Asia Pacific Eye Care Markets, 2022-2024 & 2028F - Manufacturers Looking to Mergers & Acquisitions, Product Launches, & Technological Advancements

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Jan 09, 2023, 12:45 ET

DUBLIN, Jan. 9, 2023 /PRNewswire/ -- The "Asia Pacific Eye Care Market, By Product Type (Eyeglasses, Contact Lens, Intraocular Lens, Eye Drops, Others), By Coating (Anti-Glare, Anti reflecting, Others), By Lens Material, By Distribution Channel, By Country, Competition, Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.

Asia Pacific eye care market is expected to witness a significant growth during the forecast period, 2024-2028

The growing technological innovations and improvements in eye care are expected to bolster the growth of the market in upcoming years. Technological advancements such as implementation of nanotechnology, artificial retinas containing electrodes, and use of robots with human intelligence in eye surgery for precise placement of surgical tools.

Also, rising governments focus to improve the healthcare infrastructure along with various awareness programs organised by the government regarding ocular diseases are acting as major booster for eye care market. Additionally, the rising eye problems such as glaucoma, cataract, refractive error, trachoma, and others, are affecting millions of people.

The growing popularity of laptop, smartphones, and other kind of electronic devices among young generation are increasing the incidences of eye related problems, which, in turn, is anticipated to facilitate the growth of the market.

The region is undergoing rapid urbanisation along with increasing investments by the public and private sectors are projected to drive the Asia-Pacific eye care market. Moreover, Asian people have easy access to less expensive eye care products as they are made locally in the region. In this region countries like India, China, Japan, among others are expected to bolster the growth of the market in coming years.

This is because of the increasing population in these countries. In India and China, the major factor is the increasing population. According to the United Nations report, in 2022, India's population is 1.412 billion, and 1.426 billion in China. Moreover, in Japan, country has the rising geriatric population, which are more susceptible to eye related problems. In 2020, the population aged 65 years and above in Japan reported for approximately 28.4 percent of the total Japanese population.

However, lack of awareness among people about the early symptoms of visual impairment is hindering the growth of the market. Also, people living in rural areas are unaware of the eye care products and services are hampering the growth of the market. Besides, rising contact lens-related complications and harmful effects with use of certain eye care products are expected to slow down the growth of the Asia-Pacific eye care market growth.

Asia Pacific eye care market is segmented into product type, coating, lens material, distribution channel, company, and country. Based on product type, the market is categorized into eyeglasses, contact lens, intraocular lens, eye drops and others. Here, the intraocular lens segment, is expected to register the highest growth during the forecast period. This is ascribed to the rising prevalence of cataract along with the rising number of cataract surgeries.

Major companies operating in Asia-Pacific eye care market include Luxottica Group, GKB Rx Lens Pvt. Ltd., Essilor Group, Carl Zeiss AG, Bausch + Lomb, Alcon Inc., Cooper Companies, Inc., Rayner Intraocular Lenses Limited, Menicon Co., Ltd., and Johnson & Johnson Services, Inc.

Eye care manufacturers are hugely investing on R&D activities and are launching new generation eye care products, featuring innovative materials to enhance their product portfolio.

Market Trends & Developments

Mergers & Acquisitions
Product Launches
Technological Advancements

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Asia Pacific eye care market.

Luxottica Group
GKB Rx Lens Pvt. Ltd.
Essilor Group
Carl Zeiss AG
Bausch & Lomb
Alcon Inc.
Cooper Companies, Inc.
Rayner Intraocular Lenses Limited
Menicon Co., Ltd.
Johnson & Johnson Services, Inc.

Report Scope:

In this report, Asia Pacific eye care market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Asia Pacific Eye Care Market, By Product Type: