Vision Care Market is shares overview with a CAGR of 4.5% from 2020-2027


Posted May 25, 2022 by Rushikesh87

There are a wide variety of eye diseases prevalent across the globe, including cataract, glaucoma, and refractive errors. Most of the people have some sort of eye problems in their lifetime.

 
According to the latest study on “Vision Care Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product, and Distribution Channel,” the market was valued at US$ 66,934.51 million in 2019 and is projected to reach US$ 93,817.82 million by 2027; it is expected to grow at a CAGR of 4.5% during 2020–2027. The report highlights the trends prevailing in the global vision care market, and drivers and deterrents pertaining to the market growth.

There are a wide variety of eye diseases prevalent across the globe, including cataract, glaucoma, and refractive errors. Most of the people have some sort of eye problems in their lifetime. As per the World Health Organization (WHO), around 2.2 billion people across the globe have a near or distance vision impairment. The leading cause of vision impairment is cataract (94 million) and uncorrected refractive errors (88.4 million). The other causes of vision impairment are glaucoma (7.7 million), corneal opacities (4.2 million), diabetic retinopathy (3.9 million), and trachoma (2 million).

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis: https://www.theinsightpartners.com/sample/TIPRE00011953/?utm_source=FreePlatform&utm_medium=10464

As per the Canadian Survey on Disabilities 2017, 1.5 million Canadians were having a sight loss and around 5.59 million had an eye disease that could lead to sight loss.

Moreover, as per the Royal National Institute of Blind People in 2017, in the UK, there were around 350,000 people registered as blind and partially sighted; around 173,735 were registered for severely sight impaired; and 176,125 were registered for sight impaired. Therefore, growing prevalence of eye diseases is driving the vision care market
Extensive eye diseases research across the world to identify new treatments for the eye diseases is likely to favor the market growth. For instance, India-US Collaborative Vision Research Program 2020, would advance science and technology, which is important to understand, prevent, and treat blinding eye diseases, visual disorders, and their associated complications. Both the Indian Department of Biotechnology and the US National Eye Institute (NEI) would fund the research program.

In terms of product, the global vision care market is segmented into eye glasses, contact lens, intraocular lens, and others. The eye glasses segment held the largest share of the market in 2019 and is expected to continue its dominance and register the highest CAGR in the market during the forecast period.

Alcon Inc, Bausch Health Companies Inc, Carl Zeiss AG, Cooper Companies Inc, Essilorluxottica SA, Johnson And Johnson Services Inc., Hoya Corporation, Rodenstock Gmbh, Menicon Co. Ltd, Rayner Intraocular Lenses Limited are among the prominent players in the vision care market. These companies are focused on partnerships, product launches, collaborations, and other business strategies to sustain their position in the market. For instance, in February 2021, The company received CE Mark for its multifocal contact lens, Acuvue Oasys multifocal with pupil optimized design for Europe. it will be used for patients with presbyopia.
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Issued By The Insight Partners
Country India
Categories Medical
Tags vision care market
Last Updated May 25, 2022