Majority of contact lenses available in the market are daily disposable, 2 week disposable or monthly disposable. Soft contact lenses, rigid gas permeable contact lenses, and extended wear contact lenses are other types of contact lenses.
North America Vision Care Market is estimated to account for US$ 110,648.3 Mn in terms of value by the end of 2027.
North America Vision Care Market: Drivers
Increasing adoption of contact lenses among children is expected to boost growth of North America vision care market over the forecast period. For instance, according to a review published by The Center for Ocular Research & Education in September 2018, 97% of practicing optometrists in the American Optometric Association (AOA) reported that they have fitted contact lenses to children younger than 18.
North America Vision Care Market: Opportunities
Increasing prevalence of diabetic retinopathy is expected to offer lucrative growth opportunities for players in the market. For instance, according to the Centers for Disease Control and Prevention, the number of people in the U.S. suffering from diabetic retinopathy is expected to reach 14.6 million in 2050 from 7.7 million in 2010.
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North America Vision Care Market: Restraints
Reduced uptake of contact lenses is expected to hinder growth of North America vision care market. Some of the side effects of wearing contact lenses include, eye infections, corneal ulcers, and blindness (in rare cases).
The Rx-Lenses segment in North America vision care market was valued at US$ 23,914.0 Mn in 2019 and is expected to reach US$ 52,170.0 Mn by 2027 at a CAGR of 10.2% during the forecast period. Increasing prevalence of cataract is expected to propel growth of North America vision care market over the forecast period.
Several healthcare institutes are offering vision care services for free. For instance, in February 2020, the Seattle King County Free Health Clinic offered free dental and vision care services.
Major public and private foundations are focused on increasing awareness about vision care. For instance, in February 2020, Essilor Vision Foundation, through its Vote for Vision campaign, encouraged the populace to get an eye exam in 2020.
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North America Vision Care Market: Competitive Landscape
Major players operating in North America vision care market include, Novartis AG, CooperVision, Inc., Johnson and Johnson Vision Care Inc., Valeant Pharmaceuticals International, Inc., SynergEyes, Inc., ZEISS International, Essilor International, and Luxottica.
North America Vision Care Market: Key Developments
Major players in the marker are focused on conducting clinical trials to expand their product portfolio. For instance, in April 2019, Visioneering Technologies, Inc. released additional data regarding its patented NaturalVue Multifocal (etafilcon A) 1 Day Contact Lens.
Major players in the market are also focused on product approval and launch to expand their product portfolio. For instance, in January 2019, SynergEyes, Inc. launched SimplifEyes 1 Day daily disposable lens with dual tangible polymers.
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