Asia Pacific Eye Care Market to Witness Healthy Growth until 2025
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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