(USA, NY, New York City) Vision care includes the treatment of eyes and other optical disorders. The global vision care market report by Market Research Future (MRFR) outlines drivers, challenges, trends, opportunities, socio-economic factors, and other business metrics for end-users for the forecast period. The impact of the COVID-19 pandemic has been noted and suggestive measures provided for interrupted supply chain and sales.
It is expected to achieve this benchmark at a CAGR of 4.48% over the forecast period.
Trends in eye care industry are huge prevalence of eye disorders and focus on combination therapies. The large geriatric population and other demographics requiring eye care due to constant focus on computers and other electronic devices can drive the demand in the market. The use of social media platforms by businesses to reach customers simultaneously as well as cater to their changing needs can bode well for the market.
But unawareness of vision disorders and complications resulting from contact lenses can restrict the market growth.
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Menicon, Cadila Healthcare, NOVARTIS AG, Johnson & Johnson Services, Inc., The Cooper Companies, Inc, Bausch Health, Rayner Surgical Group Limited, ESSILORLUXOTTICA, and Carl-Zeiss-Stiftung are noteworthy players of the global vision care market. Collaborations between partners is expected to be a major strategy incorporated by players in the market. Recently, Garrett Leight California Optical (GLCO) has decided to collaborate with Rimowa, a luggage maker, for a limited edition collection of sunglasses.
MRFR made an assessment of the global vision care market by having it segmented into product type, end user, indication, and treatment. These segments and their insights based on the factors and dynamics motivating the segmental moves have been charted well to get a closer look at the global market progress.
By product type, the report on the vision care market can be segmented into a contact lens, eyeglasses, intraocular lens (IOL), contact lens solution, and others. The contact lens segment includes a therapeutic lens, cosmetic, corrective lens, and lifestyle-oriented lens. The eyeglasses segment dominates the market, and it is sub-segmented into Single Vision, Progressive, Bifocal, and Sunglasses. The IOL segment includes traditional/mono-focal, premium, and phakic.
By indication, the global market for vision care can be segmented into refractive error, glaucoma, diabetic retinopathy, amblyopia, dry eyes, and others. The refractive error segment is quite common. The dry eyes segment is also common as the malfunctioning of tear glands happen to a lot of people.
By treatment, the global market for vision care can be segmented into surgery, medication, laser therapy, and others. The surgery part can be sub-segmented into cornea transplant, vitrectomy, and cataract surgery. It has the maximum market share. The medication segment includes acetylcysteine, gentamicin, acetazolamide, and others.
By end user, the global market report on the vision care can be segmented into eye hospitals & clinics, optical stores, ambulatory surgery centers, and others. The eye hospitals and clinics segment have a dominating role in the market.
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Technological superiority, better infrastructure, and investment flow, high awareness are some of the reasons that will establish the American market at the forefront. In Europe, the same type of growth will be witnessed. The Asia Pacific region will be the fastest-growing one among all.
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