“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. Eye wears are mainly used to correct eye vision. Now-a-days eye wear products are widely used for fashionable appearance. Spending more time in front of computer is leading to ophthalmic disorders in a significant way across the globe. Increasing aging population is another factor that increases the patient pool of ophthalmic disorders.
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.
Europe region holds the largest consumer base of eye wear market; the region marked a dominant share of 45% in the global market in 2016. Asia Pacific region is anticipated to expand at a higher pace; the market is anticipated to reach USD 44 billion by the end of 2024 owing to the increasing demand for spectacles in the region. North America dominates the contact lens market followed by Europe and Asia Pacific. The market is anticipated to reach 19 billion by the end of 2024 owing to the increasing popularity of contact lenses in developed countries such as U.S and Canada.
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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.
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The report titled “Eyewear Market : Global Demand Analysis & Opportunity Outlook 2024” delivers 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.
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.
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