Insights on the Eye Care Global Market to 2026 - Featuring EssilorLuxottica, Bausch Health and Alcon Among Others

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Jul 02, 2021, 10:15 ET

DUBLIN, July 2, 2021 /PRNewswire/ -- The "Global Eye Care Market, By Product Type (Eyeglasses, Eye Drops, Contact Lens, Intraocular Lens, Eye Vitamins, Others), By Eye Drops (Prescription v/s Over-The-Counter), By Coating, By Lens Material, By Distribution Channel, By Region, Competition Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.

The Global Eye Care Market stood at USD57.65 billion in 2020 and is expected to witness a significant growth of 6.95% during the forecast period. This can be attributed to the growing consciousness among the population pertaining to different eye diseases such as myopia, hypermetropia, dry eye syndrome, astigmatism, among others. Also, growing prevalence of different ocular problems worldwide is further expected to fuel the market growth over the next few years. According to WHO, globally around 2.2 billion people have a vision impairment out of which 1 billion have vision impairment that could have been prevented or is yet to be addressed. Around 2.6 billion population suffers from myopia of which 312 million are under 19, and 1.8 billion suffers from presbyopia.

Additionally, growing geriatric population is susceptible to various eye care diseases including age related macular degeneration, diabetic retinopathy, glaucoma, among others, which is further expected to fuel the market growth over the next few years. Around 196 million population suffers from age-related macular degeneration, 146 million suffers with diabetic retinopathy, 76 million with glaucoma and 2.5 million with trachomatous trichiasis. Furthermore, technological advancements such as launch of smart glasses by companies around the globe, advancements in intraocular lens, augment of tele-optometry, among others is further expected to create lucrative opportunities for the market growth over the next five years.

The Global Eye Care Market can be segmented based on product type, coating, lens material, distribution channel, region, and company. Based on product type, the market can be categorized into eyeglasses, eye drops, contact lens, intraocular lens, eye vitamins and others. The contact lens segment is expected to register significant growth during the forecast period on account of the growing preference of contact lens over prescription eyeglasses among the population especially the youth and working women population on account of their aesthetic value. Also, other benefits of contact lenses over eyeglasses such as predictable vision correction, better eyesight as compared to eyeglasses, among others have significantly increased the demand for contact lenses. Additionally, the use of different contact lenses for the treatment of various eye disorders such as myopia, hypermyopia, presbyopia, astigmatism, among others is further expected to support the segmental growth.

Based on region, North America dominated the overall eye care market in 2020 with a market share of around 36.52% owing to the growing geriatric population in the region, growing awareness pertaining to different eye related diseases and ocular health in the region, among others.

Major companies operating in the Global Eye Care Market include EssilorLuxottica SA, Bausch Health Companies, Inc., Johnson & Johnson, Alcon, Inc., Hoya Corporation, among others. The market players are working on strategic collaborations to increase their global reach. They are also investing in research and development activities to develop and launch new, advanced, and innovative eye care products into the market. For instance, in August 2020, Bausch & Lomb launched -2.75 cylinder for Biotrue ONE Day daily disposable contact lenses for the treatment of astigmatism. Also, in August 2020, Menicon announced the opening of the Menicon future device research laboratory in Japan wherein research & development activities will be carried out to develop technologically advanced contact lenses and eye care products.

Objective of the Study:

To analyze the historical growth in the market size of the Global Eye Care Market from 2016 to 2020.
To estimate and forecast the market size in the Global Eye Care Market from 2021 to 2026 and growth rate until 2026.
To classify and forecast the Global Eye Care Market based on product type, by coating, by lens material, distribution channel, region and company.
To identify drivers and challenges for the Global Eye Care Market.
To examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in the Global Eye Care Market.
To conduct pricing analysis for the Global Eye Care Market.
To identify and analyze the profile of leading players operating in the Global Eye Care Market.

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on Global Eye Care Market

4. Executive Summary

5. Voice of Customer
5.1. Brand Awareness
5.2. Common Eye Problems Among Respondents
5.3. Factors Affecting Purchase Decision of Eye Care Products

6. Global Eye Care Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Product Type (Eyeglasses, Eye Drops, Contact Lens, Intraocular Lens, Eye Vitamins, Others)
6.2.1.1. By Eye Drops (Prescription v/s Over-The-Counter)
6.2.2. By Coating (Anti-Glare, UV Coating, Others)
6.2.3. By Lens Material (Polycarbonate, Normal Glass, Trivex, Others)
6.2.4. By Distribution Channel (Retail Stores, E-Commerce, Clinics, Hospitals)
6.2.5. By Company (2020)
6.2.6. By Region
6.3. Product Market Map

7. North America Eye Care Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Product Type (Eyeglasses, Eye Drops, Contact Lens, Intraocular Lens, Eye Vitamins, Others)
7.2.1.1. By Eye Drops (Prescription v/s Over-The-Counter)
7.2.2. By Coating
7.2.3. By Lens Material
7.2.4. By Distribution Channel
7.2.5. By Country
7.3. : North America Country Analysis
7.3.1. United States Eye Care Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Product Type
7.3.1.2.2. By Coating
7.3.1.2.3. By Lens Material
7.3.1.2.4. By Distribution Channel
7.3.2. Canada Eye Care Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Product Type
7.3.2.2.2. By Coating
7.3.2.2.3. By Lens Material
7.3.2.2.4. By Distribution Channel
7.3.3. Mexico Eye Care Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Product Type
7.3.3.2.2. By Coating
7.3.3.2.3. By Lens Material
7.3.3.2.4. By Distribution Channel

8. Europe Eye Care Market Outlook

9. Asia Pacific Eye Care Market Outlook

10. South America Eye Care Market Outlook

11. Middle East and Africa Eye Care Market Outlook

12. Market Dynamics
12.1. Drivers
12.2. Challenges

13. Market Trends & Developments

14. Competitive Landscape
14.1. Competition Outlook
14.2. Company Profiles (SWOT Analysis of Top 5 Players Profiled)
14.2.1. EssilorLuxottica SA
14.2.2. Bausch Health Companies, Inc.
14.2.3. Johnson and Johnson
14.2.4. Alcon Inc
14.2.5. Hoya Corporation
14.2.6. CooperVision Inc
14.2.7. Menicon Co Ltd
14.2.8. AbbVie, Inc.
14.2.9. Carl Zeiss Meditec AG
14.2.10. Novartis AG
14.2.11. F. Hoffmann-La Roche AG
14.2.12. Safilo Group S.P.A.
14.2.13. Fielmann AG
14.2.14. Avizor SA
14.2.15. Pfizer Inc.

15. Strategic Recommendations

16. About the Publisher & Disclaimer