Tuesday, 02 January 2024 12:17 GMT

Vision Care Market Predicted To Exceed USD 94.33 Billion By 2033, Rising At A CAGR Of 2.75%


(MENAFN- IMARC Group) Market Overview:

The vision care market is experiencing rapid growth, driven by rising prevalence of eye disorders, technological advancements in vision care, and growing awareness and accessibility. According to IMARC Group's latest research publication,“ Vision Care Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033 “, The global vision care market size was valued at USD 73.73 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 94.33 Billion by 2033, exhibiting a CAGR of 2.75% from 2025-2033.

This detailed analysis primarily encompasses industry size, business trends, market share, key growth factors, and regional forecasts. The report offers a comprehensive overview and integrates research findings, market assessments, and data from different sources. It also includes pivotal market dynamics like drivers and challenges, while also highlighting growth opportunities, financial insights, technological improvements, emerging trends, and innovations. Besides this, the report provides regional market evaluation, along with a competitive landscape analysis.

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Our report includes:

  • Market Dynamics
  • Market Trends And Market Outlook
  • Competitive Analysis
  • Industry Segmentation
  • Strategic Recommendations

Growth Factors in the Vision Care Industry

  • Rising Prevalence of Eye Disorders:

More people are facing vision issues due to increased screen time and changing lifestyles. Around 2.2 billion people globally suffer from vision impairment, with 1 billion cases preventable or treatable, according to the World Health Organization. Conditions like myopia, cataracts, and digital eye strain are surging, especially among younger populations glued to smartphones and computers. For instance, the average American spends nearly seven hours daily on digital devices, driving demand for corrective lenses and specialized eyewear like blue light-blocking glasses. Government initiatives, such as India's National Programme for Control of Blindness, which supports 6 million cataract surgeries annually, are expanding access to care. This growing need for vision solutions is pushing companies to innovate and meet rising consumer demand.

  • Technological Advancements in Vision Care:

Innovations in eye care technology are transforming the industry, making treatments more effective and accessible. Advanced procedures like LASIK, with over 700,000 surgeries performed yearly in the U.S., offer permanent vision correction, reducing reliance on glasses. Companies like Johnson & Johnson have introduced cutting-edge products, such as the TECNIS Synergy IOL, enhancing cataract surgery outcomes with high-contrast vision. AI-driven diagnostics and 3D-printed biosynthetic corneas are also gaining traction, improving early detection and personalized care. Government support, like the U.S.'s Patient Protection and Affordable Care Act mandating pediatric eye care, fuels adoption of these technologies. These advancements are making vision care more precise and appealing, encouraging more people to seek solutions and boosting market growth.

  • Growing Awareness and Accessibility:

People are becoming more aware of eye health, thanks to global campaigns and better access to care. Initiatives like VISION 2020 – The Right to Sight, backed by the World Health Organization, promote eye health awareness and aim to prevent avoidable blindness. In Canada, the Canadian Association of Optometrists launched a digital campaign in 2024 to encourage regular eye exams. Teleophthalmology is also expanding, allowing rural populations to consult specialists virtually. Retail stores and e-commerce platforms make products like contact lenses more accessible, with online stores growing rapidly due to convenience and virtual try-on tools. This heightened awareness, combined with improved access, is driving demand for vision care products and services worldwide, as more people prioritize eye health.

Trends in the Global Vision Care Market

  • Surge in Blue Light-Blocking and Protective Eyewear:

With screen time skyrocketing, blue light-blocking lenses are booming as people seek protection from digital eye strain. Studies show Millennials often report symptoms like dry eyes and headaches from prolonged device use, with the average American spending nearly seven hours daily on screens. Companies like EssilorLuxottica have rolled out specialized lenses to filter blue light, gaining popularity among professionals and gamers. These lenses are now a staple in both prescription and non-prescription eyewear. Retail stores and online platforms are seeing increased sales of these products, reflecting a shift toward preventive eye care. This trend is reshaping the eyewear market, as consumers prioritize comfort and long-term eye health in a digital world.

  • Rise of Sustainable Vision Care Products:

Sustainability is becoming a key focus in vision care, with companies launching eco-friendly products to appeal to environmentally conscious consumers. Brands like Bausch + Lomb are introducing biodegradable contact lens packaging and frames made from recycled materials. This shift responds to growing demand for green products, with some manufacturers reporting a 20% increase in sales of sustainable eyewear. Consumers are also choosing durable, high-quality lenses to reduce waste. Government policies promoting sustainable manufacturing practices further support this trend. For example, initiatives encouraging recycling in healthcare are gaining traction in Europe and North America. This eco-conscious movement is not only attracting new customers but also aligning the industry with global sustainability goals.

  • Integration of AI and Smart Technology:

AI and smart technology are revolutionizing vision care with innovative diagnostics and personalized solutions. Smart contact lenses, like those developed by Johnson & Johnson, can monitor glucose levels or intraocular pressure, aiding diabetes and glaucoma management. AI-powered diagnostic tools are improving early detection of conditions like diabetic retinopathy, which affects 4.8% of global blindness cases, per the World Health Organization. ZEISS's VISUCORE 500, launched in 2024, offers advanced refraction technology for precise vision assessments. These technologies enhance patient outcomes and streamline care, especially in underserved areas through teleophthalmology. As adoption grows, these smart solutions are setting new standards for proactive and tailored eye care worldwide.

Leading Companies Operating in the Global Vision Care Industry:

  • Alcon Inc.
  • Bausch Health Companies Inc.
  • CooperVision
  • Essilor
  • EssilorLuxottica
  • HOYA Corporation
  • Johnson & Johnson Vision Care, Inc.
  • Menicon
  • ZEISS Vision

Vision Care Market Report Segmentation:

Breakup By Product Type:

  • Glass Lenses
  • Contact Lenses
  • Intraocular Lenses
  • Contact Solutions
  • LASIK Equipment
  • Artificial Tears

Glass lenses account for the majority of shares as they offer excellent ultraviolet (UV) protection, shielding the eyes from harmful ultraviolet rays.

Breakup By Distribution Channel:

  • Retail Stores
  • Online Stores
  • Clinics
  • Hospitals

Retail stores dominate the market due to the rising focus on enhanced convenience and brand visibility.

Breakup By Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

North America enjoys the leading position owing to a large market for vision care driven by the presence of advanced healthcare infrastructure.

Research Methodology:

The report employs a comprehensive research methodology , combining primary and secondary data sources to validate findings. It includes market assessments, surveys, expert opinions, and data triangulation techniques to ensure accuracy and reliability .

Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.

About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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