Vision Correction Market Is Predicted to Reach USD 41.25 Billion by 2031, Says Allied Market Research

Portland, OR, Jan. 13, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global vision correction market was estimated at $20.30 billion in 2021 and is expected to hit $41.25 billion by 2031, registering a CAGR of 7.4% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

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Report coverage & details:

Covid-19 scenario-

• A decrease in the number of consultations for eye diseases and cancellation of non-emergency procedures during the pandemic had a negative impact on the global vision correction market.
• However, as the global situation has recovered, the market has now got back on track.

The global vision correction market is analyzed across method, application, end-user, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

By method, the glasses segment held the largest share in 2021, garnering around three-fourths of the global vision correction market revenue, and is projected to maintain its dominance by 2031. The same segment would also showcase the fastest CAGR of 7.5% during the forecast period.

By application, the presbyopia segment contributed to nearly one-third of the global vision correction market share in 2021, and is projected to rule the roost by 2031. The myopia segment, on the other hand, would display the fastest CAGR of 8.1% throughout the forecast period.

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By end-user, the hospital segment accounted for the highest share in 2021, generating nearly half of the global vision correction market revenue. The same segment would also portray the fastest CAGR of 7.9% during the forecast period.

By region, North America held the major share in 2021, garnering more than one-third of the global vision correction market revenue. Asia-Pacific, simultaneously, would showcase the fastest CAGR of 8.1% from 2022 to 2031.

The key market players analyzed in the global vision correction market report include  MaxiVision Eye Hospital, Rayner Surgical Group Limited,  Bausch Health Companies Inc, The Cooper Companies Inc,  Carl Zeiss AG, STAAR Surgical Company, Johnson & Johnson, Ziemer Group AG, Alcon, and SCHWIND eye tech-solutions GmbH & co.kg. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players. 

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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