Vision Care Market Share 2022

Vision Care Market size was valued at USD 54.38 Billion in 2022 and is projected to reach USD 74.95 Billion by 2031, growing at a CAGR of 4.09%.

NEW YORK CITY, NEW YORK, UNITED STATES, October 27, 2022 /EINPresswire.com/ -- MARKET DRIVERS

Increasing accessibility to vision care products will boost the market growth

An increase in vision care product adoption has resulted from the increasing awareness of the ocular disease in emerging countries. The acceptance of colored contact lenses for aesthetic purposes has increased in Asia Pacific countries, such as South Korea and Japan. Market demand will also be driven by rising accessibility to spectacles and sunglasses in emerging nations. A rising number of people in emerging nations are spending more on sunglasses. A key driver of the vision care market trend has been the increasing number of people suffering from ocular disorders.

Major companies have developed strategies to capture the North American market, which is fragmented in Asia Pacific and North America. These plans include a stronger focus on product distribution via different channels. These strategic moves can help increase the customer base of developing countries and improve the growth of the vision care market. Globally, the market is expected to grow due to increased brand consciousness. The demand for vision care is expected to grow due to increased knowledge about different types of contact lenses and spectacle lenses.

To get a detailed analysis of other segments, Request For Sample Report: https://market.us/report/vision-care-market/request-sample/

The TOP key market players listed in the report with their sales, revenues, and strategies are Johnson and Johnson, Essilor, ZEISS, The Cooper Companies, Valeant Pharmaceuticals, and Novartis.

Vision Care Market Segmentation: Research Scope

Segmentation 1: Different types of Vision Care market

Spectacle Lenses
Contact Lenses

Segmentation 2: by Application - They are widely used in places including

Hospitals
Ophthalmology Clinics
Household

Increased Cataract Cases Will Help the Growth of the Intraocular lenses Segment During the Forecast Period

Globally, there is an increase in the number of cases of cataracts. This will likely boost the intraocular segment. Research articles have shown that the United States and India are the top two countries regarding the number of cataract surgeries annually. This should have positive effects on intraocular lens adoption in vision products. According to the World Health Organization, 51% of blindness worldwide is due to cataracts. There is an increase in cataract cases due to the growing geriatric population. This trend can be observed in both developed as well as developing countries.

In addition, there is rising awareness about cataract disorders in countries like Japan and India. The availability of favorable reimbursement policies drives the market growth. North America will see a growing interest in premier intraocular lenses. The premier intraocular lenses offer better vision than traditional intraocular glasses. The growth in the geriatric population is predicted to affect the vision care industry during the forecast period positively.

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Market restraints on the Vision Care Market

Spectacles distort vision

If the wearer has astigmatism, there may be vision distortion. Astigmatism can also cause difficulty seeing the sides of glasses. The problem tends to worsen with lower eye power. These are all factors that might limit the demand for vision care products.

Contact lenses lead to increased eye infection cases

Dry eye is the biggest problem with contact lenses. Additionally, contact lenses can lead to allergies if they are not kept clean.

In some cases, eye ulcers have been caused by improper contact lens handling. This can be a grave threat to the sales of vision products.

The following are the latest developments in vision care markets:

Alcon announced its acquisition of Aerie Pharmaceuticals in August 2022. This would increase its ophthalmic drug portfolio.

Rodenstock bought the leading Spanish lens manufacturer Indo Optical in May 2022. This accelerated Rodenstock’s growth in key market markets.

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