North America Vision Care Market: Key Players, Applications, Demand, SWOT Analysis and Forecast by the end of 2026
The North America Vision Care Market Demand is expected to register a CAGR of 9.8% during the forecast period and is expected to be valued at USD 100.72 Billion by the end of 2026. In this report, Future Market Insights analyzes factors and trends having a impact on northern growth and performance. US eye care market.
According to analysts at Future Market Insights, factors such as increasing prevalence of eye diseases leading to eye surgery procedures, growing geriatric population, and introduction of new advanced eye care products are major factors that are expected to fuel North American vision revenue growth. healthcare market over the forecast period. Economic factors such as growing healthcare expenditure, increasing per capita disposable income, increasing government support in developed economies and favorable reimbursement policies are also expected to drive the growth of the eye care market in North America during the forecast period.
However, increasing cost of eye surgery and treatment and a risk of infection and vision loss may hamper the growth of the North America eye care market during the forecast period.
Sales of vision care services have remained fairly healthy in the US market in recent years, making North America the most lucrative market in the world. North America vision care market revenue was US$37.1 billion in 2015, with the United States accounting for the majority of the revenue share.
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The North American vision care market can be broadly categorized into six product segments – Rx lenses, frames, non-Rx sunglasses, contact lenses, readers and contact lens solutions – each with different applications.
- By product, Rx lenses accounted for a higher revenue share in North America compared to other product segments
- The Frames product type segment accounted for the second largest revenue share, followed by the contact lens product segment in 2015. The contact lens segment is expected to register the highest CAGR of 12.4% during the forecast period.
- By distribution channel, the retail segment accounted for a higher revenue share in the North America vision care market compared to other distribution channels
- The retail segment is expected to reach a market valuation of US$60.6 billion by 2026, reflecting a CAGR of 9.8% over the forecast period
- The e-commerce segment is also growing at a higher rate in the overall North America eye care market. This segment is expected to reach $18.9 billion by the end of 2026, registering a CAGR of 3.8% over the forecast period
Major players in the North American eye care market are Johnson & Johnson Vision Care Inc., Valeant Pharmaceuticals International Inc., Novartis AG, The Cooper Companies Inc., SynergEyes Inc., Luxottica, Essilor International, and ZEISS International. The major players in the market are adopting different strategies such as partnerships and acquisitions to maintain and grow their market share. Most recently, in January 2016, Valeant Pharmaceuticals expanded its specialty lens business with the addition of Alden Optical Laboratories Inc. In 2016, Essilor International strengthened its expansion into independent eyecare professionals in the United States with the acquisition from VisionSource.
By product type:
- Contact lenses
- Non Rx Sunglasses
- Reading glasses
- Contact lens solutions
By distribution channel:
- Retail stores
Main Related Reports Overview of the healthcare market
About Future Market Insights (IMF)
Future Market Outlook (ESOMAR-certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.
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