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Published Date: 2017-09-14Number of Pages: 182

Optometry Market (Type - Therapeutics (Anti-inflammatory Drugs (Steroids and NSAIDS), Anti-fungal Drugs, Anti-infective Drugs, and Anti-allergic Drugs) and Vision Care Equipment (Eye Glasses and Contact Lenses (Soft Contact Lenses, Rigid Gas Permeable Lenses, and Extended Wear Contact Lenses); Distribution Channel - Hospital Pharmacies, Optometry Clinics, Online and Retail Stores, and Optical Centers) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Global Optometry Market: Snapshot

At present, the global optometry market is fragmented in nature on account of the presence of numerous players. To retain and grow their market shares in such a fragmented landscape, most players are seen competing with one another on the basis of better therapies and treatments. Some of the dominant players in the market have established a solid stronghold with their extensive geographical outreach and a diverse product portfolio.

Serving to stoke growth in the global optometry market is the ever-increasing elderly population who are highly susceptible to visual problems and rising instances of eye ailments on account of chronic health conditions such as diabetes. As a result, eye diseases, namely diabetic retinopathy, age-related macular degeneration, cataracts, and glaucoma are increasing by the day. Besides, the surging popularity of eye wear fashion and rising disposable incomes of people have also proved beneficial to the global optometry market.

A report by Transparency Market Research projects the global optometry market to rise at a lackluster CAGR of 4.1% from 2017 to 2025 to become worth US$79.871 bn by 2025 from US$55.974 bn in 2016.

Global Optometry Market

Contact Lenses to See Increased Uptake due to their Ability to Treat Refractive Errors

Depending upon the type of products, the global optometry market can be broadly split into vision care equipment and therapeutics. The therapeutics segment again can be further divided into anti-inflammatory drugs, anti-fungal drugs, anti-infective drugs, anti-infective drugs, anti-infective drugs, and anti-allergy drugs. Of them, the anti-inflammatory drugs contributed the most to revenue – almost 32.5% in 2016.

The segment of vision care equipment in the optometry market can also be divided further into eye glasses and contact lenses. The eye glasses segment, among them, is projected to rake in higher revenue in the years to come. However, contact lenses too are expected to clock healthy growth in the near future on account of the rising awareness about the various types of contact lenses available in the market and their use in treating refractive errors.

Superior Healthcare Infrastructure Catapults North America Market to Forefront

From a geographical standpoint, North America held maximum share of 36.5% in the global optometry market in 2016. Europe trailed North America vis-à-vis market share in 2016. The dominant positions of the two regions is attributed to their developed economies and advanced healthcare infrastructures. Further, the high degree of awareness among the people in the region pertaining to the various treatments available for eye diseases is also serving to drive their markets. Currently, the vision care segment of the optometry market contributes the most to the revenue in the two regions.

The optometry market in North America is primarily being driven by the U.S., whereas the market in Europe is being powered mainly by Germany. In terms of growth rate, on the other hand, Asia Pacific is slated to outshine all other regions by clocking a CAGR of 5.1% from 2017 to 2025. The market in the region is being propelled by its burgeoning population, mushrooming healthcare facilities, and rising knowledge about eye ailments. The markets in Latin America and the Middle East and Africa too are expected to witness impressive growth in the next couple of years on the back of increasing initiatives by the governments in the region to overhaul the healthcare industry.

Some of the prominent participants in the global optometry market are CooperVision, Johnson & Johnson Vision Care, Inc., Novartis AG, Pfizer, Inc., Valeant Pharmaceuticals International, Inc., Allergan, and Essilor.

Global Optometry Market: Scope and Methodology

This report on the global optometry market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments.

The research is a combination of primary and secondary research. Primary research formed the bulk of our research efforts along with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment and sub-segment for the period from 2017 to 2025, considering the macro and micro environmental factors. Growth rates for each segment within the global optometry market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.

A detailed qualitative analysis of factors responsible for driving and restraining market growth and future opportunities has been provided in the market overview section. This section of the report also includes market attractiveness analysis that provides a thorough analysis of the overall competitive scenario in the global optometry market.

Market revenue in terms of US$ Mn for the period between 2015 and 2025 along with the compound annual growth rate (CAGR %) from 2017 to 2025 are provided for all the segments, considering 2016 as the base year. Market size estimations involved in-depth study of various segments of global optometry market.

Optometry Market: Segmentation

Optometry is a part of health care sector which deals with measurement of vision or eye sight. Optometrist are healthcare professionals that are licensed and registered to prescribe therapeutics and corrective lenses for faulty vision or eye sight. Globally around 285 million people are visually impaired. These visual impairments can be corrected with proper usage of corrective lenses or an ophthalmology procedure. The optometry market has a huge scope during the forecast period. The global optometry market can be segmented based on product type, distribution channel and region.

Depending on the product type the global optometry market includes therapeutics and vision care equipment. The therapeutics segment consists of anti-inflammatory drugs, anti-fungal drugs, anti-infective drugs, anti-allergy drugs and others. The vision care equipment segment includes eye glasses and contact lenses. Vision care equipment is projected to be a highly attractive segment of the global optometry market during the forecast period. The segment is anticipated to be expand at a CAGR of 4.4% during the forecast period. Eye glasses segment contributes maximum share to the global optometry market in terms of revenue. Increasing importance for fashion accessories is significantly supporting growth of the global optometry market. As eyewear is one of the most accessible and visible accessories with an affordable price, the optometry market is expected to witness significant growth during the forecast period. Based on the distribution channel, the global optometry market is segmented into hospital pharmacies, optometry clinics, optical centers, online and retail stores and others. Optometry clinics is attributed to contribute a significant share to the global optometry market.

Optometry Market: Geographical and Competitive Dynamics

Geographically, the global optometry market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, the regions have been further segmented by major countries from each region.

The report also profiles major players in the hereditary angioedema market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include Johnson & Johnson Vision Care, Inc., CooperVision, Novartis AG, Pfizer, Inc., Valeant Pharmaceuticals International, Inc., Allergan and Essilor.

The global optometry market is segmented as follows:

Global Optometry Market Revenue, by Product type

  • Therapeutics
    • Anti- Inflammatory Drugs
      • Steroids
      • NSAIDs
    • Anti-fungal Drugs
    • Anti-infective Drugs
    • Anti-allergy Drugs
    • Others
  • Vision Care Equipment
    • Eye Glasses
    • Contact Lenses
      • Soft Contact Lenses
      • Rigid Gas Permeable Lenses
      • Extended Wear Contact Lenses
      • Others

Global Optometry Market Revenue, by Distribution Channel

  • Hospital Pharmacies
  • Online & Retail Stores
  • Optometry Clinics
  • Optical Centres
  • Others

Global Optometry Market Revenue, by Geography

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • UK
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC countries
    • South Africa
    • Rest of Middle East & Africa

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