The Vision Care market was valued at US$ 66,934.51 million in 2019 and is projected to reach US$ 93,817.82 million by 2027; it is expected to grow at a CAGR of 4.5% during 2020–2027. The growth of the market is mainly attributed to factors such Growing prevalence of eye diseases and rising funds for eye care research are driving the growth of the vision care market. However, the disadvantages associated with contact lens can impede the market growth. Further, the increasing awareness about vision care offer significant opportunities for the growth of the global vision care market.
Extensive eye diseases research across the world to identify new treatments for the eye diseases is likely to favor the market growth.For instance, India-US Collaborative Vision Research Program 2020, would advance science and technology, which is important to understand, prevent, and treat blinding eye diseases, visual disorders, and their associated complications.
Both the Indian Department of Biotechnology and the US National Eye Institute (NEI) would fund the research program. The National Eye Institute (NEI) supports vision research through around 1,500 research grants and training awards made to researchers at over 250 medical centers, hospitals, and universities across 44 states in the US and around the world.The institute also funds trials to develop cutting edge therapies for blinding diseases.
In 2017, NEI launched a 3D Retina Organoid Challenge Competition (3D-ROC) to develop functioning mini-retinas from human stem cells. The US$ 1.1 million prize would be distributed to team with the best replication of retina structure and function.
Similarly, the Karolinska Institutet, Sweden, offers grants to promote research on eye diseases. In 2020, the institute announced SEK 50,000–150,000 (US$ 5912.88–17738.64) per person funding for new research projects on eye diseases. Thus, such increasing funds for eye care research are likely to enhance the growth of the market.
Based on product type, the global vision care market is segmented into eye glasses, contact lens, intraocular lens, and others.The eye glasses segment held a larger share of the market in 2019 and is expected to grow at a higher CAGR during the forecast period.
Based on distribution channel, the global vision care market is segmented into retail stores, e-commerce, clinics, and hospitals. The retail stores segment held a larger share of the market in 2019, and it is further expected to report a higher CAGR in the market during the forecast period.
The Food Safety and Inspection Service, Food and Drug Administration, National Institute of Health, and European Medical Association are a few of the major secondary sources referred to while preparing this report.
Our reports have been used by over 10K customers, including:
The nitinol medical devices market was valued at US$ 15,807.53 million in 2020 and is projected to reach US$ 27,327.25 million by 2028; it is expected to grow at a CAGR of 7.08% during 2020-2028. The growth of the market is mainly attributed to the factors such as the increasing adoption of minimally invasive surgeries (MIS) and growing prevalence...
The disposable medical device sensors market is projected to reach USD 9.4 billion by 2026 from USD 6.5 billion in 2021, at a CAGR of 7.7% during the forecast period. Market growth is largely driven by rising concerns over hospital-acquired infections and contamination, the increasing incidence of target conditions, the growing demand for...
The medical cameras market is projected to reach USD 4.1 billion by 2026 from USD 2.9 billion in 2021, at a CAGR of 7.3% during the forecast period. Market growth is largely driven by the increasing number of surgical procedures, growing demand for endoscopic procedures, technological advancements, and increasing investments in endoscopy and...
The pen needles market is expected to reach USD 2.2 Billion by 2026 from an estimated USD 1.3 Billion in 2021, at a CAGR of 11.2%. Growth in the market is largely driven by the growing prevalence of chronic diseases and the favorable reimbursement scenario in selected countries. On the other hand, the preference for alternative modes of drug...
Norway - Healthcare, Regulatory and Reimbursement Landscape
The analyst has released its latest report, "Norway - Healthcare, Regulatory and Reimbursement Landscape".The report is an essential source of information on analysis of healthcare, regulatory, and reimbursement landscape in Norway.
- Increase your foothold in the Chinese market TODAY - Establish partnerships to manufacture, distribute or develop Chinese products - Scope out the market prior to entry The China medical devices Market section gives a detailed market overview, qualitative analysis of the factors responsible for driving and restraining...
The Asia Pacific medical devices market is anticipated to reach US$ 146,161.68 million by 2027 from US$ 82,801.96 million in 2019. The market is projected to grow at a CAGR of 7.4% from 2020 to 2027. The medical devices market in Asia Pacific is growing primarily due to the growing medical device industry.Challenges in medical device industry...
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Medical Device Contract Manufacturing Market Report
The global medical devices contract manufacturing market by revenue is expected to grow at a CAGR of over 10% during the period 2020–2026.
The global market is experiencing impressive...
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Antimicrobial Medical Device Market Report
The global antimicrobial medical device coatings market by revenue is expected to grow at a CAGR of over 7% during the period 2021–2026.
The antimicrobial medical device coatings market constitutes...
The global embolotherapy market is valued at USD 3.4 billion in 2021 and is expected to reach USD 5.0 billion by 2026, at a CAGR of 8.0% during the forecast period. The growth of this market is primarily driven by the rising burden of target diseases and increasing investments, funds, and grants for the development of novel products. Moreover,...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.