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The Infinium Global Research analyzes the Vision Care Market over the period of 2017 to 2023. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global vision care market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of vision care. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the vision care market during the period. The global market for vision care was valued at around USD 54.4 billion in 2016 and is expected to reach USD 70.0 million by 2023, growing at a CAGR of around 3.7% during the forecast period of 2017 to 2023.

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Vision care refers to the prevention and treatment of the eye or vision-related problems. It is necessary to take care of the eyes as they are one of the sensory organs and provides vision and also are sensitive to trauma, inflammation, and infection which can further result in vision-related problems. Good vision plays a vital role in an individual's day-to-day life in performing various activities and abilities of a person's development, learning, and communication. Worldwide, approximately 285 million people are suffering from vision impairment as a result of which there is a significant rise in the vision care market globally.

Personal Computers, Laptops, Smartphones and Tablets as Major Factors Driving the Growth of the Market

An increasing number of vision-related disorders due to a significant rise in the use of electronic devices such as personal computers, laptops, smartphones and tablet sas major factors driving the growth of the market. Some of the other key factors which are fueling the growth of the market are growing brand awareness, changing lifestyles and increasing awareness among the population about the importance of a healthy vision. For better comfort and vision, contact lenses are being largely preferred as a better alternative to eyeglasses. This, in turn, is increasing the demand for better vision care across the world. 

Moreover, growing pollution levels which hamper the life span of eye care products, attractive buying options in which the consumer can select eye care products online as well as offline, value-added offers such as free eye check-ups, discounts on products, and multiple choices are driving the growth of vision care market globally.However, a rising number of counterfeit products that are easily accessible in the market is one of the primary causes which slow down the growth of the market. 

Also, the high cost associated with surgical procedures and the lack of trained professionals hampers the growth of the market. Adopting new technologies and investing investments for R&D activities to provide the best-in-class product to end-users is estimated to increase the overall market in the forecast period. 

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Vision Care Market: Segmentation

Vision care market segmented based on product type and distribution channel. The product type segment further divided into Eyeglasses, Contact lens, intraocular lens, and others. The eyeglasses segment dominates the global market and is estimated to grow at a high CAGR in the forecast period. Less required maintenance, easy availability and less cost investment dominate the segment over others. Distribution segment bifurcated into Retail stores, Hospitals and Clinics and E-Commerce. 

Being a conventional way of buying a retail store keeps the maximum share of the market and estimated to grow with a healthy CAGR in the forecast period. E-commerce proving an emerging sector, the number of branded and local retailers are launching their product online with the help ofweb channel partners to increases the sale of eye care products.

North America Leading the Region and Expected to Stay On Top in the Forecast Period 

Geographically, the global vision care market is segmented into North America, Asia Pacific, Europe, and the Rest of the World. North America leading the region and expected to stay on top in the forecast period. Increased percentage of digitalization generating large population with vision disorders leads to demand for high-quality eye care products.The Asia-pacific region is the second fastest growing region inthe global vision care market. Rising gigantic population, changing lifestyle and large population density providing a healthy environment for the growth of the market.

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Vision Care Market: Competitive Analysis

The vision care market is very competitive; some of the major players in the market are Valeant Pharmaceuticals International Inc., Novartis AG, The Cooper Companies Inc., SynergEyes Inc., Luxottica Group S.p.A., Essilor International, Johnson & Johnson, Carl Zeiss Vision, Seiko, and others. 

Reasons to Buy this Report: 

  • Comprehensive analysis of global as well as regional markets of the vision care.
  • Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2023. 
  • Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.   
  • Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.