The global “Vision Care Market” is expected to reach USD 192.85 billion by 2026, exhibiting a CAGR of 5.6% during the forecast period. Increasing awareness regarding ocular diseases in emerging nations is expected to aid the growth of the market. The increasing adoption of vision care products will boost the vision care market growth in the forthcoming year. In addition, the growing cases of cataracts to create growth opportunities for the market. For instance, according to the World Health Organization, 51% of the world’s blindness is caused due to cataracts. In addition, the increasing risks of cataract incidence predominantly in developing as well as developed countries will fuel demand for vision care.
As per the report, published by Fortune Business Insights in a report, titled “Vision Care Market Size, Share Industry Analysis, By Product Type (Eyewear, Intraocular Lens, and Ocular Health), By Distribution Channel (Retail Store, Online Store, Hospital Clinics), and Regional Forecast, 2019-2026” the market size stood at USD 125.16 billion in 2018. The report offers dynamic insights on all the prevailing trends and characteristics of the vision care market. It provides an all-encompassing summary and analytical data of all the segments. It is created after extensive research followed by deep analysis to benefit companies, stakeholders, financers and potential investors. It is designed with an aim to provide a clear picture of the market size. In addition, it also includes the latest advances and development, product launches, acquisitions, collaborations partnerships, and others.
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Major Vision Care Market Key players covered in the report include:
- Alcon (Part of Novartis AG)
- Johnson Johnson Services, Inc.
- Bausch Health Companies Inc.
- Carl Zeiss
- Other Prominent Players
Vision Care Market Analysis 2021:
Increasing Cases of Cataract to Promote Healthy Growth
The increasing incidence of cataracts around the world will subsequently aid the growth of the market in the forthcoming period. According to the Global Burden of Diseases Study, 2010 cataract caused worldwide 33.4% of all blindness in 2010 and around 10.8 million people were blind and 35.1 million were visually impaired due to cataract. With the growing risk of cataracts, the demand for vision is increasing, which therefore supports market growth. The growing population of individuals suffering from ocular diseases is expected to be one of the key reasons for driving the market.