Eyewear Market Overview and Segmentation Forecast To 2024

Eyewear Market Overview and Segmentation | Forecast To 2024
“Global Eyewear Market report includes in-depth analysis of industry by
recent technologies, trends, opportunities, challenges, key players and
business strategies considering types, segment and future outlook.”
The global Eyewear Market is expected to witness a substantial growth due to the growing
prevalence of eye diseases and growing awareness regarding eye health. Increasing dependency
on smartphones, tablets and TVs has led to prevalence of eye-based diseases, thereby driving
market growth in past few years. Rising geriatric population, highly susceptible towards optical
deficiencies, is expected to foster the market growth of eyewear over the forecast period.
Globally, the eyewear industry is predicted to grow at a moderate CAGR in the forecast period,
providing numerous opportunities for market players to invest for research and development in
the market.
Other factors responsible for the growth of eyewear market are rising disposable income and
growing in health consciousness among general population, and increasing in adoption of vision
care products. In addition, current lifestyle changes such as increasing use of computers,
television are leading to rise in number of patient pool that are suffering from various eye
diseases. Increasing adoption of promotional campaign and implementation of aggressive
market strategies by the major industry players in order to generate additional revenue, thus
fostering market growth in the upcoming years.
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However, growing competition among market players is leading to the presence of counterfeit
products in the market, thus hampering market growth to a certain extent. Additionally, rise in
the number of the domestic market players and higher cost associated with research and
development of eye care products are substantially obstructing marker progress, in recent
years. Increasing prevalence of the various eye disorders due to prolonged exposure to
electronic devices like TV, mobile phones or computers, and pollution, are propelling demand
of the various eye care products in the market.
However, growing demand for vision correction procedures and surgeries like that of LASIK
(Laser-Assisted In Situ Keratomileusis) and PRK (Photorefractive Keratectomy) are expected to
limit market progress to a certain extent. Rising sale of premium eyeglasses and sunglasses and
growing popularity in the European countries such as Germany, U.K., France, and Spain is
expected to favor industry expansion over the next seven years. In addition, development of
broad range of eyewear with new styles, shapes, and sizes is projected to boost market demand
worldwide. Availability of variety of options in market is driving more number of customers in
the past few years.
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The eyewear industry is broadly categorized into three major segments based on the products
type such as contact lenses, spectacles and plano sunglasses. The spectacles segment is growing
rapidly in the eyewear market with substantial revenue generation in the last few years.
Growing popularity of the spectacles segment is attributed to the growing prevalence of eye
disorders and rising aging population across the globe. The plano sunglasses segment has also
witnessed substantial growth owing to the growing popularity of polarized sunglasses. The
plano sunglasses segment is further subcategorized based on material type such as CR-39,
polycarbonate and polyurethane.
The eyewear industry is divided by region as North America, Europe, Asia-Pacific, Latin America
and Africa. North America has shown major growth in recent years owing to the rise in the
implementation of latest technologies, rise in awareness level among general population,

upsurge in number of research & development activities and existence of well-established
manufacturing infrastructure in the region.
Asia-Pacific region is estimated to hold major share in the eyewear market with massive growth
in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market
with growing geriatric population, growing health consciousness among individuals, rising
disposable income, and significant investment by leading industry players considering potential
growth opportunities in the region.
The key players in the eyewear industry are Cooper Vision, Inc., Luxottica Group S.p.A., Bausch
+ Lomb, Inc., Zeiss International, Inc., Johnson & Johnson Vision Care, Inc., HOYA Co., De Rigo
S.p.A., Fielmann AG, and Safilo Group S.p.A.
Market Segment:
Eyewear Product Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2024)
• Contact lenses
• Spectacles
• Spectacle frames
• Spectacle lenses
• Plano sunglasses
• By product
• Polarized
• Non-polarized
• By material,
• CR-39
• Polycarbonate
• Polyurethane
• Others
Eyewear Regional Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2024)
• North America
• U.S.

• Canada
• Mexico
• Europe
• UK
• Germany
• Asia Pacific
• China
• Japan
• India
• South America
• Brazil
• MEA
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