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Vision Care Market worth $136.37 billion by 2030, growing at a CAGR of 8.19% - Exclusive Report by 360iResearch
Vision Care Market | 360iResearch
The Global Vision Care Market to grow from USD 78.58 billion in 2023 to USD 136.37 billion by 2030, at a CAGR of 8.19%.
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The vision care encompasses all products and services related to correcting, protecting, and enhancing eyesight. This includes prescription eyeglasses, contact lenses, intraocular lenses, ophthalmic surgical instruments, diagnostic devices, ophthalmic pharmaceuticals, and accessories. The market caters to medical eye care needs and aesthetic preferences, addressing conditions such as myopia, hyperopia, astigmatism, and presbyopia, among others. The primary factors propelling the vision care include the prevalence of refractive errors due to increased screen time and aging populations globally. The rise in disposable income allows for more significant uptake of elective vision correction procedures. Additionally, the incorporation of digital technology in vision care, offering online eye tests and purchase options, is making vision care more accessible. However, vision care faces challenges such as lack of access to vision care in low-income countries, and a shortage of trained professionals and proper infrastructure. Furthermore, the high cost of some advanced vision care products and procedures may limit market growth. Counterfeit products and the risk of complications from contact lenses or surgical procedures are additional concerns that may restrain market expansion. Potential opportunities for the vision care lie in the development of cost-effective and innovative products which can cater to the needs of price-sensitive. Implementation of nanotechnology in the vision care and advancements and introduction of novel contact lens vision care services promote the adoption of vision care. Additionally, the ongoing research in custom-tailored and smart eyewear, such as glasses integrated with augmented reality, can open new avenues for the industry.
Market Segmentation & Coverage:
This research report categorizes the Vision Care Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product, market is studied across Cleaning & Disinfecting Solutions, Contact Lenses, and Spectacle Lenses. The Spectacle Lenses is projected to witness significant market share during forecast period.
Based on Type, market is studied across Non-Rx (Non-Prescription) and Rx (Prescription). The Rx (Prescription) is projected to witness significant market share during forecast period.
Based on Distribution Channel, market is studied across E-Commerce, Hospitals, Ophthalmic Clinics, Optometry Stores, and Retail, Hypermarket & Superstore. The E-Commerce is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 36.30% in 2023, followed by Europe, Middle East & Africa.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Vision Care Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Vision Care Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Vision Care Market, highlighting leading vendors and their innovative profiles. These include Bausch Health Companies Inc., Carl Zeiss AG, CooperVision Inc., Fielmann AG, Hoya Vision Care, Johnson & Johnson Services, Inc., Luxottica Group SpA, Menicon Co., Ltd., Novartis AG, Rayner Surgical Group Limited, Rodenstock GmbH, Safilo Group S.p.A., Seiko Optical Products Co., Ltd., Shanghai Conant Optical Co., Ltd., and Zydus Pharmaceuticals Inc..
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Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Vision Care Market, by Product
7. Vision Care Market, by Type
8. Vision Care Market, by Distribution Channel
9. Americas Vision Care Market
10. Asia-Pacific Vision Care Market
11. Europe, Middle East & Africa Vision Care Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Vision Care Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Vision Care Market?
3. What is the competitive strategic window for opportunities in the Vision Care Market?
4. What are the technology trends and regulatory frameworks in the Vision Care Market?
5. What is the market share of the leading vendors in the Vision Care Market?
6. What modes and strategic moves are considered suitable for entering the Vision Care Market?
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360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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