Eye Care is Emerging as the Most Progressive Sector in Medical Technology
Eye care has been an important part of the healthcare industry. Visual impairment and preventive blindness, which once stood among common ailments, have turned into major health challenges for the global healthcare system. An increase in eye ailments due to change in lifestyle and prolonged exposure to digital content is resulting in the computer vision syndrome, driving refractor errors in children and adults alike.
According to a market research report “ Global Vision Care Market (Eyeglasses and Contact Lenses Market) – Strategic Assessment and Forecast 2017–2022”, an estimated 285 million people worldwide are found to be visually impaired with a majority of them having little access to high-quality eye care, which is affecting work productivity, safety, and quality of life. The market research report published by Beige Market Intelligence states that several federal governments have declared blindness as a serious and major health concern, and are increasingly investing to bring affordable and high-quality services for the diagnosis and treatment of eye ailments.
Rapid technological advancements, aging population, and increased incidence of eye disorders driven by the shift in lifestyles are enabling the growth in demand for eye care products and services. The industry’s growth is primarily driven by consumers with their superfluous income levels, health consciousness, insurance reach, and ill-effects of sedentary lifestyle often accompanied by an over usage of gadgets.
Eye Care Products
Major OTC products that are in demand in the eye care market are glasses, lenses, frames and sunglasses, post-surgical accessories, and lens care solutions, while the most sought services are cataract and glaucoma treatment and LASIK. The study on the eye care market at Beige Market Intelligence states that eyeglasses and contact lenses are the most economical alternatives to treat refractory errors and also pre-operative or post-operative corrections. Once glass fitted frames have been now replaced by lightweight fiber fitted glasses, which can be molded to derive value-added benefits such as anti-scratch, UV protection, moisture resistant and anti-glare variants, offering significant scope for innovation to vendors to capitalize upon.
Transversal Usage Trends of Eye Care Products and Fashion Accessories To Increase The Demand
Fashion accessories over the past two decades have emerged to be multi-functional driven by convenience and appearance. The scope of innovation, which traditionally was limited to material science and appearance, has rapidly emerged in functionality. There has been a consistent increase in product breadth in eyeglasses and contact lenses wherein value-added products such as anti-glare, anti-reflective, anti-scratch, moisture-resistant mirror, and tinted variants have been launched. These variants have dissolved the distinction between traditional standalone products such as safety glasses, prescription glasses, and fashion accessories such as sunglasses. Another reason behind the increase in these multi-functional products is better profit margins and potential competitive advantage.
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