Eye Care Market to Grow with a CAGR of 7.37% through 2028
Increase in the Eye Health Awareness and increase in the aging
population is expected to drive the North America Eye Care Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “Eye Care
Market – North America Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the North America Eye Care Market stood at USD 24.85
billion in 2022 and is anticipated to grow with a CAGR of 6.50% in the forecast
period, 2024-2028. The awareness among individuals regarding Eye Care has led
to favorable market conditions for the North America Eye Care market. Several
factors contribute to the growth of various Eye Care products.
The North America Eye Care Market is thriving due to a
confluence of factors, including technological breakthroughs, an aging
population, the impact of digitalization, and continuous advancements in
pharmaceutical solutions. These drivers collectively contribute to the growth
and evolution of this vital healthcare sector, ensuring that individuals across
North America receive the best possible eye care and vision-related treatments.
Individuals are exposed to screens for prolonged
periods. This digitalization has brought about an increase in eye strain and
related issues. The prevalence of conditions like computer vision syndrome
(CVS) has led to a heightened awareness of the importance of regular eye
check-ups. Eye care professionals now focus on educating patients about
maintaining healthy vision in the digital age, which will further fuel market
growth.
In September 2023, BHC's Bausch + Lomb division
announced the disclosure of historical and pro forma financial information with
respect to the acquisition of XIIDRA. The disclosure includes information on
XIIDRA's revenue, profitability, and cash flow.
The aging demographic in North America has ushered in
a surge in the demand for eye care services. As individuals grow older, they
become more susceptible to various ocular conditions, such as cataracts,
glaucoma, and macular degeneration. Consequently, the eye care market has
witnessed a significant upswing in patient numbers.
In today's fast-paced world, people rely heavily on
screens for work, communication, and leisure. Prolonged screen time can lead to
digital eye strain, dry eyes, and other visual discomforts. Proper eye care
helps individuals manage these issues, ensuring they can use digital devices
comfortably and efficiently. In a fast-paced work environment, productivity and
efficiency are paramount. Good eye health ensures that individuals can work
effectively without being hindered by vision problems. Regular eye exams can
detect and address issues early, minimizing disruptions to work schedules. Whether
driving, operating machinery, or performing other tasks, clear and healthy
vision is essential for safety. Eye care helps individuals maintain optimal
vision, reducing the risk of accidents and injuries in fast-paced settings. Eye
strain and discomfort can contribute to stress and fatigue. Effective eye care
practices, including taking regular breaks, using proper lighting, and
addressing vision issues promptly, can reduce stress levels and enhance overall
well-being. In a competitive job market, individuals often need to perform at
their best. Good eye care can give them a competitive edge by ensuring they
have clear, comfortable vision and can excel in their roles. Eye care is vital
for preventing vision loss and managing eye diseases. Detecting conditions like
glaucoma, cataracts, and macular degeneration early through regular eye exams
can preserve vision and quality of life.
The growing convenience and accessibility of
telemedicine has emerged as a game-changer. Patients can now consult with eye
care specialists from the comfort of their homes. This technological leap has
expanded the reach of eye care services, especially in remote areas.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "North America Eye Care Market.”
In recent times, people spend extended hours in front
of screens, whether for work, education, or leisure. Prolonged screen time can
lead to digital eye strain, dry eyes, and discomfort. Proper eye care provides
strategies and solutions to alleviate these issues, ensuring individuals can
use digital devices comfortably and without adverse effects on their eyes. The
COVID-19 pandemic accelerated the shift towards remote work and virtual
learning. As more tasks are performed on screens, the importance of eye care
has grown. Regular eye check-ups help detect and address vision problems,
ensuring that remote workers and students can perform effectively. Telehealth
and telemedicine have become integral parts of healthcare delivery, including
eye care. Patients can now access remote consultations with eye care
specialists, receive prescriptions, and manage certain eye conditions from the
comfort of their homes, making healthcare more accessible and convenient.
However, the Access Disparities and Healthcare Inequality may hinder market
growth. Moreover, challenges related to Regulatory Challenges and Insurance
Coverage may pose obstacles to the Eye Care market in the near future.
The North America Eye Care Market is segmented into product
type, coating, Lens Material, distribution channel, regional distribution, and
company.
Based on its product type, the eyeglasses segment has
emerged as the predominant market leader, The high prevalence of refractive
errors in North America. Refractive errors are the most common eye condition in
the world, and they can cause blurry vision at near, far, or all distances.
Eyeglasses are a common and effective treatment for refractive errors. The
increasing popularity of prescription sunglasses. Prescription sunglasses offer
the same vision correction as eyeglasses, but they also protect the eyes from
harmful UV rays. The growing demand for stylish and fashionable eyeglasses.
Eyeglasses are now seen as a fashion accessory, and there is a wide range of
styles available to suit all tastes. These factors are expected to drive the
growth of this segment.
Based on region, United States segment is expected to
grow during the forecast period. The U.S. boasts one of the most
advanced healthcare infrastructures globally, with a vast network of eye care
clinics, hospitals, and specialized facilities. Access to state-of-the-art
diagnostic tools and treatment options is readily available, attracting
patients seeking top-tier eye care services. The U.S. is a hub for medical
research and innovation, including eye care. Leading institutions and
universities conduct groundbreaking research in ophthalmology, driving the
development of cutting-edge treatments and technologies. Collaboration between
academia and the private sector fosters continuous advancements in eye care.
The U.S. consistently ranks among the top countries in terms of healthcare
expenditure, including eye care. The willingness of patients and insurance
systems to invest in eye health contributes to the growth of the market.
Competition among eye care providers and medical facilities in the U.S. encourages
the adoption of the latest technologies and treatments to attract patients.
The Canada market is poised to be the fastest-growing
market, offering lucrative growth opportunities for Eye Care players during the
forecast period. Factors such as Canada has been proactive in raising awareness
about eye health and preventive care. Public health campaigns and educational
initiatives have encouraged regular eye check-ups and early detection of eye
conditions. Canada has been expanding its teleophthalmology services to reach
remote and underserved areas. Telemedicine initiatives ensure that patients
across vast geographical areas have access to eye care specialists. Government
support for healthcare infrastructure and investments in ophthalmology research
contribute to market growth. Publicly funded healthcare systems ensure that a
significant portion of the population can access eye care services. Similar to
the United States, Canada is experiencing an aging population..
Major companies operating in North America Eye
Care Market are:
- Luxottica Retail North America Inc.
- Bausch Health Companies, Inc.
- Johnson & Johnson Vision Care,
Inc.
- Alcon Laboratories, Inc.
- Hoya Vision Care North America
- CopperVision Inc.
- Menicon America, Inc.
- AbbVie Inc.
- Carl Zeiss Meditec AG.
- F. Hoffmann-La Roche AG: Genentech,
Inc
Download Free Sample Report
Customers can also request for 10%
free customization on this report.
“The Technological Advancements and increasing eye
health awareness are key drivers of the Eye Care market. In recent years, the
growing Public awareness campaigns and educational initiatives have encouraged
regular eye check-ups and early disease detection, fostering a culture of
proactive eye care. Moreover, the growing consumer emphasis on preventative
healthcare products has enhanced production and marketing efforts. To meet the
demands of the market, manufacturers are increasingly incorporating cutting-edge
technologies with high production efficiency. Rising consumer acceptance and
continuous product innovation will further ensure the growth of the Eye Care
and supplements market in the coming years.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“North America Eye Care Market Segmented By
Product Type (Anti-Glare, UV, Others), By Lens Material (Normal Glass, Polycarbonate,
Trivex, Others), By Distribution Channel (Retail Stores, E-Commerce, Clinics,
Hospitals), By Country, Competition, Forecast, Opportunities, 2018-2028F”, has evaluated
the future growth potential of North America Eye Care Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in North America Eye Care Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: www.techsciresearch.com