Europe Vision Care Market

Europe Vision Care Market Size (2023 to 2028)

The size of the European vision care market is estimated to grow at a CAGR of 2.69% from 2023 to 2028 and worth USD 21.43 billion by 2028 from USD 18.77 billion in 2023.

The European vision care market is expected to experience a healthy growth rate through 2028 due to the increasing prevalence of vision-related disorders such as myopia and hyperopia in the region. The market will also see an increase in ophthalmic care with growing cases of blindness, amblyopia, strabismus allergies, color blindness, glaucoma, and macular degeneration, styes, conjunctivitis. In contrast, the ophthalmic surgeries will continue to grow with cataract surgery, corneal transplantation, Lasik surgery, astigmatism, exophthalmosis, and corrective facio-ophthalmic problems. About 287 million people worldwide are legally blind, according to the World Health Organization (WHO). There are 39.5 million blind and 248 million visually impaired among them.

The increasing rate of the aging population and growing demand for better vision are expected to provide growth prospects for the market. Elders are more prone to eye disorders to impairment of vision due to complications due to other diseases like diabetes, hypertension, etc. The number of people 65 and over is steadily increasing, as is the need for eye care products and services. Vision care products such as corrective lenses, eyewear, eye drops, and medicines are used by people of all ages suffering from any ophthalmic discomfort. Additionally, the overuse of electronic devices such as laptops and smartphones increases the demand for vision care products.

Technological advancements in ophthalmology and the presence of skilled professionals are key factors supporting the growth of the European vision care market. Furthermore, the development of the e-commerce platform is attributed to the developing economy with high disposable income per capita, and increased awareness about vision care is anticipated to drive the market. Furthermore, the evolution of electronic devices has resulted in an increase in screen time for all ages, increasing the growing rate of ophthalmic disorders in Europe.

In 2016, the number of LASIK surgeries in Germany was around 145,000. However, the number of laser eye surgeries performed in Europe fluctuated during the observed period, from over 1.2 million procedures in 2005 to 595 500 procedures in 2016. As a result, the number of laser eye surgeries performed in Europe was close to 758,000 by 2020, while in Germany, the numbers had increased to 136,000 procedures in 2015. The increase in this number of cases can be due to the rise in the volume of patients suffering from chronic diseases and the large senior population in the region. Therefore, the European vision care market is set to grow at a high rate during the forecast period.

However, the high cost of surgical treatment and lack of reimbursement are the main factors responsible for restraining the market. In addition, side effects associated with the use of certain products cause headaches, discomfort, and inflammation, reducing their acceptance by customers. Lack of public awareness of the benefits of vision care products and services is likely to act as a market constraining factor.

This research report on the European vision care market has been segmented and sub-segmented into the following categories.

By Type:

• Glass Lenses
• Contact Lenses
• Intraocular Lenses
• Contact Solutions
• LASIK Equipment
• Artificial Tears

By Distribution Channel

• Retail Stores
• Online Stores
• Clinics
• Hospitals

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

In 2022, the UK, Germany, France, Spain, and Italy were responsible for over 80% of the European vision care market sales. The United Kingdom held a 30% share in the European market in 2022. This regional market will grow due to increased vision care awareness, better health infrastructure, and increased use of technological devices.

Germany is expected to grow at a higher CAGR in the European Vision care market during the forecast period. The growth can be attributed to technological developments, a large senior population, increased health spending by individuals, and favorable government initiatives. In addition, the increasing number of research and development activities associated with the ophthalmic sector will contribute even more in generating immense opportunities for the growth of the vision care market in Germany.

KEY MARKET PLAYERS:

Companies playing a leading role in the European vision care market and profiled in this report are Cooper Vision, Essilor, Johnson & Johnson, Novartis AG, Luxottica, Valeant Pharmaceuticals, Fielmann, Hongchen Optical, Hoya, Menicon, Rodenstock, All Pro Intraocular Lens, Blanchard, CHEMIGLAS, Seiko Group, Shanghai Conant Optics, Synergeyes, UltraVision and Wesley Jessen.