Vision Care Market Likely to Grow at a CAGR More Than 3% During the Forecast Period 2017–2022

Vision Care Market – Report Insights

Vision care products include eyeglasses, contact lenses, intraocular lenses, and other products, which are used to correct visual impairments or prevent blindness. These products, especially eyeglasses, increasingly share their market with functional fashion accessories such as sunglasses, UV protective, and decorative glasses, resulting in the rise of value-added and co-branded products.

Scope of the Report
The report titled “Global Vision Care Market – Strategic Assessment and Forecast 2017–2022” provides the detailed insights about the global vision care market and its strategic assessment during the period 2017–2022. The report includes a detailed market analysis for major eye care products sold over the counter (OTC) to consumers.

The report provides the analysis of key segments of the vision care market by product, distribution channels, geography, country, and vendors. It provides a comprehensive analysis of market revenues and forecast in terms of the following:

By Product

Eye Glasses
Single vision eyeglasses
Bifocal eyeglasses
Progressive eye glasses
Contact Lens
2.1. By Usage

Single-day usage
Bi-weekly usage
Weekly

2.2. By Modality

Spherical
Toric
Multi-focal
Intraocular Lens
Others
Artificial tears
Lens care solution

By Distribution Channel

Retail stores
Online stores
Clinics
Hospitals

By Geography

APAC
Europe
Latin America
MEA
North America

By Country

Canada
China
India
Japan
US

Vision Care Market – Market Size and Dynamics

Analysts at Beige Market Intelligence expect that the global vision care market is likely to witness a high growth in its sales during the forecast period. The main driver for the growth is increased incidence of vision impairments and infections, followed by faster replacement and shorter usage cycles. The demand for OTC products is also driven by the rise in innovative and value-added products that no longer just cater to the just functional use but also are emerging to be ideal blends of function and fashion. The global vision care market is likely to grow at a CAGR more than 3% during the forecast period.

The eye glasses segment is growing faster than the other segments in the market. A detailed market size of the various sub-segments of eyeglasses, contact lenses, and intraocular lenses is included in the report. The progressive eye glasses segment is one of the major segments which is expected to contribute a significant revenue during the forecast period. Moreover, the artificial tears market is one of the fastest growing markets in the vision care industry.

Further, a detailed description of the sale of the vision care products through various distribution channels is being provided in the report. Retail stores, both standalone and hybrid, constitute a major share of sales of vision care products. The online stores segment is an emerging distribution channel that incidentally is not only the fastest growing segment but also the most radically evolving one in terms of innovation.

Vision Care Market – Trends, Drivers, and Challenges

The share of online stores as a distribution channel of the vision care products witnessed an immense growth during the period 2010–2016. With the increased penetration of internet, the sale distribution of eyeglasses and contact lenses through online stores is expected to increase impressively during the forecast period. The rise of online stores as a distribution channel of vision care products is one of the emerging trends discussed in the report. The other top trends included in the report are transversal usage trends of vision care and fashion accessories and reduced lifecycle of lenses due to pollution and other factors. The computer vision syndrome and prolonged exposure to digital content, increased incidence of eye-disorders corroborated with aging population, and public and private investments to tackle avoidable blindness are among the major growth drivers that are likely to boost the market.

The report also provides a detailed study of expected challenges to the market. It provides the Porter’s five forces analysis along with a description of each force and its impact on the market.

Vision Care Market – Geographical Analysis

The vision care market in North America is expected to emerge as the largest market by 2022. The demand for eye care products in the region is largely driven by high awareness, better product availability, and extensive reach of innovative products. The MEA region is likely to have the highest growth rate during the forecast period. APAC remains to be the largest market for eye glasses in terms of revenues. Similarly, North America and Europe lead the market share of the artificial tears segment due to the presence of key market players. The report includes market analysis of different regions such as APAC, Europe, Latin America, MEA, and North America. It also outlines the major market share holders and analyzes the market size of all the leading regions.

Vision Care Market – Key Vendors and Market Share

The market is highly competitive as many local and international players are competing to gain the share of the market. The report profiles all major companies in the global vision care market and also provides the competitive landscape and market shares of key players. It covers the entire market outlook regarding the value chain operating within the market.

Major Vendors

Following are the major vendors that operate in the global vision care market:

Cooper Vision
Essilor
Novartis
Luxottica Group
Johnson & Johnson
Other prominent vendors included in the report are: SEIKO, Valeant Pharmaceuticals, Carl Zeiss, Hoya Corp., All Pro Intraocular Lens Co, Fielmann AG, Menicon Co., Rodenstock GmbH, SynergEyes, and UltraVision CLPL.

Why should you buy the report?

The report provides answers to the following questions related to the global vision care market.

What are the current changes witnessed by the market and how are they likely to impact the market landscape in the coming years?
What are the various factors that can affect the market over the next few years?
What are the major emerging trends and challenges for the market over the next five years?
What is the market size and market forecast for each product segment and end-user type?
Which region is expected to witness the highest market share and what are the factors driving the growth in that region?
What is the sale growth rate in key geographies?
Which are the key countries in terms of market size and market forecast?
Which are the key vendors in the market?
What are the key strategies implemented by the leading vendors to increase growth opportunities?
Which are the key emerging vendors in the market?

Source Link: http://www.beigemarketintelligence.com/reports/research-report-healthcare-market/vision-care-market/

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