Report : Europe Vision Care Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by (Eyeglasses, Contact Lens, Intraocular Lens, and Others) and Distribution Channel (Retail Stores, E-Commerce, Clinics, and Hospitals)
At 4.7% CAGR, the Europe Vision Care Market is speculated to be worth US$ 31,199.09 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe vision care market was valued at US$ 23,743.83 million in 2022 and is expected to reach US$ 31,199.09 million by 2028, registering a CAGR of 4.7% from 2022 to 2028. Increasing prevalence of eye diseases and progress of innovative products are the critical factors attributed to the Europe vision care market expansion.
In recent years, various measures and efforts have been taken to create awareness and educate people regarding eye diseases, prompting patients to access suitable medications and treatments for such conditions. Write the Vision offers monthly resources to a large number of organizations, allowing them to promote healthy vision, and prevent vision loss and blindness in the communities they serve. Hence, the Write the Vision program was launched to increase awareness about eye health.
Sightsavers—an international nongovernmental organization—works in developing countries to treat and prevent eye diseases. In addition, the WHO launched the Universal Health Coverage and Eye Care: Promoting Country Action, an event to provide practical, step-by-step, guidance to support Member States of WHO in planning and implementing the recommendations of the WHO’s World report on vision. The WHO launched this event with the goal to provide integrated people-centered eye care services. Thus, the rising number of such eye health awareness programs is creating growth opportunities for the vision care market. This is expected to drive the Europe vision care market during the forecast period.
On the contrary, adverse effects of contact lens on eye condition hurdles the growth of Europe vision care market.
Based on type, the Europe vision care market is categorized into eyeglasses, contact lens, intraocular lens, and others. The eyeglasses segment held 53.0% market share in 2022, amassing US$ 12,581.84 million. It is projected to garner US$ 17,045.21 million by 2028 to expand at 5.2% CAGR during 2022–2028.
Based on distribution channel, the Europe vision care market is categorized into retail stores, e-commerce, clinics, and hospitals. The retail stores segment held 45.6% market share in 2022, amassing US$ 10,834.16 million. It is projected to garner US$ 14,436.03 million by 2028 to expand at 4.9% CAGR during 2022–2028.
Based on country, the Europe vision care market has been categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Our regional analysis states that the UK captured 21.0% share of Europe vision care market in 2022. It was assessed at US$ 4,976.37 million in 2022 and is likely to hit US$ 6,790.26 million by 2028, exhibiting a CAGR of 5.3% during the forecast period.
Key players dominating the Europe vision care market are Alcon Inc.; Bausch Health Companies Inc.; Carl Zeiss AG; Cooper Companies Inc; Essilor International SAS; Johnson & Johnson; Hoya Corp; Rodenstock GMBH; Menicon Co., Ltd; and Rayner Intraocular Lenses Limited among others.
- In June 2022, CooperVision Acquires EnsEyes to Accelerate Nordic Region Specialty Contact Lens Growth.
- In Feb 2021, Johnson & Johnson Vision received FDA Approval for Tecnis Eyhance And Tecnis Eyhance Toric Ii Iols.
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