Published Date : Aug 08, 2016
ALBANY, NY, Aug 08, 2016: MarketResearchReports.biz has announced the addition of a new report, titled “Global Vision Care Market 2016-2020,” to its repository. The report provides an in-depth reports of the current state of the global vision care product market along with the historical developments that have occurred in the field and the market’s growth prospects for the future.
According to the study, the global vision care product market is expected to expand at a CAGR of 4% between 2016 and 2020. The study provides a complete overview of the trends, drivers, restraints, challenges, and opportunities in the global vision care product market. The market’s segmentation has been provided on regional basis and the each region’s market has been analyzed keeping in mind the competitive market scenario. The report takes into account the revenue generated from the sale of various types of vision care merchandise to compute the market size.
The rising exposure to electronic gadgets has increased vision problems among people of varied age groups. The reasons behind the now-common severe and moderate visual impairment are uncorrected refractive errors in the human eye, whereas non-refractive errors such as cataracts and pink eye are the major causes of the increase in blindness in low- and middle-income countries. To control the threat of visual impairment, several governments around the world have initiated awareness programs and national regulations and policies regarding vision care.
The report outlines the various drivers that are likely to boost the sales of visual care products, such as the increase in brand-consciousness among consumers and patients. It states that the challenges that manufacturers are likely to face during the production of vision care products are likely to only have a relatively minor impact on the sale of branded products.
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According to the report, the Americas are expected to emerge dominant in the global vision care product market and are estimated to reach a valuation of US$24 bn by the end of 2020. Owing to the rising demand for disposable contact lenses and mounting cases of cataracts, glaucoma, and diabetic retinopathy, the market for vision care products in the Americas is expected to witness steady growth in the upcoming years.
The report analyzes the competitive landscape of the global vision care product market and outlines the leading players in the market. The report also provides details about the international as well as the regional vendors of vision care products. It states that due to the high competitive rivalry in terms of product price, quality, fiscal resources, and market reach, regional players are likely to face difficulty in competing with the international players. According to the report, the competition within the market is expected to intensify as a result of innovations in products and packaging, mergers and acquisitions, and service allowances. The key vendors in the global market for visual care products are Essilor, Cooper, Luxottica, Johnson & Johnson, Novartis, and Valeant Pharmaceuticals.
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