Eye Care Market to Grow at CAGR of 6.31% by 2026
Increasing adoption of
eyeglasses and lenses due to the rising myopic and hypermetropic population is
expected to drive the growth of the Global Eye Care Market.
According to recently released TechSci Research
report
“Global Eye Care Market By Product Type (Eyeglasses,
Contact Lens, Intraocular Lens, Eye Drops, Others), By Coating (Anti-Glare, UV
coating, Others), By Lens Material (Normal Glass, Polycarbonate, Trivex,
Others), By Distribution channel (Retail stores, E-commerce, Clinics, Hospitals),
By Region, Forecast & Opportunities, 2026F”, Global Eye Care Market is forecast to grow at CAGR of 6.31%
in value terms to reach USD75.61 billion by 2026F. Increasing demand for
eyeglasses and lenses has been generated from the country’s rising children and
geriatric population. Growing awareness towards eye health and increasing
prevalence of various eye disorders, furthermore, increasing usage of
electronic devices such as smartphones have led to various eye related
disorders, which is propelling the Global Eye Care Market.
Advent of innovative technologies in the eye care
industry has enabled manufacturers to launch new products, which is expected to
drive market growth in the coming years. Moreover, initiatives taken by
governments and various health organizations to spread awareness about eye care
are providing major boost for the market growth. The growing geriatric
population base is also acting as a key factor for the growth of the eye care market
as they are highly prone to one or more vision related disorders and diseases.
The value
share of contact lenses is anticipated to reach up to 21.23% by 2026F, owing to
the continuous launch of innovative products and rising disposable incomes. Major companies operating in the Global Eye Care Market include Alcon
Inc, Allergan Inc, Essilor Luxottica SA, Johnson and Johnson, Hoya Corporation,
Bausch and Lomb Inc, F. Hoffmann-La Roche AG, Carl Zeiss Meditec AG,
CopperVision Inc, Menicon Co Ltd., Pfizer Inc., Novartis AG, Merc & Co.
Inc, Interojo Inc, and Avizor SA, among others. The market players are
working on strategic collaborations to increase their global reach. They are
also investing in R&D activities to launch new and innovative eye care products
into the market.
Browse
131 Figures spread through 110 Pages and an
in-depth TOC on "Global Eye Care Market”
https://www.techsciresearch.com/report/eye-care-market/4879.html
In
terms of distribution channel, e-commerce segment is expected to dominate
the market during the forecast period as they offer a variety of eye care
products to choose from and some of them also offer products at a discounted
price. Some of these e-commerce sites are also introducing online testing,
where one can check the status of their eyes and take professional advice.
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North
America is a key market for eye care products owing to the early technological
advancements in the eye care industry. Additionally, increasing expenditure by
governments in countries such as United States and Canada on healthcare is
acting as a major booster for market growth in the region. However, the rising
prevalence of various eye disorders in Asia-Pacific is expected to make the
region a lucrative market for the eye care industry over the coming years,”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Global Eye Care Market By Product Type (Eyeglasses, Contact
Lens, Intraocular Lens, Eye Drops, Others), By Coating (Anti-Glare, UV coating,
Others), By Lens Material (Normal Glass, Polycarbonate, Trivex, Others), By
Distribution channel (Retail stores, E-commerce, Clinics, Hospitals), By
Region, Forecast & Opportunities, 2026F’ has evaluated
the future growth potential of the Global Eye Care market and provided
statistics and information on market size, shares, 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 Global Eye Care Market.
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