Upgradation of existing healthcare infrastructure and increasing awareness regarding eye care to drive Asia Pacific eye care market
According to TechSci Research report, “Asia Pacific Eye Care Market By Product Type (Eyeglasses, Contact Lens, Intraocular Lens, Eye Drops, Others), By Coating (Anti-Glare, Anti-Reflecting, Others), By Lens Material (Normal Glass, Polycarbonate, Trivex, Others), By End User (Hospitals, Specialty Clinics, Others), By Country, Forecast & Opportunities, 2025”, the market is expected to undergo steady growth during the forecast period owing to increasing awareness towards eye health and governments’ focus to improve the health infrastructure. Developing nations such as India and China are in a stage of rapid urbanization, which has led to upgradation of healthcare infrastructure, resulting in growth of eye care industry. Apart from this, various healthcare organizations and NGOs are working towards creating awareness about eye health, which is providing a major support to eye care market in region.
Moreover, growing prevalence of various eye problems and diseases such as glaucoma, amblyopia and strabismus are propelling the growth of Asia Pacific eye care market. Increasing geriatric population, which is more prone to eye problems such as cataract is a major factor fueling the market for eye care products. Vision related disorders including myopia and hypermetropia among younger population is another factor for the growing demand for eye care products. Growing proliferation of electronic devices might have negative effect on the eyes, which is positively influencing the Asia Pacific eye care market.
However, Asia Pacific eye care market also faces certain restraints such as rising treatment costs. Adding to this, lack of awareness about eye care in rural areas and side effects related to the usage of certain eye care products are hampering the growth of eye care market in the region.
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The Asia Pacific eye care market is segmented based on product type, coating, lens material, distribution channel and country. Based on product type, the market can be segmented into eyeglasses, contact lens, intraocular lens, eye drops and others. Among them, the eyeglasses segment accounted for the largest market share in 2019 and is expected to undergo the fastest growth through 2025 owing to the ease of availability and affordability of these products.
Based on distribution channel, the market is segmented into retail stores, e-commerce, clinics and hospitals. Retail stores segment witnessed highest growth in 2019. However, the e-commerce segment is poised to undergo at the fastest rate during the forecast period as they are offering variety of eye care products to choose from with relatively lower price in comparison to other stores. The market has witnessed entry of several online channels who are also introducing online testing where one can check the status of their eyes and take professional advice.
Major players operating in the Asia Pacific eye care market include Luxottica India Eyewear Pvt Ltd, GKB Rx Lens Pvt. Ltd., Essilor India Private Limited, Carl Zeiss, Bausch & Lomb, Essilor, CooperVision, Titan Industries Ltd., Auro Laboratories Ltd. and Johnson & Johnson Private Limited. The companies are extensively investing on research & development activities to launch new products into the market.
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“Asia Pacific is considered to be an emerging and lucrative market for eye care industry as the region is witnessing spike in number of people suffering from various eye and vision related problems. Technological advancement and growing number of smartphone users have further contributed to surge in demand for eye care products. Keeping in mind the high demand, manufacturers are coming up with new generation eye care products, featuring innovative materials” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Asia Pacific Eye Care Market By Product Type (Eyeglasses, Contact Lens, Intraocular Lens, Eye Drops, Others), By Coating (Anti-Glare, Anti reflecting, Others), By Lens Material (Normal Glass, Polycarbonate, Trivex, Others), By End User (Hospitals, Specialty Clinics, Others), By Country, Forecast & Opportunities, 2025”has evaluated the future growth potential of Asia Pacific eye care market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Asia Pacific eye care market.
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