Canada eye care market is anticipated
to witness impressive growth during the forecast period. This can be
ascribed to the owing to advent of innovative technologies has
enabled and increase in the demand for higher value eye care products across
the region. Similarly, developing healthcare infrastructure and increasing
affordability of vision care products will further drive the growth of Canada eye
care market in the forecast period. Also, increasing awareness regarding ocular
diseases in the region and growing adoption of vision care products will
further influence the growth of Canada eye care market over the years. In
November 2022, aided by an increase in funding of USD 750,000 from the Juravinski
Research Institute (JRI), research was initiated to study AMD among the
elderly, which includes various devices for diagnosis which is likely to
increase the usage of devices and is expected to drive the market.
Growing Aging Population
The aging population in Canada is one of
the key drivers of growth in the eye care market. As Canadians age, their risk
of developing vision problems such as cataracts, macular degeneration, and
glaucoma increases, which creates a growing demand for eye care services and
products. In addition, as the population ages, there is also a growing demand
for eyewear and contact lenses. Many seniors require glasses or contact lenses
to correct vision problems, which has led to a growing demand for these
products. Another factor driving growth in the eye care market is the
increasing prevalence of age-related eye diseases such as cataracts and macular
degeneration. These conditions are more common among older individuals, and as
the population ages, the number of Canadians with these conditions is expected
to increase.
Technological Advancements
Technological advancements have had a
significant impact on the growth of the Canada eye care market. Innovations in
eye care technology have led to the development of new products and services
that are more effective, efficient, and user-friendly. Technological
advancements have led to the development of new and more accurate diagnostic
tools for eye care professionals. These tools, such as optical coherence
tomography (OCT) and corneal topography, allow eye care professionals to
diagnose and monitor eye conditions more accurately and effectively. Advances
in surgical technology have made eye surgeries safer and more effective. For
example, the use of lasers in procedures such as LASIK has made the surgery
less invasive and more precise, with faster recovery times. Technological
advancements have led to the development of new eye care products, such as
contact lenses that can correct multiple vision problems at once, and
eyeglasses with anti-glare coatings that reduce eye strain. The use of
telemedicine technology has made it possible for patients to receive eye care
services remotely. This has been particularly important during the COVID-19
pandemic, as it has allowed patients to access eye care services without
leaving their homes.
Changing Consumer Preference
Changing consumer preferences have had a
significant impact on the growth of the Canada eye care market. Consumers are
increasingly interested in eye care products and services that are convenient,
affordable, and cater to their specific needs. Consumers are increasingly
turning to online sales channels to purchase eyewear and contact lenses. Online
sales have become more popular due to the convenience and competitive pricing
they offer, which has led to the growth of online eyewear retailers. Consumers
are increasingly looking for eye care products and services that are tailored
to their specific needs. This has led to the development of customized eyeglasses
and contact lenses that are designed to fit individual prescriptions and
lifestyles. Consumers are placing greater emphasis on the fashion and style
aspects of eyewear and are seeking out products that are both functional and
stylish. This has led to the growth of designer eyewear brands and the
development of eyewear products that incorporate fashion-forward design
elements. Consumers are becoming more health-conscious and are seeking out eye
care products and services that promote eye health and wellness. This has led
to the development of products such as blue light blocking glasses, which are
designed to reduce eye strain and fatigue caused by digital devices.
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Increasing Government Initiatives
Government initiatives have played an
important role in influencing the growth of the Canada eye care market. The
Canadian government has implemented several policies and initiatives aimed at
improving access to eye care services, promoting eye health, and supporting the
development of innovative eye care products and services. Canada has a publicly
funded healthcare system that provides access to basic eye care services for
all residents. This has helped to increase the overall demand for eye care
services and has created opportunities for eye care professionals and industry
leaders. The Canadian government provides funding for research and development
in the field of eye care, which has helped to drive innovation and the
development of new products and services. For example, the Canadian government
has funded research into the use of stem cells to treat eye diseases and the
development of new diagnostic tools for eye care professionals. The Canadian
government provides tax incentives for individuals who purchase eye care
products and services, which has helped to increase the affordability of these
products and services. This has led to increased demand for eye care products
and services and has created new opportunities for industry leaders. The
Canadian government has implemented health promotion initiatives aimed at
raising awareness about the importance of eye health and preventing eye
diseases. These initiatives have helped to promote the use of eye care services
and products and have created new opportunities for eye care professionals and
industry leaders.
Increasing Awareness Regarding
Preventive Care for Eye Health
Increasing awareness has had a significant
impact on the growth of the Canada Eye Care Market. As more people become aware
of the importance of eye health, they are more likely to seek out eye care
services and products, which has led to increased demand for these services and
products. Increased awareness of the importance of regular eye exams has led to
more people seeking out eye care services for early detection and treatment of
eye diseases. This has increased demand for eye care services and has created
new opportunities for eye care professionals and industry leaders. Awareness
campaigns aimed at promoting eye health and preventing eye diseases have helped
to increase demand for eye care products and services. This has led to the
development of new products and services, such as blue light blocking glasses
and vision supplements, that are designed to promote eye health and prevent eye
diseases. Increased awareness has led to more people being educated about the
importance of eye health and the different types of eye care products and services
available. This has helped to increase demand for these products and services
and has created new opportunities for industry leaders. Awareness campaigns
have helped to increase awareness of the availability of eye care services and
products, which has led to increased accessibility. This has created new
opportunities for eye care professionals and industry leaders, particularly in
underserved communities.
Recent Developments
- CooperVision
MiSight 1 Day Contact Lenses: In 2019, CooperVision launched their MiSight
1 Day Contact Lenses in Canada. These contact lenses are designed for
children with myopia (nearsightedness) and are the first and only contact
lenses approved by Health Canada to slow the progression of myopia in
children.
- Alcon
DAILIES TOTAL1 Multifocal Contact Lenses: In 2020, Alcon launched their
DAILIES TOTAL1 Multifocal Contact Lenses in Canada. These lenses are
designed to provide clear vision at all distances for people with presbyopia
(age-related farsightedness).
- Bausch +
Lomb Lumify Eye Drops: In 2021, Bausch + Lomb launched their Lumify Eye
Drops in Canada. These eye drops are designed to reduce redness in the
eyes and provide relief from dry eye symptoms.
- Hoya
Vision MiYOSMART Lenses: In 2021, Hoya Vision launched their MiYOSMART
lenses in Canada. These lenses are designed for children with myopia and
use a unique dual-focus technology to reduce the progression of myopia.
Market
Segmentation
Canada eye care market can be segmented by
product type, coating, lens material, distribution channel. and region. Based
on product type, Canada eye care market can be segmented into eyeglasses, contact lens, intraocular lens, eye care, and
others. Based on coating, Canada eye care market can be grouped into anti-glare,
anti-reflecting, and others. Based on lens material, Canada eye care market can
be segmented into normal glass, polycarbonate, trivex, and others. Based on distribution
channel, Canada eye care market can be segmented into retail stores,
e-commerce, clinics, and hospitals. Regionally, Canada Eye Care Market can be
categorized into Ontario, Quebec, Alberta, British Columbia and Saskatchewan
and Manitoba.
Market Players
Alcon Canada Inc, Allergan Inc/Canada.,
Novartis Pharmaceuticals Canada Inc, Essilor Network in Canada Inc, Johnson
& Johnson Inc/Canada., Bausch & Lomb Canada Inc., Abbott Products
Canada Inc., and Pfizer Canada Inc are some of the leading players operating in
the Canada eye care market.
|
Attribute
|
Details
|
|
Base
Year
|
2022
|
|
Historic Data
|
2018 –
2021
|
|
Estimated
Year
|
2023
|
|
Forecast Period
|
2024
– 2028
|
|
Quantitative
Units
|
Revenue
in USD Million, and CAGR for 2018-2022 and 2023-2028
|
|
Report Coverage
|
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
|
Product Type Coating
Lens Material
Distribution
Channel
Region
|
|
Regional Scope
|
Ontario
region; Quebec region; Alberta region; British Columbia region; Saskatchewan
and Manitoba region; Rest of Canada
|
|
Key
Companies Profiled
|
Alcon
Canada Inc, Allergan Inc/Canada., Novartis Pharmaceuticals Canada Inc,
Essilor Network in Canada Inc, Johnson & Johnson Inc/Canada., Bausch
& Lomb Canada Inc., Abbott Products Canada Inc., Pfizer Canada Inc
|
|
Customization Scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and Purchase Options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery Format
|
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
|
Report Scope:
In this report, the Canada eye
care market has been segmented into the following categories, in addition to
the industry trends which have also been detailed below:
- Canada Eye Care Market, By Product Type:
o
Eyeglasses
o
Contact Lens
o
Intraocular Lens
o
Eye Care
o
Others
- Canada Eye Care Market, By Coating:
o
Anti-Glare
o
Anti-Reflecting
o
Others
- Canada Eye Care Market, By Lens Material:
o
Normal Glass
o
Polycarbonate
o
Trivex
o
Others
- Canada Eye Care Market, By Distribution Channel:
o
Retail Stores
o
E-Commerce
o
Clinics
o
Hospitals
- Canada Eye Care Market, By Region:
o
Ontario
region
o
Quebec
region
o
Alberta
region
o
British
Columbia region
o
Saskatchewan
and Manitoba region
o
Rest of
Canada
Competitive Landscape
Company Profiles: Detailed analysis of the
major companies present Canada eye care market.
Available Customizations:
With the given market data,
TechSci Research offers customizations according to a company’s specific needs.
The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market
players (up to five).
Canada eye care
market is an upcoming report to be released soon. If you wish an early delivery
of this report or want to confirm the date of release, please contact us at [email protected]