Vision Care Market: Global Industry Analysis and Forecast (2024-2030) by Product Type, Type and Distribution Channel

Global Vision Care Market Overview

The Global Vision Care Market has grown at a fast pace in recent years due to an increase in the number of cases of vision disorders, the development of new innovative products in the vision care segment, and rising consciousness about vision care and its significance. According to WHO, Eye conditions fall under the bracket of diseases that affect a high percentage of the population all over the world. It is nearly impossible to escape intricate eye problems in the course of a lifetime if one is to survive old age. Globally, at least 2. There is a projection that about 2 billion of the world’s population suffer from vision impairment or blindness, while about 1 billion of these cases are either avoided or are still unmanaged. Hence, this statistic underscores the need for proper vision health solutions and care and has greatly impacted the market.

 

The Global vision care market is highly segmented, encompassing products such as spectacles, sunglasses, intraocular lenses, and ocular health products. The market includes numerous international and national players. Some of these factors include the use of spectacle as fashion icons besides the advanced age and the continually rising cases of ocular diseases. For example, the WHO assumes that worldwide 196 Billion people have AMD, 146 Billion diabetes retinopathies, 1. A billion people have presbyopia, 76 Billion have glaucoma, and 2. 5 Billion people with TT. On the same note, awareness of different ocular diseases, provoked by ultraviolet A and B rays, has led to more usage of sunglasses.

 

Unhealthy and unsuitable meal habits as well as negligence of health are also the key factors that lead to a rise in vision care necessities. Lack of properly balanced meals causes eye problems that reduce vision up to a certain threshold, which still denotes the need to get vision services. Improved accessibility of vision care products, facilitated by strong logistics and supply chain networks, ensures rapid transportation of items like spectacles and sunglasses across regions and countries, further boosting sales. Innovative technologies have driven demand for higher-value eye care products.

 

The growth of infrastructure facilities in the sphere of healthcare and the gradual increase in the availability of vision care products become significant driving forces in the growth of the Global Vision Care Market in emerging countries by the end of the predicted period. Thus, contact lens offers high potential in the present especially in the Asia-Pacific region due to the aesthetic properties of the colored contact lenses.

 

Regular eye care aims to ensure optimal vision, incorporating education, standard health maintenance, and care plans to address any vision issues. The aging population, rising pollution levels, and inactive lifestyles contribute to the growing demand for eye care treatments available globally in forms such as ointments, tablets, and drops. Currently, the major one is the natural and organic products gaining popularity in the United States. The market major players include Essilor Luxottica, Johnson & Johnson Vision Care, Alcon, Bausch + Lomb, and CooperVision which are actively engaged in shaping dynamic growth and innovation within the Global Vision Care market.

 

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Global Vision Care Market Trend

New Dry Eye Treatment Options

One of the challenges in the Global Vision Care Market is the Management of dry eye which is difficult since there are many potential causes of the disease and the response to treatment varies from one client to the other. Scholars are always on the lookout for ways to cure dry eye syndrome with two being; The first one being the Intense Pulsed Light (IPL) therapy and the other being the thermal pulsation.

 

Intense Pulsed Light (IPL) Therapy: This treatment involves the use of light pulses in treating blood vessels in the eye’s surroundings to combat inflammation that results in dry eye. At the same time, the pulses warm the meibomian glands, responsible for producing oil in the layer of the tear film; the blockage of which makes tears evaporate and the eyes dry.

 

Thermal Pulsation: It also involves the meibomian glands treatment. The device used has two components: one also heats eyelids to warm the glands, and the other applies pressure on the eyelids and blindly performs expression of the glands to help release oil in joints to treat dry eye. Acceptance of these new technologies gives new promise to patients suffering from dry eye in its mechanical treatment of the problem and the expectation of lasting positive change in the sight of the eyes.

 

Telehealth: Another key development in the Global Vision Care Market that has become evident in the operation of the eye care sector is the use of telemedicine where patients interact with the eye care providers without physically visiting the clinics. This means taking precautions due to illness in a way that the patient will have a telehealth consultation with the optometrist without having to make the trip.

 

Telehealth for Eye Care: This helps patients to get different optometry services, especially in this period of pandemic since they are in the comfort of their homes. Thus, even though not all services are delivered through this method it is beneficial in many ways. For example, if the person wakes up with red eye and other conjunctivitis signs, a telehealth visit informs if the person requires immediate attention or if the problem is treated naturally at home.

Global Vision Care Market Dynamics

Drivers

Increasing Geriatric Population and Rising Eye Problems Among Youth:

Presbyopia is a condition, which affects most people over 70 and is characterized by the increase in the rigidity of the lens of the eye. This is a situation that is usually solved by the use of bifocal or progressive lenses of eyeglasses. The proportion of the elderly population is anticipated to rise and is expected to increase the buying of vision care products within the coming forecast period. With constant screen time especially as practiced by the young generation, several complaints concerning the eyes have also risen. The WHO estimates that Around 2 billion people in the world have some form of vision impairment, and many of them - young people. It is forecasted that this trend in the Global Vision Care Market to increase the degree of utilization for vision care products.

 

• Alcon's Precision for Astigmatism: Astigmatism now has its own Alcon-developed daily disposable lenses. These lenses are planned in a way that ensures that they do not dry out; they are comfortable all through the day.

 

Increased Awareness Initiatives and Increased Awareness of Eye Health:

Activities to advocate the issue of vision globally are increasing in the Global Vision Care Market. The WHO together with the IA has joined the Indian government in supporting and implementing programs such as the VISION 2020 and activities such as WAD. These measures will entail steps to conduct awareness campaigns on issues to do with eyesight, and since these will lead to the enhancement of vision, the sales of vision care products are likely to rise. More recently awareness campaigns are encouraging people to seek eye care. These campaigns include the use of social media, traditional media, and educational programs on the need to take eye check-ups and protection including UV protection regularly. This growing consciousness is likely to drive demand for vision care products.

 

• In June 2023, Bausch Health Companies, Inc. established Bausch + Lomb Corporation and signed a deal with Novartis to purchase XIIDRA (lifitegrast ophthalmic solution) 5 %, a non-steroid eye drop specifically indicated to treat signs and symptoms of dry eye disease (DED) with focus on inflammation related to dry eye.

 

Technological Innovations and Rising Accessibility of Vision Care Products:

The Global Vision Care Market industry is orderly growing due to technological improvements in the frame, contact lenses, and lens material. These are frames constructed through titanium and memory metals as well as through the use of three-dimensional printing made to fit a customer’s face. Such developments as well as smart contact lenses and advanced materials are also improving comfort and functionality adding to the market growth. In other regions like the Asian Pacific – South Korean, Japanese, and Chinese people are accepting and able to conveniently indulge in vision care products like colored contact lenses or good quality sunglasses. This growing accessibility is anticipated to drive market expansion.

 

Growing Incidence of Cataracts: Due to the growth in the number of people suffering from cataracts especially in developing countries like India and the U. S. this segment particularly intraocular lenses is expected to grow in the Global Vision Care Market. Since cataracts constitute 51% of world blindness, the increasing incidences of cataracts and companies’ better reimbursement policies for cataract surgeries in developed countries are likely to stimulate the demand for technologically superior intraocular lenses.

 

• Bausch + Lomb's Infuse One-Day Contact Lenses: Infuse is a new daily disposable lens that is launched in the Global Vision Care Market as Bausch + Lomb recently got the FDA nod for it. These silicone hydrogel lenses also offer correction of astigmatism and comfort that is made possible by the right moisture.

 

Challenges

In the past 30 years, global eye health has experienced an improvement in the Global Vision Care Market., in advocacy, WHA resolutions, and action plans; nonetheless, eye care systems still have some issues. Present-day scientists and technologists have proved capable of producing innovative and efficient technological discoveries but current technological development rates are unresponsive to the increasing demand caused by demographic trends and changes in people’s living standards.

 

Key Challenges:

1. Increasing Demand: The global need for eye care is projected to surge in the Global Vision Care Market due to an aging population and evolving lifestyle factors. This growing demand underscores the necessity for improved and expanded eye care services.
2. Data Gaps and Weak Health Information Systems: Most areas experience a lack of data and poor HIS thereby hampering the tactical execution of planning and allocation of the right resources towards eye care services.
3. Integration and Coordination Issues: The topic of eye care is normally poorly incorporated into national health systems and strategic directions. Furthermore, the workforce in eye care is often misaligned many a time, and hence the delivery of services is compromised.

 

Advancing Universal Health Coverage (UHC):

Therefore, it is crucial to pay much attention to this aspect in the Global Vision Care Market in the course of realizing the fourth SDG of healthy wellness. 8. 1, thus it was also established that eye care to incorporated into universal health care. Users should not make catastrophic expenditures on eye care services and therefore quality eye care services reach everyone.

 

Integrated People-Centered Eye Care (IPCEC):

IPCEC aims to address these challenges through four main strategies:

 

• Engaging Communities: Empower and involve people and communities in eye care.
• Reorienting Care Models: Strengthen primary care as the foundation for eye care.
• Service Coordination: Improve intersectoral link and referral of services.
• Creating Enabling Environments: Systematically incorporate eye care into national health strategies, enhance the compilation of health statistics including those of eye care, and organize the training of the human resources for eye care based on the population requirements.

 

Global Vision Care Market Segment Analysis

Based on Product Type,

Eye Glasses Segment is the Most Preferred Product Type in the Vision Care Market

Eyeglasses Dominate the Vision Care Market in 2023. The Eyeglasses segment holds a substantial share of the Global Vision Care Market, commanding more than XX% of the market. This dominance is a result of the rising incidences of relevant errors such as myopia in the country. In this regard, WHO estimated that ninety percent of the general population in developed countries use some form of complementary and alternative medicine, while eighty-eight percent of these individuals do so without consulting a professional. 4 Billion consumers still go without their frames’ correction for refractive disorders, while approximately 826 Billion have unmet needs for presbyopia correction, thus showing huge potential for the eyeglasses product line.

 

Bifocals, trifocals, and now progressive lenses are considered modern and popular methods of vision correction, while spectacles also known as eyeglasses are considered the oldest ones in the Global Vision Care Market. They have different models and materials for solving such vision problems as myopia, hyperopia, and astigmatism. The fact that they do not damage easily, are hard to scratch, and cost slashed make them popular. Also, eyeglasses protect the eyes well from UV, a factor that also influences the market growth positively.

 

Soft daily disposable, RGP, and rigid are types of contact lenses used to correct myopia, hyperopia, astigmatism, and presbyopia. IOLs are mainly employed in cataract interventions to perform the role of the natural lens of the eye, offering patients clear vision after the treatment. Sustained-release lubricants help patients with dry eye disease that results from weather conditions, aging, or excessive use of electronics.

Based on Type: Non-Prescription (Non-Rx) Segment Driving Growth in Vision Care Market in 2023. Non-prescription or what is commonly referred to as the non-Rx segment gives a boost to the Vision Care products demand in the course of the forecast period in the Global Vision Care Market. In the past, vision care products could only be bought on a prescription and this calls for eye doctor appointments. This traditional model limited consumer access to products such as spectacles, contact lenses, and eye drops.

 

Nevertheless, the relatively recent growth of the over-the-counter (OTC) market and the changing flexibility of the organization of healthcare have extended the scope of the Global Vision Care Market. These services are availed easily by the consumers without the prior requirement of a prescription thus contributing to enhanced accessibility and convenience. This shift is envisaged to bolster the non-prescription segment in the vision care needs and enhance the market share in reality, depicting a positive move towards easier access to vision care solutions.

 

Based on the Distribution Channel: The e-commerce segment held the largest market share of XX% in 2023 and is anticipated to continue its strong growth, thanks to these advantages. In addition to retail and online stores, the Global Vision Care Market includes clinics and hospitals as distribution channels. Clinics, which combine product sales with professional ophthalmic advice, held the second-largest market share of XX% in 2023. Hospitals are also in the market though not as dominant as retail stores, and this is because the business of hospitals is equally not as large as that of retail stores.

 

Supermarkets and retail stores will account for the biggest market share over the forecast timeframe because they offer numerous products and are situated in areas that are easily accessible. This creates a broader choice of eyeglasses, contact lenses, and accessories for the consumers making it easier and more interesting for them. In general, traditional retail is also considered one of the most prominent market segments; however, the increased popularity of e-commerce platforms indicates the fact that consumers prefer purchasing goods online because of such valuable parameters as convenience and cost.

 

Global Vision Care Market Regional Insights

North America currently leads the global vision care market, holding a significant share in 2023. This dominance is driven by advanced healthcare infrastructure, cutting-edge technologies, and a high adoption rate of vision care products. An efficient healthcare structure that is supplied by technologically advanced eye care centers and high expenditure by both governments, as well as consumers in the region, contributes to the position. Additionally, enhanced awareness of ocular diseases, optimum reimbursement policies to cater to cataract surgeries, and a rising human tendency for spectacles are other peculiarities of the North American market. Despite its maturity, North America is expected to maintain its leading position throughout the forecast period.

 

The Global Vision Care Market is expected to target the Asia Pacific region as the region that is expected to have the highest growth rate in the specified time frame. Growth promoters include but are not limited to; rapid urbanization, technological development, and the large investment channeled by local governments. This means that high demand by consumers is observed because locally manufactured generic vision care products are cheap. The region also shows a high incidence of ocular disease and an increasing number of cataract surgeries that in turn require intraocular lenses. Additionally, rising disposable incomes and improved healthcare infrastructure in emerging countries support market expansion.

 

Europe exhibits steady growth in the Global Vision Care Market, supported by technological advancements and increasing healthcare investments. However, its growth rate is slower compared to Asia Pacific and North America.

The report provides a comprehensive analysis of the global vision care market, highlighting key trends, market size forecasts, and regional dynamics. It includes insights into competitive strategies, market leaders, and emerging players. The report also features PORTER and PESTEL analyses to assess the impact of external and internal factors on market growth, offering valuable guidance for stakeholders and decision-makers.

 

Global Vision Care Market Scope

Global Vision Care Market
Market Size in 2023	USD 95.93 Bn.
Market Size in 2030	USD 139.55 Bn.
CAGR (2024(2030)	5.5%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Global Vision Care Market Segments	By Product Type Eye Glasses   Single Vision Eyeglasses   Bifocal Eyeglasses   Progressive Eyeglasses Contact Lens   Personalized/Custom   Specific Care   Single Vision   Progressive Lenses   Activity Lenses Intraocular Lens   Traditional/Monofocal IOLs   Premium IOLs   Phakic IOLs Others   Contact Lens Solutions   Artificial Tears
	By Type Rx (Prescription) Non-Rx (Non-prescription)
	By Distribution Channel Hospitals Ophthalmic Clinics Optometry Stores E-commerce Retail Hypermarket/Superstore
Regional Scope	North America (United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Russia, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa (South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Vision Care Market Key players

North America

1. Johnson & Johnson Vision Care Services, Inc. (USA)
2. Alcon (USA)
3. CooperVision (USA)
4. Bausch Health Companies Inc. (Canada)
5. Paragon Vision Sciences (USA)
6. Valeant Pharmaceuticals (Canada)
7. Bausch + Lomb (USA)
8. Synergeyes (USA)
9. Wesley Jessen (USA)

Europe

1. Novartis AG (Switzerland)
2. EssilorLuxottica (France)
3. SAFILO GROUP S.P.A (Italy)
4. Carl ZEISS International (Germany)
5. Rodenstock (Munich, Germany)
6. GrandVision (Rotterdam, Netherlands)
7. UltraVision (London, UK)
8. Fielmann (Hamburg, Germany)

Asia Pacific

1. Hoya Corporation (Japan)
2. Menicon (Nagoya, Japan)
3. Seiko Group (Tokyo, Japan)
4. Shanghai Conant Optics (Shanghai, China)
5. Hongchen Optical (China)