Vietnam Eye Care Market to Grow with a CAGR of 5.25% through 2029
Changing Lifestyles and Urbanization and increase in the aging
population is expected to drive the Vietnam Eye Care Market growth in the
forecast period, 2025-2029
According to TechSci Research report, “Vietnam Eye Care
Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, the Vietnam
Eye Care Market stood at USD 38.60 million in 2023 and is anticipated to grow
with a CAGR of 5.25% through 2029. The surge in disposable incomes among Vietnamese
consumers emerges as a pivotal catalyst for market expansion. As economic
prosperity escalates, a greater number of individuals gain the financial
capability to afford various eye care services, encompassing routine check-ups,
corrective procedures, and the acquisition of eyewear. This burgeoning consumer
segment propels market growth while fostering a diversification of the products
and services available.
Urbanization and evolving lifestyles contribute
significantly to the uptick in eye-related ailments such as myopia and digital
eye strain. The burgeoning urban populace, coupled with prolonged screen time,
amplifies the demand for solutions addressing these lifestyle-induced eye
health concerns. This trend fuels innovation and prompts the introduction of
specialized eye care remedies tailored to these emerging needs. Also, Vietnam's
aging demographic serves as a notable growth driver for the eye care market.
With advancing age comes a heightened prevalence of age-associated eye
conditions such as cataracts and macular degeneration. This demographic shift
translates into an increased demand for diagnostic and treatment services,
alongside specialized products tailored to the requirements of the elderly
population.
Enhancements in healthcare infrastructure, spanning
the expansion of medical facilities and the upskilling of healthcare
professionals, further bolster market expansion. Improved accessibility to
top-tier eye care services, particularly in rural locales, encourages a broader
swath of the populace to seek both treatment and preventive care, thereby
fostering market growth. Technological advancements emerge as a cornerstone in
propelling market expansion by facilitating the development of innovative eye
care solutions. From state-of-the-art diagnostic tools to pioneering surgical
techniques, technological breakthroughs elevate treatment outcomes, enrich
patient experiences, and broaden the spectrum of services rendered by eye care
providers.
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The Vietnam Eye Care Market is segmented into product type,
coating, lens material, distribution channel, regional distribution, and
company.
Based on its Lens material, the Polycarbonate segment
has emerged as the predominant market leader, Polycarbonate lenses have
garnered acclaim for their exceptional resistance to impact and durability,
rendering them ideal for individuals engaged in active lifestyles or
occupations prone to eye injuries, such as athletes, children, and those
working in industrial or construction settings. In Vietnam, where outdoor
pursuits and manual labor prevail, there exists a notable demand for robust
eyewear solutions, propelling the widespread adoption of polycarbonate lenses. Polycarbonate
lenses are notably lightweight compared to conventional materials like glass.
This characteristic enhances wearer comfort, particularly during prolonged
wear, a crucial consideration in Vietnam's tropical climate characterized by
hot and humid conditions. The preference for lightweight eyewear that mitigates
discomfort is pronounced among consumers, further cementing the dominance of
polycarbonate lenses in the market.
Many polycarbonate lenses boast built-in UV
protection, safeguarding the eyes against harmful ultraviolet rays. Given
Vietnam's proximity to the equator and consequent heightened exposure to UV
radiation year-round, there has been a burgeoning awareness regarding the
significance of UV protection for preserving eye health. Consequently,
polycarbonate lenses offering UV protection resonate strongly with consumers
seeking comprehensive eye care solutions, thereby bolstering their market
prominence. The exceptional impact resistance, lightweight composition, and UV
protective properties of polycarbonate lenses cater to the specific needs and
preferences of Vietnamese consumers, driving their widespread adoption and
dominance in the market landscape.
Major companies operating in Vietnam Eye Care Market
are:
- COOPERVISION, INC
- Seed Vietnam Contact Lens Company
Limited
- Acuvue Vietnam (Johnson & Johnson
Vision Care, Inc.)
- Bausch + Lomb
- Nice Eyes Service Trading Co., Ltd
- HOYA LENS VIETNAM
- Essilor Vietnam
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“Vietnam Eye Care Market presents a dynamic landscape
characterized by significant growth opportunities and evolving consumer trends.
With factors such as increasing awareness of eye health, rising disposable
incomes, technological advancements, and expanding healthcare infrastructure
driving market expansion, the future holds immense promise for stakeholders
within the industry. By leveraging these trends, embracing innovation, and
prioritizing the delivery of high-quality, personalized eye care services, businesses
can position themselves for sustained success in meeting the diverse needs of
Vietnamese consumers and contributing to the advancement of eye health across
the nation”, said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based management consulting firm.
“Vietnam Eye Care Market By Product Type (Eyeglasses, Contact Lens, Intraocular Lens, Eye Drops, Eye Vitamins, Others), By Coating (Anti-Glare, UV, Others), By Lens Material (Normal Glass, Polycarbonate, Trivex, Others), By Distribution Channel (Retail Stores, E-Commerce, Clinics, Hospitals), By Region, Competition Forecast & Opportunities, 2019-2029F”, has evaluated
the future growth potential of Vietnam 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 Vietnam Eye Care Market.
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