Dublin, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The "Global Eye Care Market Report and Forecast 2023-2031" report has been added to ResearchAndMarkets.com's offering.
The global eye care market size was valued at USD 112.5 billion in 2022, driven by the increasing prevalence of eye diseases across the globe. The market size is anticipated to grow at a CAGR of 4.96% during the forecast period of 2023-2031 to achieve a value of USD 173.9 billion by 2031.
The rapid advancement of technology within the eye care industry has led to the creation of innovative products and services that are transforming the landscape. These advancements encompass cutting-edge diagnostic and imaging technologies, precise surgical instruments, and digital solutions tailored for remote monitoring and telemedicine applications.
Alongside these technological leaps, the global prevalence of vision problems like myopia and presbyopia is on an upward trajectory. This trend is driving a heightened demand for solutions such as corrective eyewear, contact lenses, and refractive surgeries. Additionally, as the global population ages, the potential for age-related eye conditions like cataracts, glaucoma, and macular degeneration increases. This demographic shift is contributing to an amplified need for specialized eye care services, specifically cataract surgeries and treatments for age-related eye diseases.
Furthermore, preventive eye care is gaining prominence, underscored by regular eye examinations and early detection practices. Personalized treatment approaches, including customized contact lenses and tailored surgical interventions, are also gaining favor among individuals seeking comprehensive eye care solutions.
Global Eye Care Market Scenario
The eye care market is a dynamic and rapidly growing industry that encompasses a wide range of products and services aimed at maintaining and improving eye health. With an increasing global population and a rising prevalence of vision problems and eye conditions, the demand for comprehensive eye care solutions is on the rise.
The market for eye care products and services includes various segments, such as corrective eyewear (glasses and contact lenses), surgical procedures (cataract surgery, LASIK, etc.), ophthalmic pharmaceuticals, diagnostic and monitoring devices, and other vision care products. These products and services are provided by eye care professionals, including optometrists, ophthalmologists, and optical retailers.
Several factors contribute to the growth of the eye care market. These include an aging population with an increased risk of age-related eye conditions, growing awareness about the importance of regular eye examinations, technological advancements in vision correction and diagnostic devices, and increasing disposable income in emerging economies, driving the demand for advanced eye care solutions.
Overall, the eye care market is characterized by continuous innovation, increasing patient demand, and a focus on personalized and technologically advanced solutions. As the importance of eye health becomes more recognized, the market is expected to witness sustained growth and offer lucrative opportunities for companies involved in the development and delivery of eye care products and services.
Global Eye Care Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 160 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value (USD) in 2023 | $118 Billion |
| Forecasted Market Value (USD) by 2031 | $173.9 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
The major companies in the market are as follows:
- CooperVision Inc
- EssilorLuxottica SA
- Johnson & Johnson Vision Care, Inc
- LUXOTTICA GROUP
- Novartis AG
- Bausch & Lomb Incorporated
- Menicon Co., Ltd
- Carl Zeiss AG
- EssilorLuxottica
- Zydus Cadila
- Rayner Intraocular Lenses Limited
- GrandVision
- Blanchard Lab
- Avizor SA
- F. Hoffmann-La Roche AG
Global Eye Care Market Segmentations
Market Breakup by Product Type
- Eyeglasses
- Single Vision
- Bifocal
- Progressive
Contact Lens
- Personalized/Custom
- Specific Care
- Single Vision
- Progressive Lenses
- Activity Lenses
Intraocular Lens
- Traditional
- Premium
- Phakic
- Eye Drops
- Others
Market Breakup by Lens Coating
- Anti-Glare
- UV
- Others
Market Breakup by Lens Material
- Normal Glass
- Polycarbonate
- Trivex
- Others
Market Breakup by Indications
- Refractive Error
- Glaucoma
- Diabetic Retinopathy
- Amblyopia
- Dry Eyes
- Others
Market Breakup by Distribution Channel
- Online Stores
- Retail Stores
- Hospitals
- Clinics
- Others
For more information about this report visit https://www.researchandmarkets.com/r/hxnqkf
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