Global market for vision care devices hits $20bn

Global market for vision care devices hits $20bn

The worldwide market for vision care devices has now reached $20 billion (£12 billion), according to the latest study.

A report published by Global Data, entitled Vision Care (Contact Lenses and Spectacle Lenses) - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016, claims that this market is set to top $24 billion within six years, with contact lenses playing a significant role in this growth.

Currently, the spectacle lens market is valued at $2.4 billion, but the contact lens sector is now worth $2.3 billion and expected to overtake glasses lenses by 2016.

The US remains the biggest market for vision care devices, with Global Data noting: "The market in the US is expected to be driven by the increasing aged population, which comprises approximately 18 per cent of the total US population, and brand consciousness among patients."

by Martin Burns

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