The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 127 billion (Eyewear Market)
• Forecast CAGR (2021-2026): 3% (Eyewear Market)
• Forecast Market Size (2026): USD 155 billion (Eyewear Market)
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The reading glasses market is being driven by the growing awareness among consumers regarding the importance of corrected vision. The market is being aided by growing government initiatives to spread awareness regarding visual impairment, particularly in developing countries. Further, many developing nations lack sufficiently trained ophthalmic support personnel like technicians and assistants for simple eye screenings. The growing investments by various government and private organisations to meet these requirements and make reading glasses more accessible to general public are aiding the industry growth. Over the forecast period, the technological innovations and the increasing preference for online services are expected to significantly boost the market growth.
Industry Definition and Major Segments
Reading glasses are glasses that are worn by individuals facing difficulties in reading or seeing things closely. They consist of glass or hard plastic lenses incorporated in a frame. These glasses are available in various styles and prices to meet the customer requirement.
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By type, the reading glasses industry can be segmented into:
The industry can be categorised on the basis of glass type into:
• Single Vision
• Progressive Lenses
• Bifocal Glasses
• Trifocal Glasses
Based on age group, the industry can be grouped into:
• Less Than 18 Years
• 18 To 64 Years
• 65 Years and Above
The various distribution channels in the industry include:
• Ophthalmology Clinics
• Optical Stores
• Online Stores
The regional markets for reading glasses include
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The global reading glasses market is expected to be driven by the growing consumer demand for affordable and stylish reading glasses. The manufacturers are making significant investments to meet these requirements and are focusing on technological innovations. For instance, in May 2018, Lenskart Solutions made an investment worth $500,000 in Thinoptics Inc, a California based reading glass manufacturer. The investment is aimed at manufacturing reading glasses that can be attached to the smartphone, laptop, or key chain and placed on reader’s nose. Thus, such innovations are expected to grab consumer attention, thus, aiding the market. Further, the growing consumer inclination towards online channels are expected to further enhance the sales of reading glasses in the forecast period. Some leading players are also collaborating with online platforms to target potential customers by making their products available at huge discounts and various offers.
Key Market Players
The major players in the market are De Rigo Vision S.p.A., Bausch & Lomb Incorporated, Zenni Optical, Inc., ThinkOptic, Inc., and Hoya Lens Thailand Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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