How Is The Vision Care Devices And Equipment Market Segmented?
The vision care devices and equipment market covered in this report is segmented –
1) By Type: Intraocular Lens, Ophthalmic Lasers, Glaucoma Drainage Devices, Contact Lenses, Other Types
2) By Aplication: Vision Care, Diagnosis, Surgery
3) By End User: Hospitals, Ambulatory Surgery Centers, Optical Centers, Other End Users
Subsegments:
1) By Intraocular Lens (IOL): Monofocal IOLs, Multifocal IOLs, Toric IOLs, Accommodating IOLs, Phakic IOLs
2) By Ophthalmic Lasers: Excimer Lasers, Femtosecond Lasers, YAG Lasers, Diode Lasers, Argon Lasers
3) By Glaucoma Drainage Devices: Shunt Implants, Tube Drainage Implants, Cyclodestructive Procedures, Valved Drainage Devices
4) By Contact Lenses: Soft Contact Lenses, Rigid Gas Permeable Lenses, Toric Lenses, Scleral Lenses, Hybrid Contact Lenses
5) By Other Types: Retinal Implant Devices, Corneal Implants, Vision Correction Devices, Eye Examination Equipment
What Is Driving The Vision Care Devices And Equipment Market? Electronic Device Dependency Is Fueling The Surge In Vision Care Devices And Equipment Market
The rising use of electronic devices is a continuous driver for the growth of the vision care devices and equipment market. Usage of laptops, mobiles, PCs, and other electronic devices has increased in day-to-day life, which is the major factor responsible for eye-related problems. According to a survey by Deloitte, Americans collectively check their phones over 8 billion times per day. On average, every person spends about five hours daily browsing the internet and using apps.
What Is Driving The Vision Care Devices And Equipment Market? Vision Care Devices And Equipment Market Surges In Response To Escalating Prevalence Of Eye Disorders
The increasing prevalence of eye disorders is expected to boost the growth of the vision care devices and equipment market going forward. An eye disorder, also known as an ocular disorder or eye condition, refers to any medical condition or abnormality that affects the structure or functioning of the eye, leading to visual impairment or discomfort. As more people are affected by eye disorders, there is a growing demand for vision care products and services, including eyeglasses, contact lenses, and surgical interventions. This increased demand drives the market for these devices and equipment. For instance, in August 2023, according to the report published by the World Health Organization (WHO), a Sweden-based intergovernmental organization, At least 2.2 billion people worldwide suffer from near- or distance vision impairment. At least 1 billion of these cases, or close to half, entailed vision loss that could have been prevented or is still present. The leading causes of distance vision impairment or blindness among these 1 billion people are cataracts (94 million cases), refractive error (88.4 million cases), age-related macular degeneration (8 million cases), glaucoma (7.7 million cases), and diabetic retinopathy (3.9 million cases). Presbyopia (826 million people) is the predominant condition causing problems with close vision. Therefore, the increasing prevalence of eye disorders is driving the growth of the vision care devices and equipment market.
Who Are The Major Players In The Global Vision Care Devices And Equipment Market?
Major companies operating in the vision care devices and equipment market include Essilor International, Johnson & Johnson, Carl Zeiss AG, The Cooper Companies, Novartis AG, Bausch & Lomb, Nidek Co.Ltd., Valeant Pharmaceuticals International Inc., Luxottica Group SpA, Escalon Services, Tomey Corporation, CIBA Vision Corporation, Visionix Ltd., Potec, LuxVisions Innovation Limited, Heine Optotechnik, Luneau Technology Operations SAS, Heidelberg Engineering Inc., Huvitz Technologies, STAAR Surgical Company, Swiss Advanced Vision, Visioneering Technologies Inc., Rayner Intraocular Lenses Limited, Jiangsu Hongchen Optical Co. Ltd., Alcon, Hoya Corporation, Topcon Corporation, Carl Zeiss Meditec AG, Lumenis Ltd., Ellex Medical Pty Ltd., Abbott Medical Optics, Canon Medical Systems, Haag-Streit AG, Optovue Inc., Quantel Medical SAS, VisionCare Devices LLC, Med-Logics Inc., Advanced Vision Science Inc., Eyenovia Inc., HumanOptics Holding AG, Clearside Biomedical Inc.
What Are The Key Trends Of The Global Vision Care Devices And Equipment Market? Innovative Myopia Management Lenses Are Transforming Vision Care And Eye Health
Major companies operating in the vision care devices and equipment market are developing new products such as myopia management lenses to meet larger customer bases, more sales, and increase revenue. Myopia management lenses, refer to specialized corrective eyeglasses or contact lenses designed to slow down the progression of myopia (nearsightedness) in individuals, particularly in children and adolescents. For instance, in April 2023, HOYA Vision Care, a Thailand-based manufacturer of eyeglass lenses, launched, MiYOSMART Sun Spectacle Lenses, combining myopia control and protection from strong sunlight. The technology utilized in these non-invasive MiYOSMART clear spectacle lenses, a unique feature of this product, has been found to decrease the growth of myopia in children aged 8 to 13 by 60%. The photochromic and polarized spectacle lenses MiYOSMART Chameleon and MiYOSMART Sunbird were developed to stop the growth of myopia in youngsters utilizing Defocus Incorporated Multiple Segments (DIMS).
What Is The Regional Outlook For The Global Vision Care Devices And Equipment Market?
North America was the largest region in global vision care devices and equipment market in 2024. Asia-Pacific was the second-largest region in the vision care devices and equipment market share. The regions covered in the vision care devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the vision care devices and equipment market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
What Defines the Vision Care Devices And Equipment Market?
The vision care devices and equipment market consist of sales of equipment such as vitrector, Phoropter, VT 1 vision screener, contact lenses and spectacles and others that are used for proper diagnosis and treating vision of an eye. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
How is Market Value Defined and Measured?
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
What is the Market Assessment and Strategic Outlook for the Vision Care Devices And Equipment Industry?
The vision care devices and equipment market research report is one of a series of new reports from The Business Research Company that provides vision care devices and equipment market statistics, including vision care devices and equipment industry global market size, regional shares, competitors with vision care devices and equipment market share, detailed vision care devices and equipment market segments, market trends, and opportunities, and any further data you may need to thrive in the vision care devices and equipment industry. This vision care devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
