Westford, USA, Sept. 08, 2022 (GLOBE NEWSWIRE) -- As the population grows older, more people are developing problems with their vision. This has led to a growing demand for services in global vision care market, which in turn has created a plethora of businesses that offer this type of care. Some of the most popular vision care services include reading glasses, contact lenses, and cleaning & disinfecting solutions. Other services that are popular include eye exams and surgeries to correct vision problems.
As per WHO, almost 2.2 billion people are living with some form of vision impairment across the global vision care market. Wherein, majority of the population is over the age of 50. In fact, vision impairment is the number one cause of disability in older adults.
To accommodate this growing demand for vision care, many eye clinics and hospitals are investing in new technology and equipment. For example, some clinics are now using digital retinal scanning technology to detect early signs of retinitis pigmentosa, an eye disease that can cause blindness. Others in the vision care market are investing in eye surgery machines that can create 3-D images of a patient's eyes. these clinics work to meet the needs of their customers, they are also developing innovative ways to market their services.
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380 Million People are Diagnosed with Vision Impairment Annually
As the population ages, eye diseases are becoming more and more common. This growth is due in part to an increase in the number of people who are obese or have diabetes, both of which can lead to vision problems. Other factors that are contributing to the prevalence of eye diseases in the vision care market include the use of contact lenses and increasing rates of cataracts and glaucoma.
- Every year, over 30 million people around the globe undergo laser eye surgery
- In 2021, 10.5 million American underwent Lasik surgery
- 12 million Americans above 40 years are diagnosed with some form of vision impairment
- 90 million in world are likely to face permanent vision loss due to negligence
- 50% of Indian delay taking vision care or needed treatment due to negligence
There are a variety of eye diseases that can affect people in vision care market, but some of the most common ones include: Cataracts, Glaucoma, Diabetes, Retinal detachment, Open angle glaucoma.
SkyQuest has mapped the global demand for vision care market and prepared a report on the overall prevalence and need for vision care. The report provides a detailed analysis of demand and supply, revenue by treatment option, technology landscape, top players offering products, among others. The reports cover a detailed analysis of eye disease epidemiology.
SkyQuest Survey Reveals over 50% Global Population Use Eye Glasses
Survey of eye care finds that eyeglasses are important for a significant minority of users especially those in their early to mid-30s. For example, 53% of women and 47% of men in their early to mid-30s say they wear glasses or contact lenses.
We see this as an opportunity for eyeglass manufacturers. Especially because so many young adults are starting to wear glasses or contact lenses, we expect them to be major buyers over the next five years. The survey found that overall, more than three quarters (77%) of respondents believe the importance of eye care has increased in the past few years; however, there is still concern about incorrect diagnosis and treatment. In particular, 49% say they are very concerned about this problem. As per WHO, over 0.7–2% people who underwent eye surgery need another surgery for vision correction.
33% of adults visit an ophthalmologist annually and 21% visit a optometrist.
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Focusing on technology, the study finds that 67% of medical professionals believe that new developments in eyeglasses technology will improve patient care and 57% believe that thermal imaging will have a significant impact on patient care. Overall, 84% of physicians surveyed think AI will have a significant impact on patient care in the next five years.
Consequently, eye doctors are increasingly focused on using cutting-edge technology to improve patient care outcomes.
Top 10 Players Captured More than 55% Global Vision Care Market
The vision care industry is booming and there are many manufacturers vying for a piece of the pie, but top 10 players in the vision care market are holding dominance with over 55% market share. Here's a look at how some are competing in this growing vision care market.
One of the ways that manufacturers are competing in the vision care industry is by providing more affordable options. For example, one manufacturer offers a glasses option that costs $99 per year. In addition, they offer bifocal and trifocal lenses to fit different needs. SkyQuest has identified another way that manufacturers in the global vision care market are competing is by developing new technology. One manufacturer is using artificial intelligence to help detect eye diseases early on. This can help save patients from having to go through expensive surgeries later on down the road.
Lastly, some manufacturers are focusing on customer service. They want to make sure that their customers feel like they're valued and that they're able to get assistance when they need it.
SkyQuest has found the several leading manufacturers in the global vision care market are taking advantage of the changing market climate to develop new products and services for the vision care industry. Some are developing products that focus on new technology, while others are focusing on providing more comprehensive care. Regardless of their strategy, all manufacturers are aiming to win over customers by providing high-quality products and services at competitive prices.
We have done a detailed market analysis and prepared a report on vision care market. The report provides valuable insights on top players, their market share, competitive landscape, growth strategies, marketing strategies, revenue generation abilities, product pricing by product, and revenue by products, among others.
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Top Players in Global Vision Care Market
- ESSILORLUXOTTICA (France)
- Bausch Health (Canada)
- The Cooper Companies Inc (US)
- NOVARTIS AG (Switzerland)
- Cadila Healthcare (India)
- Johnson & Johnson Services Inc. (US)
- Rayner Surgical Group Limited (UK)
- Menicon (Japan)
- Carl-Zeiss-Stiftung (Germany)
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