E-commerce Segment to Dominate Europe Eye Care Market through 2025
Growing prevalence of eye
diseases and technological advancements in ophthalmology to drive Europe eye
care market
According
to TechSci Research report, “Europe 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 anticipated to witness significant growth rate
during the forecast period owing to the rising technological advancement in the
field of ophthalmology. Growing awareness about eye care and rising prevalence
of vision related issues in people of all ages are key factors driving the
growth of Europe eye care market. Furthermore, growing geriatric population, which
is highly prone to eye disorders such as cataract, glaucoma, amblyopia and
strabismus, is also accelerating the demand for eye care products. Europe’s world-class
healthcare infrastructure acts like a major support for the growth of eye care
market.
Moreover, excessive use of electronic devices such as
laptops and smart phones are creating various eye disorders, which is
augmenting Europe eye care market. Various healthcare organizations and NGOs are
also working towards creating awareness about eye health, which is providing a
major boost for the growth of eye care industry. Additionally, manufacturers are
coming up with new generation eye care products, featuring innovative materials,
which is further fueling the growth of this market. With increasing expenditure
on healthcare and high per capita disposable income of countries such as
Germany, France and United Kingdom, the market is anticipated to witness a
healthy growth through 2025.
However, Europe eye care market might also face some
challenges. Side effects related to the usage of certain eye care products might
hamper the growth of eye care market in the region.
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The Europe
eye care market is segmented based on product type, coating, lens material,
distribution channel and region. Based on product type, the market can be split
into eyeglasses, contact lens, intraocular lens, eye drops and others. Europe
accounts for world’s third largest region for contact lenses and solutions. The
reasons can be attributed to wide availability of products at lower price. The
segment is anticipated to dominate the market until 2025 with increasing cases
of vision related disorders.
Based
on distribution channel, Europe eye care market is segmented into retail
stores, e-commerce, clinics and hospitals. Among them, e-commerce segment
underwent fastest growth in 2019 and is further expected to dominate the market
through 2025 owing to the increasing number of manufacturers using online
platforms as their key marketing and distribution tool.
Major players operating in the Europe eye
care market include Novartis AG, Essilor International SA, F.Hoffmann-La Roche,
Alcon Laboratories UK Ltd, Allergan, Ltd., Johnson & Johnson Vision Care
Ireland Ltd, Hoya Lens UK Ltd., Bausch & Lomb GmbH , Abbott (UK) Holdings
Ltd., Carl Zeiss Meditec AG, CooperVision Ltd., Merck KGaA, Luxottica Group SpA
and Valeant Pharmaceuticals Ltd. The companies are extensively focusing on
research & development activities to launch novel eye care products into
the European market. Other
growth strategies include mergers & acquisitions and partnerships.
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“Europe
is serving as a lucrative market for eye care products market as people are
willing to spend on high-end products. Additionally, rising prevalence of
myopia and hypermetropia is creating demand for vision correcting lenses,
particularly contact lenses. The market is highly concentrated with top five
companies representing over 60% of value sales in the region.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Europe 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 Europe 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 Europe eye care market.
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