Eyeglass Lenses Market Business Opportunities, Survey, Growth Analysis And Industry Outlook

increasing screen time among individuals leading to rising prevalence of various ocular diseases is a key factor driving market revenue growth

VANCOUVER, BC, CANADA, June 24, 2024 /EINPresswire.com/ -- The global eyeglass lenses market size was USD 43.15 Billion in 2022 and is expected to register a steady revenue CAGR of 5.2% during the forecast period, according to latest analysis by Emergen Research. Rising prevalence of ocular diseases, including conditions, such as refractive errors, age-related macular degeneration, cataracts, diabetic retinopathy, glaucoma, amblyopia, strabismus, and others, is a key factor driving market revenue growth. According to the World Health Organization (WHO), about 2.2 billion people across the world are affected by either near- or distance vision impairments. Among these cases, approximately 1 billion involve vision issues that might have been preventable or remain unaddressed. Recent data on eye health, as compiled by the International Agency for Prevention of Blindness, indicates that there are 295 million individuals with moderate-to-severe visual impairments, and 43 million people are classified as blind on a global scale.

The latest research report is dubbed as the first document encompassing the latest information about the Eyeglass Lenses market that has been gravely affected by the COVID-19 pandemic. The global health crisis poses significant threats to the future growth of the Eyeglass Lenses industry. The report assesses the profound changes in this business setting caused by the outbreak and considers the prominent market aspects that have been severely disrupted by the pandemic. The report thus expounds on the rapidly changing market scenario in this COVID-19 era, which aims to help businesses involved in this sector overcome the pandemic’s gripping effects and formulate new growth strategies to boost the COVID-19 preparedness.

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Key Market Competitors Profiled in the Report:

Essilor, Hoya, Rodenstock Gmbh, Seiko Optical Products Co., Ltd., Vision Ease, Nikon Optical USA., Privé Revaux, Vision Rx Lab, ZEISS Group, and Rudy Project

Some Key Highlights From the Report
The myopia segment is expected to account for largest revenue share in the global eyeglass lenses market over the forecast period. This is due to increasing screen time, reduced exposure to natural outdoor light, genetic or hereditary factors, and extended engagement in close-up activities such as reading, studying, or using electronic devices. According to the recent Sydney Myopia Study, 31% of 17-year-olds have been identified with myopia, which is twice the prevalence documented in the Blue Mountain Eye Study over a decade ago. However, it is anticipated that in the future, even countries with currently low myopia rates will encounter significant myopia-related challenges. In addition, various awareness campaigns are being initiated to enhance understanding of myopia and its treatment, which is also expected to drive revenue growth of this segment during the forecast period.

The online retail segment is expected to register steadily fast revenue growth rate in the global eyeglass lenses market over the forecast period. This is attributed to increasing use of online shopping platforms due to convenience, ease of price comparisons, transparent transactions, versatile payment methods, and flexible return and exchange policies. Various payment options, such as credit cards, digital wallets, and alternative payment options, including Buy-Now-Pay-Later (BNPL) offer consumers versatility, accommodating their diverse preferences and financial circumstances.

The Asia Pacific market accounted for largest revenue share in the global eyeglass lenses market in 2022. This is due to rising prevalence of myopia, especially among children and implementation of various government programs to raise awareness about eye health and importance of regular eye check-ups. In addition, integration of advanced technologies into eyeglass lenses with specialized protective coatings for various industrial environments is also expected to drive market revenue growth of this region during the forecast period.

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This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2020 and 2028. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Eyeglass Lenses market on the basis of product, application, and region:

Emergen Research has segmented the global eyeglass lenses market on the basis type, prescription type, lens material, lens coating, price range, distribution channel, and region:

· Eyeglass Lenses Market Product Type Insights: (Revenue, USD Billion; 2019–2032)
Single-Vision

Bifocal

Trifocal

Progressive

Others

· Eyeglass Lenses Market Prescription Type Insights: (Revenue, USD Billion; 2019–2032)
Myopia

Hyperopia

Astigmatism

Presbyopia

Others

· Eyeglass Lenses Market Lens Material Insights: (Revenue, USD Billion; 2019–2032)
Glass

Plastic CR 39

Polycarbonate

Trivex

Others

· Eyeglass Lenses Market Lens Coating Insights: (Revenue, USD Billion; 2019–2032)
Anti-Reflective Coating

Ultraviolet (UV) Protection Coating

Blue light blocking Coating

Hydrophobic Coating

Oleophobic Coating

Scratch-Resistant Coating

Others

· Eyeglass Lenses Market Price Range Insights: (Revenue, USD Billion; 2019–2032)
Premium or High End Lenses

Mid-Range Lenses

Budget-Friendly Lenses

· Eyeglass Lenses Market Distribution Channel Insights: (Revenue, USD Billion; 2019–2032)
Eyecare Professionals (Optometrists and Ophthalmologists)

Wholesalers and Distributors

Online Retail

Retail Stores

Optical Stores

Department Stores

Specialty Stores

Others

Others

Regional Analysis of the Eyeglass Lenses Market:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Key Objectives of the Report:

Analysis and estimation of the Eyeglass Lenses market size and share for the projected period of 2020-2027

Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape

Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Eyeglass Lenses market

Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments

Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities

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Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or query about customization, please reach out to us, and we will offer you the report best suited for your needs.

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Eric Lee
Emergen Research
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sales@emergenresearch.com
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