition, at least 1 billion more people need ongoing access to eye care services. The global vision care market is set to grow by US$ 15 billion during 2021-2027, growing at a compound annual growth rate (CAGR) of 3.8% during the forecast period, according to data and analytics company StrategyHelix. Growth in the geriatric population, increasing prevalence of vision-related disorders, rising public and private initiatives to increase vision care awareness and prevent visual impairment ailments and increase in cataract surgeries and adoption of premium IOLs are expected to boost the market growth in the coming years.
The report provides up-to-date market size data for period 2017-2020 and forecast to 2027 covering key market aspects like sales value for vision care. The global vision care market is segmented on the basis of product, eyeglasses type, contact lens design, region, and distribution channel. By product, it is categorized into eyeglasses, contact lenses, IOLs, and others. The eyeglasses segment held the largest market share in 2020. By eyeglasses type, the vision care market is divided into progressive eyeglasses, single vision eyeglasses, and bifocal eyeglasses. The progressive eyeglasses segment accounted for the largest market share in 2020. Based on contact lens design, the vision care market is divided into spherical, toric, multifocal, and others. Vision care market by region is divided into North America, Asia Pacific, Europe, and Rest of the World (ROW).
The report has profiled some of the key players of the market such as Alcon Inc., Bausch & Lomb Incorporated, Carl Zeiss AG, CooperVision Inc., EssilorLuxottica SA, Hoya Corporation, Johnson & Johnson Inc., Menicon Co. Ltd., Rodenstock GmbH, Seiko Optical Products Co. Ltd., SynergEyes Inc..
Report Scope
Product: eyeglasses, contact lenses, IOLs, and others
Eyeglasses type: progressive eyeglasses, single vision eyeglasses, and bifocal eyeglasses
Contact lens design: spherical, toric, multifocal, and others
Distribution channel: retail stores, hospitals & clinics, online stores, and ambulatory surgical centers (ascs)
Region: North America, Asia Pacific, Europe, and Rest of the World (ROW)
Years Considered: this report covers the period 2017 to 2027
Key Benefits for Stakeholders
Get a comprehensive picture of the global vision care market
Identify regional strategies and strategic priorities on the basis of local data and analysis
Pinpoint growth sectors and trends for investment
Understand what the future of the global vision care market looks like
Identify the competitive landscape and window of opportunity