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North America Vision Care Market – Insights

Vision care deals with preventing or minimizing the threat to eyes or visual integrity. North America vision care market provides a comprehensive analysis of the various aspects such as market size and market overview of segments such as Rx lenses, frames, non Rx sunglasses, contact lenses, readers, and contact lens solutions.

Statistics:        

North America vision care market is estimated to account for US$ 110,648.3 Mn in terms of value by the end of 2027.

North America Vision Care Market: Drivers

Increasing prevalence of cataract is expected to propel growth of North America vision care market over the forecast period. For instance, according to National Eye Institute’s projections, the number of people in the U.S. with cataract is expected to reach 50 million in 2050.

Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the U.S. Census Bureau, geriatric population in the U.S. is expected to reach 77 million by 2035.

U.S. held dominant position in North America vision care market in 2019, accounting for 88.7% share in terms of volume, followed by Canada.

Figure 1. North America Vision Care Market Share (%), by Region, 2019

North America Vision Care  | Coherent Market Insights

North America Vision Care Market: Restraints

Business practice restrictions and unfavorable insurance scenario is expected to hamper growth of the market. Employment restrictions prohibit unlicensed persons and firms from hiring optometrists. Moreover, branch office restrictions prevent optometrists from expanding their practices by opening new offices. Vision insurance is also not fully covered (adults) under the Affordable Care Act (ACA).  However, pediatric vision care beyond vision screening is covered under the ACA.

Moreover, growing adoption of e-commerce industry is expected to hinder growth of independent optometry business in the market, thereby hindering growth of the market to some extent.

North America Vision Care Market: Opportunities 

Increasing the number of people under health insurance coverage is expected to offer lucrative growth opportunities for players in the market.

Moreover, in the U.S., rural populations and low-income groups are at higher risk for vision impairments compared to those living in urban areas. Therefore, market players can focus on expanding their geographical presence to enhance their market share.

North America Vision Care  | Coherent Market Insights

Rx-Lenses segment in North America vision care market was valued at US$ 23,914.0 Mn in 2019 and is expected to reach US$ 52,170.0 Mn by 2027 at a CAGR of XX% during the forecast period.

Market Trends/Key Takeaways

Increasing popularity of vision care on social media platforms through reviews is propelling growth of the market. Consumers share experiences regarding vision care products on various social media platforms such as Pintrest, Facebook, Youtube, Instagram, and SnapChat.

Players in the market are focused on adopting partnership strategies to enhance their market share. For instance, in February 2020, Midwest Vision Partners partnered with Rosenbaum Eye & Laser Center and its vision correction center, Michigan Laser Eye Associates to offer medical and surgical eye care services.

North America Vision Care  | Coherent Market Insights

North America Vision Care  | Coherent Market Insights

North America Vision Care Market: Competitive Landscape

Major players operating in North America vision care market include, Novartis AG, CooperVision, Inc., Johnson and Johnson Vision Care Inc., Valeant Pharmaceuticals International, Inc., SynergEyes, Inc., ZEISS International, Essilor International, and Luxottica.

North America Vision Care Market: Key Developments

Major players in the market are focused on product approval and launch to expand their product portfolio. For instance, in November 2019, CooperVision received U.S. Food and Drug Administration (FDA) approval for its MiSight 1 day contact lens that is indicated to slow the progression of myopia in children 8-12 years old.

Players in the market are also focused on launching smart contact lens to expand their product portfolio. For instance, in January 2020, Mojo Vision announced that it is developing the Mojo Lens, the world’s first true smart contact lens.

Vision care refers to the prevention and treatment of various eye conditions such as, weak eye sight. There are various vision care product used for restoration of eye sights, these products constitute of Rx-Lenses, frames, contact lenses, non Rx-Sunglasses, reading glasses, and contact Lenses Solutions. Increasing prevalence of cataract is expected to propel growth of North America vision care market over the forecast period. Moreover, increasing adoption of contact lenses among children is also expected to boost growth of North America vision care market over the forecast period.

Key features of the study:

  • This report provides in-depth analysis of the North America Vision Care market and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2019–2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the North America Vision Care market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include Novartis AG, CooperVision, Inc., Johnson and Johnson Vision Care Inc., Valeant Pharmaceuticals International, Inc., SynergEyes, Inc., ZEISS International, Essilor International, and Luxottica.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The North America Vision Care market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the North America Vision Care market

Detailed Segmentation:

  • North America Vision Care Market, By Product Type:
    • Rx-Lenses
    • Frames
    • Contact Lenses
    • Non Rx-Sunglasses
    • Reading Glasses
    • Contact Lenses Solutions
  • North America Vision Care Market, By Distribution Channel:
    • Retail Stores
    • E-Commerce
    • Clinics
    • Hospitals
  • North America Vision Care Market, By Country:
    • U.S.
      • By Product Type
        • Rx-Lenses
        • Frames
        • Contact Lenses
        • Non Rx-Sunglasses
        • Reading Glasses
        • Contact Lenses Solutions
      • By Distribution Channel
        • Retail Stores
        • E-Commerce
        • Clinics
        • Hospitals
    • Canada
      • By Product Type
        • Rx-Lenses
        • Frames
        • Contact Lenses
        • Non Rx-Sunglasses
        • Reading Glasses
        • Contact Lenses Solutions
      • By Distribution Channel
        • Retail Stores
        • E-Commerce
        • Clinics
        • Hospitals
  • Company Profiles
    • Novartis AG *
      • Company Overview
      • Material Portfolio
      • Financial Performance
      • Key Highlights
      • Market Strategies
    • CooperVision, Inc.
    • Johnson and Johnson Vision Care Inc.
    • Valeant Pharmaceuticals International, Inc.
    • SynergEyes, Inc.
    • ZEISS International
    • Essilor International
    • Luxottica

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Distribution Channel
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
        • Drivers
        • Restraints
        • Market Opportunities
      • Impact Analysis
      • Market Trends
      • Key Developments
      • Regulatory Scenario
      • Reimbursement Scenario
      • Merger and Acquisition Scenario
      • PEST Analysis
  4. North America Vision Care Market, By Product Type, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Rx-Lenses
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Frames
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Contact Lenses
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Non Rx-Sunglasses
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Reading Glasses
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Contact Lenses Solutions
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  5. North America Vision Care Market, By Distribution Channel, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Retail Stores
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • E-Commerce
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Clinics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. North America Vision Care Market, By Country, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • U.S.
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Distribution Channel, 2016 – 2027, (US$ Million)
    • Canada
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Million)
      • Market Size and Forecast, By Distribution Channel, 2016 – 2027, (US$ Million)
  7. Competitive Landscape
    • Company Profiles
      • Novartis AG *
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • CooperVision, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Johnson and Johnson Vision Care Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Valeant Pharmaceuticals International, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • SynergEyes, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • ZEISS International
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Essilor International
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Luxottica
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
  8. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

*Browse 20 market data tables and 16 figures on "Vision Care Market” – North America forecast to 2027.

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