Global Vision Care Market Report and Forecast 2024-2032

Global Vision Care Market Outlook

The global vision care market reached USD 64.99 billion in 2023, driven by the rising cases of eye disorders across the world. The market is projected to grow at a CAGR of 3% during the forecast period 2024-2032 to attain a value of USD 84.80 billion by 2032.

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The global vision care market is driven by the rising cases of eye disorders across the world. North America is the leading regional market for vision care, globally. This can be attributed to the increasing demand for disposable contact lenses, along with the growing incidences of cataracts, glaucoma, and diabetic retinopathy across the region due to the ever-increasing geriatric population, sedentary lifestyles, and increasing pollution levels. Vision care includes regular eye check-ups and tests such as visual acuity screening for measuring distance vision, a visual field test for peripheral vision, and tonometry for detecting glaucoma to help prevent eye diseases.

Properties and Applications

Vision care is referred to as the process of maintaining the overall functioning and quality of the eyes. Healthy eyesight is essential for proper brain functioning as optimal vision facilitates an individual in carrying out various activities.

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The vision care market is segmented on the basis of product type into:

• Glass Lenses
• Contact Lenses
• Intraocular Lenses
• Contact Solutions
• Lasik Equipment
• Artificial Tears

Presently, glass lenses are the most popular product type among consumers across the globe.

Based on distribution channel, the industry is divided into:

• Retail Stores
• Online Stores
• Clinics
• Hospitals

Among all of these, retail stores exhibit the most popular distribution channel in the industry.

The report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Market Analysis 

The global vision care market is driven by the significant increase in the usage of electronic devices like laptops, personal computers, smartphones, and tablets, among other devices, which is resulting in the prevalence of vision-related problems, which is aiding the industry growth. The rising shift towards contact lenses since their emergence as a better alternative to eyeglasses due to enhanced comfort and vision has augmented the demand for better vision care across the globe. Various factors that are positively impacting the industry growth of vision care include changing lifestyles, growing brand awareness, rising pollution, and increasing consciousness among consumers about the importance of a healthy vision. However, there is an increasing availability of counterfeit products in the market, which can lead to further damage to the vision. The use of such products is impeding the growth of the industry.

Competitive Landscape 

The report gives a detailed analysis of the following key players in the global vision care market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• CooperVision
• Johnson & Johnson Vision Care, Inc.
• Novartis AG
• Bausch & Lomb Incorporated
• Menicon Co., Ltd.
• Carl Zeiss AG
• EssilorLuxottica
• Zydus Cadila
• Rayner Intraocular Lenses Limited
• GrandVision
• Blanchard Lab
• CHEMIGLAS CORP
• Fielmann AG
• Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT.

Key Highlights of the Report