The demand for vision care products and services in North America is projected to rise at a CAGR of 5.8% through 2033. This growth trajectory signifies a significant expansion from a valuation of US$ 65,326.3 million in 2023 to an estimated valuation of US$ 114,800.8 million by 2033.
The increasing prevalence of vision-related disorders and the growing aging population are expected to drive the demand for vision care products and services. Additionally, advancements in technology and innovation within the vision care industry, leading to the development of sophisticated vision correction solutions and treatments, are fostering greater consumer interest and adoption.
Adoption Analysis in the North America Vision Care:
| Attributes | Details |
|---|---|
| North America Vision Care Sales Outlook for 2023 | US$ 65,326.3 million |
| North America Vision Care Demand Outlook for 2033 | US$ 114,800.8 million |
| North America Vision Care Sales CAGR for 2023 to 2033 | 5.8% |
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The vision care product sales in North America exhibited a noteworthy CAGR of 7.6%, signifying a substantial expansion from 2018 to 2022. Nevertheless, the projected CAGR of 5.8% indicates a marginal decline in the expansion rate in the forecast period. This transition could have been influenced by several factors, such as heightened competition and changing consumer preferences. In addition, technological advancements, economic fluctuations, and regulatory modifications might have impacted the demand growth trajectory.
| Historical CAGR | 7.6% |
|---|---|
| Forecast CAGR | 5.8% |
Short-term Analysis of North America Vision Care Adoption Outlook from 2018 to 2022
| 2018 | US$ 46,125.97 million |
|---|---|
| 2022 | US$ 61,745.1 million |
The demand for vision care in North America witnessed a robust growth rate of 7.6% from 2018 to 2022, reaching a valuation of US$ 61,745.1 million.
Mid-term Analysis of North America Vision Care Adoption Outlook from 2023 to 2028
| 2023 | US$ 65,326.3 million |
|---|---|
| 2028 | US$ 86,599.3 million |
From 2023 to 2028, the North America vision care demand outlook is projected to reach US$ 86,599.3 million, reflecting a CAGR of 5.8%.
Long-term Analysis of North America Vision Care Adoption Outlook from 2028 to 2033
| 2028 | US$ 86,599.3 million |
|---|---|
| 2033 | US$ 114,800.8 million |
The long-term analysis forecasts the sales outlook for vision care in North America to grow to US$ 114,800.8 million by 2033, maintaining a CAGR of 5.8%.
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The section presents a comprehensive understanding of the dominant product segment and distribution channels in the industry of vision care in North America. With a detailed analysis of the top product segment, RX-lenses, and the leading distribution channel, retail stores, the report provides valuable insights into the share percentage and the factors contributing to their growth in 2023.
| Attributes | Details |
|---|---|
| Top Product | Rx-Lenses |
| Share in 2023 | 47.1% |
Rx-Lenses holds a significant share of 47.1% in North America's vision care sales outlook for 2023. This dominance can be attributed to several key factors driving the growth of this category, including:
| Attributes | Details |
|---|---|
| Top Distribution Channel | Retail Stores |
| Share in 2023 | 61.2% |
Retail Stores emerge as the leading distribution channel in the North America vision care demand outlook, capturing a substantial share of 61.2% in 2023. The dominance of retail stores can be attributed to the following growth factors.
This section delves into a comprehensive analysis of the vision care demand in both the United States and Canada, offering valuable insights into each country through 2033. With a CAGR of 9.9% for the United States and 8.2% for Canada, the report provides key perspectives on the factors driving the growth of the vision care industry.
| Attributes | Details |
|---|---|
| Vision Care Demand in United States CAGR through 2033 | 9.9% |
| Vision Care Demand in Canada CAGR through 2033 | 8.2% |
The United States boasts a robust demand for vision care products with an impressive CAGR of 9.9% projected through 2033. This dominance is underpinned by several key factors driving the growth of the vision care industry in the United States.
In Canada, the demand for vision care products is anticipated to rise at a CAGR of 8.2% through 2033. Several factors are instrumental in fostering the growth of the vision care industry in Canada:
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The vision care industry in North America is highly competitive, with several key players vying for dominance. These companies offer a wide range of vision care products and services, including eyeglasses, contact lenses, intraocular lenses, and eye care surgery. They compete on several factors, including price, quality, convenience, and brand recognition.
The vision care product manufacturers are constantly innovating and developing new products and services to stay ahead of the competition. For example, EssilorLuxottica has recently invested heavily in the development of new eyeglass lens technologies, such as the Crizal Sapphire UV and Varilux X series. Johnson & Johnson Vision has also been active in innovation, with the recent launch of its Acuvue Vita contact lenses and its PrecisionID technology for LASIK surgery.
In addition to innovation, the key players in the vision care industry are also focused on expanding their distribution networks and making their products and services more accessible to consumers. For example, Warby Parker has recently opened several brick-and-mortar stores, and LensCrafters now offers online eye exams.
Recent Developments by Companies Offering Vision Care in North America:
The sales of vision care products in North America are likely to rise at a CAGR of 5.8% through 2033.
Sales of vision care products are expected to remain high from retail stores in North America.
Some vision care providers in North America are EssilorLuxottica, CooperVision, and Alcon.
The sales of vision care in North America are projected to surpass US$ 114,800.8 million by 2033.
The increasing prevalence of vision-related disorders and a growing emphasis on preventive eye care in North America.
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Type, 2023 to 2033
5.3.1. Rx-Lenses
5.3.2. Frames
5.3.3. Contact Lenses
5.3.4. Non Rx Sunglasses
5.3.5. Reading Glasses
5.3.6. Contact Lens Solutions
5.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033
6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Distribution Channel, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Distribution Channel, 2023 to 2033
6.3.1. Retail Stores
6.3.2. E-Commerce
6.3.3. Clinics
6.3.4. Hospitals
6.4. Y-o-Y Growth Trend Analysis By Distribution Channel, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Distribution Channel, 2023 to 2033
7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033
7.3.1. USA
7.3.2. Canada
7.4. Market Attractiveness Analysis By Region
8. USA Vision Care Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.2. By Product Type
8.2.3. By Distribution Channel
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Product Type
8.3.3. By Distribution Channel
8.4. Key Takeaways
9. Canada Vision Care Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.2. By Product Type
9.2.3. By Distribution Channel
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Product Type
9.3.3. By Distribution Channel
9.4. Key Takeaways
10. Market Structure Analysis
10.1. Competition Dashboard
10.2. Competition Benchmarking
10.3. Market Share Analysis of Top Players
10.3.1. By Regional
10.3.2. By Product Type
10.3.3. By Distribution Channel
11. Competition Analysis
11.1. Competition Deep Dive
11.1.1. Johnson & Johnson Vision Care Inc.
11.1.1.1. Overview
11.1.1.2. Product Portfolio
11.1.1.3. Profitability by Market Segments
11.1.1.4. Sales Footprint
11.1.1.5. Strategy Overview
11.1.1.5.1. Marketing Strategy
11.1.1.5.2. Product Strategy
11.1.1.5.3. Channel Strategy
11.1.2. Valeant Pharmaceuticals International Inc
11.1.2.1. Overview
11.1.2.2. Product Portfolio
11.1.2.3. Profitability by Market Segments
11.1.2.4. Sales Footprint
11.1.2.5. Strategy Overview
11.1.2.5.1. Marketing Strategy
11.1.2.5.2. Product Strategy
11.1.2.5.3. Channel Strategy
11.1.3. Novartis AG
11.1.3.1. Overview
11.1.3.2. Product Portfolio
11.1.3.3. Profitability by Market Segments
11.1.3.4. Sales Footprint
11.1.3.5. Strategy Overview
11.1.3.5.1. Marketing Strategy
11.1.3.5.2. Product Strategy
11.1.3.5.3. Channel Strategy
11.1.4. The Cooper Companies Inc
11.1.4.1. Overview
11.1.4.2. Product Portfolio
11.1.4.3. Profitability by Market Segments
11.1.4.4. Sales Footprint
11.1.4.5. Strategy Overview
11.1.4.5.1. Marketing Strategy
11.1.4.5.2. Product Strategy
11.1.4.5.3. Channel Strategy
11.1.5. SynergEyes Inc
11.1.5.1. Overview
11.1.5.2. Product Portfolio
11.1.5.3. Profitability by Market Segments
11.1.5.4. Sales Footprint
11.1.5.5. Strategy Overview
11.1.5.5.1. Marketing Strategy
11.1.5.5.2. Product Strategy
11.1.5.5.3. Channel Strategy
11.1.6. Luxottica
11.1.6.1. Overview
11.1.6.2. Product Portfolio
11.1.6.3. Profitability by Market Segments
11.1.6.4. Sales Footprint
11.1.6.5. Strategy Overview
11.1.6.5.1. Marketing Strategy
11.1.6.5.2. Product Strategy
11.1.6.5.3. Channel Strategy
11.1.7. Essilor International
11.1.7.1. Overview
11.1.7.2. Product Portfolio
11.1.7.3. Profitability by Market Segments
11.1.7.4. Sales Footprint
11.1.7.5. Strategy Overview
11.1.7.5.1. Marketing Strategy
11.1.7.5.2. Product Strategy
11.1.7.5.3. Channel Strategy
11.1.8. ZEISS International
11.1.8.1. Overview
11.1.8.2. Product Portfolio
11.1.8.3. Profitability by Market Segments
11.1.8.4. Sales Footprint
11.1.8.5. Strategy Overview
11.1.8.5.1. Marketing Strategy
11.1.8.5.2. Product Strategy
11.1.8.5.3. Channel Strategy
12. Assumptions & Acronyms Used
13. Research Methodology
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Vision Care Industry Analysis in North America
