Growing Aging Population
The aging population in Canada is one of the key drivers of growth in the eye care market. As Canadians age, their risk of developing vision problems such as cataracts, macular degeneration, and glaucoma increases, which creates a growing demand for eye care services and products. In addition, as the population ages, there is also a growing demand for eyewear and contact lenses. Many seniors require glasses or contact lenses to correct vision problems, which has led to a growing demand for these products. Another factor driving growth in the eye care market is the increasing prevalence of age-related eye diseases such as cataracts and macular degeneration. These conditions are more common among older individuals, and as the population ages, the number of Canadians with these conditions is expected to increase.
Technological Advancements
Technological advancements have had a significant impact on the growth of the Canada eye care market. Innovations in eye care technology have led to the development of new products and services that are more effective, efficient, and user-friendly. Technological advancements have led to the development of new and more accurate diagnostic tools for eye care professionals. These tools, such as optical coherence tomography (OCT) and corneal topography, allow eye care professionals to diagnose and monitor eye conditions more accurately and effectively. Advances in surgical technology have made eye surgeries safer and more effective. For example, the use of lasers in procedures such as LASIK has made the surgery less invasive and more precise, with faster recovery times. Technological advancements have led to the development of new eye care products, such as contact lenses that can correct multiple vision problems at once, and eyeglasses with anti-glare coatings that reduce eye strain. The use of telemedicine technology has made it possible for patients to receive eye care services remotely. This has been particularly important during the COVID-19 pandemic, as it has allowed patients to access eye care services without leaving their homes.
Changing Consumer Preference
Changing consumer preferences have had a significant impact on the growth of the Canada eye care market. Consumers are increasingly interested in eye care products and services that are convenient, affordable, and cater to their specific needs. Consumers are increasingly turning to online sales channels to purchase eyewear and contact lenses. Online sales have become more popular due to the convenience and competitive pricing they offer, which has led to the growth of online eyewear retailers. Consumers are increasingly looking for eye care products and services that are tailored to their specific needs. This has led to the development of customized eyeglasses and contact lenses that are designed to fit individual prescriptions and lifestyles. Consumers are placing greater emphasis on the fashion and style aspects of eyewear and are seeking out products that are both functional and stylish. This has led to the growth of designer eyewear brands and the development of eyewear products that incorporate fashion-forward design elements. Consumers are becoming more health-conscious and are seeking out eye care products and services that promote eye health and wellness. This has led to the development of products such as blue light blocking glasses, which are designed to reduce eye strain and fatigue caused by digital devices.
Increasing Government Initiatives
Government initiatives have played an important role in influencing the growth of the Canada eye care market. The Canadian government has implemented several policies and initiatives aimed at improving access to eye care services, promoting eye health, and supporting the development of innovative eye care products and services. Canada has a publicly funded healthcare system that provides access to basic eye care services for all residents. This has helped to increase the overall demand for eye care services and has created opportunities for eye care professionals and industry leaders. The Canadian government provides funding for research and development in the field of eye care, which has helped to drive innovation and the development of new products and services. For example, the Canadian government has funded research into the use of stem cells to treat eye diseases and the development of new diagnostic tools for eye care professionals. The Canadian government provides tax incentives for individuals who purchase eye care products and services, which has helped to increase the affordability of these products and services. This has led to increased demand for eye care products and services and has created new opportunities for industry leaders. The Canadian government has implemented health promotion initiatives aimed at raising awareness about the importance of eye health and preventing eye diseases. These initiatives have helped to promote the use of eye care services and products and have created new opportunities for eye care professionals and industry leaders.
Increasing Awareness Regarding Preventive Care for Eye Health
Increasing awareness has had a significant impact on the growth of the Canada Eye Care Market. As more people become aware of the importance of eye health, they are more likely to seek out eye care services and products, which has led to increased demand for these services and products. Increased awareness of the importance of regular eye exams has led to more people seeking out eye care services for early detection and treatment of eye diseases. This has increased demand for eye care services and has created new opportunities for eye care professionals and industry leaders. Awareness campaigns aimed at promoting eye health and preventing eye diseases have helped to increase demand for eye care products and services. This has led to the development of new products and services, such as blue light blocking glasses and vision supplements, that are designed to promote eye health and prevent eye diseases. Increased awareness has led to more people being educated about the importance of eye health and the different types of eye care products and services found at. This has helped to increase demand for these products and services and has created new opportunities for industry leaders. Awareness campaigns have helped to increase awareness of the availability of eye care services and products, which has led to increased accessibility. This has created new opportunities for eye care professionals and industry leaders, particularly in underserved communities.
Recent Developments
- CooperVision MiSight 1 Day Contact LensesIn 2019, CooperVision launched their MiSight 1 Day Contact Lenses in Canada. These contact lenses are designed for children with myopia (nearsightedness) and are the first and only contact lenses approved by Health Canada to slow the progression of myopia in children.
- Alcon DAILIES TOTAL1 Multifocal Contact LensesIn 2020, Alcon launched their DAILIES TOTAL1 Multifocal Contact Lenses in Canada. These lenses are designed to provide clear vision at all distances for people with presbyopia (age-related farsightedness).
- Bausch + Lomb Lumify Eye DropsIn 2021, Bausch + Lomb launched their Lumify Eye Drops in Canada. These eye drops are designed to reduce redness in the eyes and provide relief from dry eye symptoms.
- Hoya Vision MiYOSMART LensesIn 2021, Hoya Vision launched their MiYOSMART lenses in Canada. These lenses are designed for children with myopia and use a unique dual-focus technology to reduce the progression of myopia.
Market Segmentation
Canada eye care market can be segmented by product type, coating, lens material, distribution channel. and region. Based on product type, Canada eye care market can be segmented into eyeglasses, contact lens, intraocular lens, eye care, and others. Based on coating, Canada eye care market can be grouped into anti-glare, anti-reflecting, and others. Based on lens material, Canada eye care market can be segmented into normal glass, polycarbonate, trivex, and others. Based on distribution channel, Canada eye care market can be segmented into retail retailers, e-commerce, clinics, and hospitals. Regionally, Canada Eye Care Market can be categorized into Ontario, Quebec, Alberta, British Columbia and Saskatchewan and Manitoba.
Market Players
Alcon Canada Inc, Allergan Inc/Canada., Novartis Pharmaceuticals Canada Inc, Essilor Network in Canada Inc, Johnson & Johnson Inc/Canada., Bausch & Lomb Canada Inc., Abbott Products Canada Inc., and Pfizer Canada Inc are some of the leading players operating in the Canada eye care market.
Attribute | Details |
Base Year | 2022 |
Historic Data | 2018 – 2021 |
Estimated Year | 2023 |
Forecast Period | 2024 – 2028 |
Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered | Product Type Coating Lens Material Distribution Channel Region |
Regional Scope | Ontario region; Quebec region; Alberta region; British Columbia region; Saskatchewan and Manitoba region; Rest of Canada |
Key Companies Profiled | Alcon Canada Inc, Allergan Inc/Canada., Novartis Pharmaceuticals Canada Inc, Essilor Network in Canada Inc, Johnson & Johnson Inc/Canada., Bausch & Lomb Canada Inc., Abbott Products Canada Inc., Pfizer Canada Inc |
Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |