Artificial Intelligence
Vision Care Market Share Report ($98.96 Billion by 2028) Lead by Eyeglasses Segment – Exclusive Report by The Insight Partners
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New York, Feb. 28, 2023 (GLOBE NEWSWIRE) — According to The Insight Partners, “Vision Care Market Size, Share, Growth, Trends and Global Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type (Eye Glasses, Contact Lens, Intraocular Lens, and Others) and Distribution Channel (Retail Stores, E-Commerce, Clinics, and Hospitals)” the global vision care market growth is driven by growing prevalence of eye diseases, increasing awareness of vision care and rising funds for eye care research.
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Global Vision Care Market – Report Scope:
| Market Size Value in | USD 74.11 Billion in 2022 |
| Market Size Value by | USD 98.96 Billion by 2028 |
| Growth rate | CAGR of 4.9% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 162 |
| No. of Tables | 57 |
| No. of Charts & Figures | 69 |
| Historical data available | Yes |
| Segments covered | Product Type, and Distribution Channel |
Global Vision Care Market Analysis: Competitive Landscape and Key Developments
Alcon Inc, Bausch Health Companies Inc, Carl Zeiss AG, Cooper Companies Inc, Essilorluxottica SA, Johnson & Johnson Services Inc., Hoya Corporation, Rodenstock GmbH, Menicon Co. Ltd, and Rayner Intraocular Lenses Limited are a few of the key companies operating in the vision care market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
In March 2022, Alcon Inc launched the Clareon family of IOLs in the US. Using Alcon’s most advanced IOL material, Clareon can deliver consistent visual outcomes and exceptional clarity that lasts.
In January 2021, Alcon Inc. launched its first and only non-diffractive extended depth of focus IOL—the AcrySof IQ VivityT IOL (Vivity)—in the US. This new lens is now available to all ophthalmologists in the US for operating cataract patients.
In October 2020, Bausch + Lomb introduced the SimplifEYE IOL delivery system, which is particularly available for the enVista MX60PL and the enVista toric MX60PT. It is the first preloaded toric IOL and is available in the US market.
In May 2020, Johnson & Johnson Services Inc launched TECNIS Multifocal Toric II IOL. This features a new generation of frosted haptics, offering more surface texture and friction between the lens haptics and the capsular bag.
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The US holds a significant share of the vision care market. The growth of the market in the country is primarily driven by the increasing prevalence of eye diseases. Further, the aging population in the US is likely to favor the adoption of vision care products. According to a study published by Population Reference Bureau in 2019, the number of individuals in the US aged 65 and above is estimated to double from 52 million in 2018 to ~95 million by 2060, and the 65 and more age group’s share of the total population will increase from 16% to 23% during this period. The elderly population is highly vulnerable to eye defects. Refractive errors are the most frequent eye problems in the US. Refractive errors include myopia (near-sightedness), hyperopia (farsightedness), astigmatism (distorted vision at all distances), and presbyopia, which occur among people of age 40–50. These can be corrected by eyeglasses, contact lenses, or surgeries. The National Eye Institute states that proper refractive correction could improve vision among 150 million Americans. Cataract, which is a leading cause of blindness worldwide, is characterized by the clouding of the eye lens; it is also the leading cause of vision loss in the US. An intraocular lens (IOLs) is a tiny, artificial lens that is used during cataract surgery. The rising prevalence of cataracts is driving the adoption of IOLs in the country. Refractive errors are common due to increasing stress on the eyes and the low nutritional value of diets. As per the American Academy of Ophthalmology, more than 34 million Americans aged 40 and more (i.e., 23.9% of this population) are myopic. In addition, a refractive error occurs in ~1 in 3 people, and the condition may occur in combination with near or farsightedness. According to a study conducted by the Centers for Disease Control and Prevention (CDC) in 2020, ~12 million people over age 40 in the US are suffering from vision impairment. The same study states that an estimated 6.8% of children below age 18 are diagnosed with some kind of eye condition in the US. Such a massive prevalence of eye conditions represents a lucrative opportunity for the progress of the vision care market in the US.
Impact of COVID-19 Pandemic on Global Vision Care Market Growth:
The rising number of COVID-19 patients led to an overall negative impact on the vision care market. Physical distancing measures were implemented widely to reduce disease transmission. Further to reduce the spread, clinic visits and elective surgeries were canceled in 2020. According to a survey by Alcon Canada, ~66% of the Canadian population requiring vision correction are spending more time on computer, tablet, or phone screens than they did before the pandemic, and ~31% feel their eyesight has gotten worse.
Moreover, a study conducted by a research firm Leger on 1,000 Canadians requiring vision correction estimated that one-third (34%) delayed the purchase of new contact lenses while another third (33%) delayed buying new glasses; ~40% were uncomfortable visiting their eye care clinics during the COVID pandemic.
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Vision Care Market: Segmental Overview
Based on product type, the vision care market is segmented into eyeglasses, contact lens, intraocular lens, and others. In 2022, the eyeglasses segment accounted for the largest market share. The same segment is anticipated to register the highest CAGR during the forecast period. Eyeglasses, also known as spectacles, consist of glass or plastic lenses mounted on frames. Eyeglasses are not only used for vision correction such as nearsightedness but are also used for cosmetic purposes. Corrective eyeglasses are used to correct refractive errors by properly bending the light entering the eye to reduce the effects of conditions such as farsightedness (hypermetropia), nearsightedness (myopia), or astigmatism. Eyeglasses are also used by laboratory technicians, construction workers, etc., for protection. Elderly people from the age group 65–75 wear corrective eyeglasses. Increasing incidences of refractive errors among the younger population, preference for eyeglasses over contact lens, and growing geriatric population are key factors driving the growth of the market for eyeglasses.
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Global 3D Machine Vision Market Size Forecast to 2028 – COVID-19 Impact and Global Analysis By Offering (Hardware, Software); Product (PC Based, Smart Camera Based); Application (Quality Assurance and Inspection, Positioning and Guidance, Measurement, Identification); End-Use (Automotive, Pharmaceuticals and Chemicals, Electronics and Semiconductor, Pulp and Paper, Printing and Labeling, Others) and Geography
Global Computer Vision in Healthcare Market Size Forecast to 2028 – COVID-19 Impact and Global Analysis By Product and Services (Software, Hardware, Services); Application (Surgeries, Medical Imaging and Diagnostics, Other Applications); End User (Diagnostic Centers, Healthcare Providers, Other End Users) and Geography
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Global Robotic Vision Market Size Forecast to 2028 – COVID-19 Impact and Global Analysis by Component (Smart Camera, Lighting, Optics, Frame Grabber, Computer, Software, Others); Technology (2D, 3D); End User (Automotive, Packaging, Aerospace, Food Processing, Metal Processing, Electrical and Electronics, Others) and Geography
Global Automotive Vision Sensors Market Size Forecast to 2028 – COVID-19 Impact and Global Analysis By Product (Monocular Vision, Binocular (stereo) Vision); Application (Commercial Vehicle, Passenger Car) and Geography
Global Vision Sensor Market Size Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type (Code Readers, 3D Sensors, Monochrome Vision Sensors, Color Vision Sensors, Others); Application (Industrial Inspection and Verification, Code Reading, Localization, Gauging, Others); Industry Vertical (Pharmaceuticals, Consumer Electronics Industry, Food and Packaging, Electronics and Semiconductor, Automotive, Others) and Geography
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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Artificial Intelligence
New first of its kind UK legal-tech recruitment platform aims to put an end to overseas worker scams
Unique UK-based legal technology platform, Immpact, helps unite the global talent market to fulfil UK skills shortages across healthcare, construction, engineering, life sciences and hospitality Immpact directly connects employers, recruiters and regulated legal experts with pre-qualified global talent – and aims to help eradicate profiteering job scammersREADING, England, May 28, 2024 /PRNewswire/ — A unique new legal-tech recruitment platform has launched in the UK to help put an end to overseas worker scams and directly connect UK employers and recruiters with pre-qualified overseas global talent. Immpact will help fulfil acute skills shortages across sectors including healthcare, construction, engineering, life sciences and hospitality, while ensuring full legal Home Office compliance.
The launch of Immpact follows over two years of advanced legal-tech development. Using the immigration law expertise of Founder and Managing Director, Jonathan Beech, and his team of specialists, the platform will help unite a previously disconnected global talent market with under-resourced UK employers and transform global workplace migration. Immpact has also been developed through discussions with hundreds of employers, industry bodies and overseas talent.
With job scams – from fake jobs to illegal fees for sponsor licences – ongoing, particularly in the social and healthcare sector, Immpact will ensure only pre-qualified talent, employers and recruitment firms are placed on its platform following stringent multi-layer checks. This will ensure that all jobs and talent are qualified and genuine along with thoroughly regulated employers and recruiters, to provide a global marketplace for talent.
Jonathan Beech, Founder and Managing Director of Immpact, said: “Through my existing business running Migrate UK, I’m acutely aware of the issues that UK employers and recruiters are having in trying to fulfil talent shortages across sectors such as care, healthcare and life sciences. I also regularly hear terrible stories of genuine overseas job hunters being ripped off in their home countries or the UK by job scammers, often running to thousands of pounds.
“I knew there had to be a better way to match pre-qualified overseas talent with genuine work opportunities and responsible UK employers – effectively a ‘talent’ match-making site which is designed to eradicate scammers to provide a global, trusted marketplace for talent.”
Following the latest government immigration rule changes, overseas recruitment costs are continuing to rise for businesses struggling with talent shortages. From 4 April 2024, the minimum salary for entering the new skilled visa worker route for the first time increased by 48%, from £26,200 to £38,700 a year. There are different rates for those already holding a skilled worker certificate of sponsorship prior to this date and discounts are available for key shortage roles on the Immigration Salary List (ISL).
Immpact will benefit employers and recruiters by saving them time and money. Working with recruitment experts to analyse existing overseas recruitment workflows, Immpact has calculated that it will save 50% of the time involved in managing overseas recruitment, helping to cut down the time-consuming filtering of applications traditionally needed.
For employers traditionally looking to recruit overseas applicants, previous data from industry recruitment software specialists show that 30% of overseas applications are rejected as they do not have the right to work, while 64% are rejected due to CVs being unclear or requirements not being met. This leaves just 6% of applications remaining, which results in about 2% then being interviewed. Immpact will automatically present only suitable pre-qualified applications to employers or recruiters, eradicating wasted time on unsuitable or unqualified applicants.
Beech continues: “Following thousands of hours of development and utilising the latest advanced technology which can adapt to evolving Home Office requirements and procedures, we’re proud to launch Immpact. Our unique new platform takes care of the entire process – from pre-qualifying processes, searching and shortlisting, down to arranging interviews, successful appointments, onboarding, the provision of regular content and guidance, and access to regulated immigration legal professionals.
“Our new technology will transform global migration for both UK organisations and businesses struggling to recruit and global talent looking to work in the UK. Immpact has been thoroughly tested at every stage and is both user-friendly and, crucially, compliant, so qualified overseas applicants and UK employers and recruiters can be confident that only genuine UK jobs and overseas applicants match and proceed. Quite simply, we want Immpact to simplify the whole migration process by putting the right talent in the right place at the right time, and for UK employers to fulfil critical talent shortages which will help them not only survive, but thrive.”
The platform has a free trial or low-cost subscriber options for search-matching and more for employers and recruiters. For talent, the platform has zero costs for creating a profile, using the pre-qualifying tools or searching for opportunities. For further information visit www.immpact.ai.
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Artificial Intelligence
Bluecrux supports Sanofi in harnessing AI to transform supply chains for tomorrow
BARCELONA, Spain, May 28, 2024 /PRNewswire/ — Sanofi is all in on AI and wants to become the first biopharma company powered by AI at scale. The company is using AI to chase the miracles of science by accelerating drug discovery, enhancing clinical trial design and improving the manufacturing and supply of medicines and vaccines to get them to patients in need faster. Bluecrux’s digital supply chain twin technology, Axon, plays a critical role in Sanofi’s digital supply chain transformation.
Delivering miracles of science to patients
The company is paving the way as a leader in innovation among pharma companies with its broad AI implementation, enhancing operational capabilities across various domains of the business. Sanofi’s ambition is particularly pronounced in its supply chain strategy, in which AI is pivotal in “delivering miracles of science to patients.” With greater efficiency, the company can redirect savings toward R&D and medicine development.
Bluecrux’s Axon plays a critical role in Sanofi’s digital supply chain transformation. Axon is a digital twin that integrates and harmonizes all Sanofi’s data systems into ONE single digital value chain model. This allows for a comprehensive understanding of Sanofi’s supply chain operations from start to finish. “The end-to-end visibility of our supply chain value stream has already helped us identifying large opportunities to improve inventory and process cycle times that will ultimately get our products to patients faster”, says Leif Skibsted Jakobsen, Head of Digital Supply Chain Sanofi. “We have put in place a structured process for implementing these opportunities and with Axon we are also able to validate the results.”
“Axon is an important puzzle piece in supporting Sanofi’s aims to create an E2E-connected, data driven and digitally accelerated supply chain”, adds Valerie Vandenbroucke, VP for Axon Technology Bluecrux. “Although the use of the platform is already transformational, the journey has just begun, with many more breakthroughs on the horizon.”
Sanofi and Bluecrux at Gartner Barcelona
At the upcoming Gartner Supply Chain Symposium EMEA conference in Barcelona (June 10-12), Bluecrux will join Sanofi in a special session that will delve into the transformative power of artificial intelligence in the realm of supply chain management. Valérie Vandenbroucke, VP of Bluecrux’s Axon Technology, and Sanofi’s Leif Skibsted Jakobsen will be co-presenting.
During the session, attendees will gain insights into how Sanofi has harnessed AI to meet and exceed its business objectives. It will explore how Sanofi translated its vision into a practical roadmap and how AI can catalyze a true transformation in supply chain management, including helping the company become an E2E-connected, data-driven and digitally accelerated supply chain.
About SanofiWe are an innovative global healthcare company, driven by one purpose: we chase the miracles of science to improve people’s lives. Our team, across some 100 countries, is dedicated to transforming the practice of medicine by working to turn the impossible into the possible. We provide potentially life-changing treatment options and life-saving vaccine protection to millions of people globally, while putting sustainability and social responsibility at the center of our ambitions.Sanofi is listed on EURONEXT: SAN and NASDAQ: SNY
About Bluecrux
Founded in 2011, Bluecrux is a leading value chain technology and consulting company, assisting global companies to navigate and improve their supply chains. The company’s global reach and innovative technologies, Binocs and Axon, reflect its goal to combine expertise with technology, turning challenges into opportunities.
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Artificial Intelligence
Slovenian Tourist Board Unveils Innovative Projects to Enhance Tourism and Sports Visibility: Audio Stories, AI-Powered Virtual Assistant, and “Slovenia – Sports Destination” Website
LJUBLJANA, Slovenia, May 28, 2024 /PRNewswire/ — Slovenia is a land of countless natural beauties, cultural treasures, top health and wellness resorts and superb gastronomy, which the Slovenian Tourist Board aims to showcase to visitors in an innovative and attractive way. To achieve this, the Board continually analyzes current marketing trends and develops projects designed to excite tourists, spark their curiosity and inspire them to explore further.
By staying at the forefront of marketing strategies, the Slovenian Tourist Board ensures that the country’s unique attractions are presented in the most engaging and appealing manner possible. The most recent projects to boost Slovenia’s visibility include three new projects: Sounds Like Slovenia, a series of audio stories, an AI-powered virtual assistant named Alma on slovenia.info and the “Slovenia – Sports Destination” website.
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Meet Alma, an AI-powered virtual assistant
Alma, named after the adventurous traveller and writer Alma M. Karlin, operates using advanced AI technology, filtering content to suit user interests. She sources reliable information from the slovenia.info database and over 50 verified websites of Slovenian tourist destinations and providers. As one of the first AI assistants in Slovenian tourism, and among the few AI assistants integrated in national tourism organizations’ websites in Europe, Alma positions slovenia.info as a reliable source of information and inspiration for international visitors.
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Slovenia – Sports Destination Website
The Slovenia–Sports Destination website serves as a comprehensive resource for organizing sports activities and events, conferences, rehabilitation and inspiration, available in both Slovenian and English. Sports agencies, clubs, and event organizers can use the portal to connect directly with relevant partners in Slovenia. The website also provides direct contacts for specialized sports agencies and federations, assisting with the organization of preparatory matches and other logistical needs. Information on sports accommodations is also available.
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Sounds Like Slovenia
Thematic playlists on Spotify and sound stories on slovenia.info provide an immersive audio experience of Slovenia’s landscapes and cultural offerings. Themes are categorized into five categories: the Sounds of Nature, Thrilling Outdoor Adventures, Cities and Culture, Health and Well-Being, and Gastronomy. Crafted for the global digital campaign, the audio list aims to captivate travelers worldwide.
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Together, these projects demonstrate Slovenia’s dedication to innovation and sustainability in tourism, offering visitors unforgettable experiences in this vibrant European destination with a green heart.
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