The Europe vision care market is expected to grow from US$ 23,743.83 million in 2022 to US$ 31,199.09 million by 2028; it is estimated to grow at a CAGR of 4.7% from 2022 to 2028.
Rising Funds for Eye Care Research
Extensive ongoing research across the Europe to identify new treatments for eye diseases is likely to favor the vision care market growth in the coming years. The institute also funds trials to develop cutting-edge therapies for blinding diseases. In 2017, the NEI launched a 3D Retina Organoid Challenge Competition (3D-ROC) to develop functioning mini-retinas from human stem cells. It announced the prize money of US$ 1.1 million to the team with the best replication of retina structure and function.
The Karolinska Institutet, Sweden, offers grants to promote research on eye diseases. In 2020, the institute announced SEK 50,000–150,000 (US$ 5,912.88–17,738.64) per person funding for new research projects on eye diseases. These funds will be used to provide maximum flexibility in developing and expanding eye research programs and fostering creative planning beyond the scope of restricted project grants. Thus, increasing funds for eyecare research are likely to bring new trends in the vision care market to trigger its growth.
Europe Vision care Market Overview
The European vision care market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. The region holds a significant market share in the vision care market. The European vision care market is expected to witness significant growth during the forecast period due to factors such as the significant growth in elderly population, growing prevalence of eye disease and diabetes, launch of innovative products by market players in the region.
Europe Vision care Market Revenue and Forecast to 2028 (US$ Million)
Europe Vision care Market Segmentation
The Europe vision care market is segmented based on type, distribution channel, and country. Based on type, the Europe vision care market is segmented into eyeglasses, contact lens, intraocular lens, and others. The eyeglasses segment held the largest market share in 2022.
Based on distribution channel, the Europe vision care market is segmented into retail stores, e-commerce, clinics, and hospitals. The retail stores segment held the largest market share in 2022.
Based on country, the Europe vision care market is segmented into Germany, the UK, Spain, Italy, France, and the Rest of Europe. Germany dominated the Europe vision care market share in 2022.
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 are the leading companies operating in the Europe vision care market.
Europe Vision Care Market Strategic Insights
Europe Vision CareMarket Report Highlights
| Report Attribute | Details |
| Market size in 2022 | US$ 23,743.83 Million |
| Market Size by 2028 | US$ 31,199.09 Million |
| CAGR (2022 - 2028) | 4.7% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
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Regions and Countries Covered
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| Europe | UK, Germany, France, Russia, Italy, Rest of Europe |
| Market leaders and key company profiles |
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Europe Vision Care Market Country and Regional Insights
