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Global Vision Care Market - Innovative Product Launches to Boost Growth | Technavio

12:02 EDT 17 Apr 2018 | Businesswire

Technavio Research

Technavio’s latest market research report on the global vision care market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technaviodefines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

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Technavio has published a new market research report on the global vision care market from 2018-2022 ...

Technavio has published a new market research report on the global vision care market from 2018-2022. (Graphic: Business Wire)

According to Technavio market research analysts, the global vision care market will grow at a CAGR of over 4% during the forecast period. The rise in frequency of product launches is a major factor driving the market’s growth.

Various vision care manufacturing companies are focusing on increasing their market share by focusing on product launches through extensive investments in R&D. Companies are trying to differentiate products based on the demand by consumers like patients, hospitals, and ophthalmology clinics.

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In this report, Technavio highlights innovative product launches as one of the key emerging trends driving the global vision care market:

Innovative product launches

The global vision care market has witnessed several initiatives in innovative product development. For instance, the technology used for producing contact lenses witnesses constant modernization. Traditionally, lenses were produced using the molding and lathe processes. However, with advances in technology, modern molding techniques, and laser cutting technologies are employed. These technologies are efficient, reduce the overall cost, and improve the quality and precision of the final product. Such factors have increased product adoption rates, thereby benefiting the vision care market.

According to a senior analyst at Technavio for health and wellness research, “Advances in technologies have also affected the materials used for contact lenses. Siloxane compound is a recent innovation. It forms a thin, flexible film, and admits almost 25 times more oxygen to the eye than soft lenses that are popularly used. The introduction of such technologies will improve the quality of the lenses and provide enhanced results for vision.”

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Global vision care market segmentation

This market research report segments the global vision care market by product (glass lens, contact lens, IOLs, contact lens solution, and others) and key regions (the Americas, APAC, and EMEA).

The glass lens segment accounted for close to 74% share of the market in 2017. This can be attributed to the easy availability of products globally. This was followed by the contact lens segment and the intraocular lenses segment.

In 2017, the global vision care market was dominated by the Americas with a market share of over 39%, followed by EMEA and APAC. The Americas segment was the largest revenue contributor due to the presence of developed countries such as the US and Canada. These countries have advanced healthcare infrastructure.

 

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

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