Harrisburg, NC -- (SBWIRE) -- 10/22/2020 -- The Global Vision Care Devices And Equipment Market Research Report 2020-2030 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
The global vision care devices and equipment market was valued at about $27.6 billion in 2018 and is expected to grow to $33.68 billion at a CAGR of 5.1% through 2022.
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Market Segmentation
Top leading Companies of Global Vision Care Devices And Equipment Market are – Essilor, Johnson & Johnson, ZEISS, The Cooper Companies and Novartis
Markets Covered: 1) By Type: Intraocular Lens, Ophthalmic Lasers, Glaucoma Drainage Devices, Contact Lenses, Others 2) By End User: Vision Care, Diagnosis, Surgery
Rising use of electronic devices is a continuous driver for the growth of vision care devices and equipment market. Usage of laptops, mobiles, PCs and others electronic devices has increased in the day-to-day life, which is the major factor responsible for eye-related problems. According to a survey by Deloitte, Americans collectively check their phones over 8 billion times per day. On an average, every person spends about five hours daily browsing the internet and using apps.
Lack of awareness among the people regarding the eye diseases include glaucoma, mascular degeneration, and others effects the market growth of the vision care devices and equipment market. According to a study in the USA, around one-thirds of survey respondents are not aware of glaucoma, more than half were unaware of mascular degeneration, and one-fourth of survey respondents were not aware of any eye conditions.
Technological advancement in vision care devices have totally transformed the eye care. Vision technology has witnessed some great scientific breakthroughs and innovation in the past few years and these advances are rapidly changing the future of those with chronic eye conditions. The innovation includes DriveSafe lenses with anti-glare coating to help with poor driving conditions, photochromic contact lenses that blocks sun's harmful UV rays, and blue light blocking glasses among others. Major companies such as Johnson & Johnson Vision have invested in adaptive lenses.
In the USA, eyeglass frames and prescription lenses are regulated by FDA. These are classified as class 1 medical devices. These devices are exempt from filing a pre-market notification application, and FDA clearance before marketing a Class 1 device in the United States. Due to this prescription eyeglasses sold via the internet are still considered an FDA regulated product. In European Union (EU) medical devices including contact lens are regulated by European Commission (EC). The EC works in close conjunction with each country ('Member State) respected Health Authorities to integrate the various national requirements into a single law that could be rolled out and applied across the EU. The EU region is set to roll out new medical device regulations (MDR) in 2020, under which the contact lenses are included. These new regulations sheds light on the importance of prioritizing safety and efficacy prior to achieving marketing approval, and on transparency of device information. These new EU regulations will have an impact on contact lens approvals in Europe.
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What are the market factors that are explained in the report?
Executive Summary: It includes key trends of the global Vision Care Devices And Equipment market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the global Vision Care Devices And Equipment market based on production and revenue.
Production and Consumption by Region: It covers all regional markets focused in the research study. It discusses about prices and key players besides production and consumption in each regional market.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Vision Care Devices And Equipment market.
Market Segments: This part of the report discusses about product type and application segments of the global Vision Care Devices And Equipment market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach Vision Care Devices And Equipment used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
Finally, Vision Care Devices And Equipment Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
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