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New report examines the increasing prevalence of ophthalmic diseases is likely to drive the growth of eyewear market at 7% in next few years till 2024

New report examines the increasing prevalence of ophthalmic diseases is likely to drive the growth of eyewear market at 7% in next few years till 2024

Eye frames cost is significantly less than the cost of contact lenses, however their replacement rate is lesser. Eye contact lenses are widely used in media and entertainment industry to develop different looks such as vampires, anime etc. Launch of technological advanced contact lenses along with the increasing use of disposable lenses is fuelling the growth of eye wear market across the globe.

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Eyewear Market: Global Demand Analysis & Opportunity Outlook 2024

The global eyewear market is segmented into product such as contact lenses, spectacles and plano sunglasses. Among these segments, spectacles segment dominated the overall eye wear market in 2016.

Further, presence of large base of population suffering from refractive errors across the globe is escalating the growth of this segment. Increasing occurrence of refraction errors such as myopia, hyperopia, presbyopia, and astigmatism in population aging over 40 years is increasing the demand for spectacles across the globe.

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The global eyewear market was valued at around USD 100 Billion in 2016 and is expected to reach at revenue of USD 180 Billion by the end of 2024. The market is expected to expand on the back of increasing occurrence of ophthalmic diseases across the globe.

Further, rapid adoption of eyewear for cosmetic purposes is expected to fuel the growth of eyewear market over the forecast period. Further, rising adoption of protective glasses to prevent disorders which may cause by spending most of the time in front of computer screens is envisioned to propel the growth of eye wear market.

The North America eyewear market accounted for major share 2016. Increasing prevalence of blindness and other eye diseases are predicted to fuel the growth of market in this region.

According to national eye institute, 2.9 Millions of American had low vision in 2014. Further, rising prevalence of eye diseases such as age-related macular degeneration, glaucoma, diabetic retinopathy and cataract is increasing the demand for eyewear in North America region.

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Prevalence of Eye Diseases

The occurrence of blindness is increasing globally. Increasing prevalence of diabetes is major factor which is augmenting the incidence of diabetic retinopathy disease globally.

According to WHO (World Health Organization), cataract is responsible for more than 50% of world blindness. Further, increasing prevalence of eye disorders is anticipated to increase the demand for protective eye wear during the forecast period.

Swelled Disposable Income

Swelled disposable income of the consumers and their increased spending on personal care items are envisioned to increase the demand for plano sunglasses. Further, increased spending of population on fashion accessories is likely to intensify the growth of Global Eyewear Market.  

However, rapid advancements in medical science and refractive treatments which help in reduces the dependency of population on corrective eyewear is likely to inhibit the growth of the eyewear market in the near future.

The report titled Eyewear Market : Global Demand Analysis & Opportunity Outlook 2024delivers detailed overview of the global eyewear market in terms of market segmentation by product, by material and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the global eyewear market which includes company profiling of Luxottica, Safilo, Johnson & Johnson Vision Care, Essilor Int., CooperVision, Bausch & Lomb, Carl Zeiss, De Rigo, CIBA Vision Inc., Marchon Eyewear, Hoya Corp., Vision Express, Specsavers Optical. and Fielmann. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.

On the whole, the report depicts detailed overview of the global eyewear market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment.

We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

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Category: Market Research Publishers and RetailersCompany profile: Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wis ...