Report Hive Research adds a new study titled “Eyewear Market Report” to its research database. Delivering in-depth insights, the report discusses recent trends, market drivers, applications, restraints, opportunities, and growth prospects of the global Eye Market forecasted from 2020 to 2026. Besides, it also includes vital information related to future strategies, mergers and acquisitions, market footprint, financial positions, key players competitive analysis, supply chain trends, innovations, and major developments.

The rapid increase in demand for prescription eyeglasses and contact lenses due to age-related disorders such as presbyopia will drive the global eyewear market growth. According to the WHO, in 2018, approximately 1.3 billion people worldwide encountered some form of visual impairment, of which 217 million had moderate to severe visual impairment, and 286 million people are living with myopia.  Furthermore, the increasing count of the elderly population as a result of advanced medical systems provide a positive outlook for the expansion of eyewear the market size in the years to come.

Advances in technology have led to a rapid increase in exposure of younger generations to smartphones and computers, causing vision problems such as hyperopia, myopia, and astigmatism, and thereby has increased demand for prescription eyeglasses and contact lenses. Manufacturers are expected to invest in developing new product ranges incorporating advanced protective features to reduce glare and UV exposure. Increasing prevalence of computer vision syndrome (CVS) or digital eye strain commonly developed among teens and adults due to continuing working on computer systems are anticipated to upsurge the eyewear market demand during the forecast period.

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However, the increasing adoption of vision correction surgeries such as LASIK, RLE, PRK, LASIK, epi-LASIK, and PRELEX due to the development of medical technology may hinder the product demand in the upcoming years. Also, the large price gap between branded and unbranded eyewear in price-sensitive countries is shifting the preference for lower-priced products, especially among the middle-income group, which might have a negative impact on the overall eyewear market share.

Apart from vision-correcting eyewear products, the ongoing economic development, supported by rising per capita income has led to a surge in consumer spending on fashion products such as sunglasses as well. The geographical expansion of the world-renowned sunglasses brand owed to lucrative branding strategy has poured in substantial revenue in the eyewear industry as a whole.

The global Eyewear Market is projected to continue a healthy growth trajectory, growing at an estimated CAGR of X.X% in terms of value during the forecast period. 

Key Players discussed in this report:

·       Luxottica Group S.p.A.

·       Essilor International

·       Grand Vision

·       Formosa Optical

·       Carl Zeiss AG

·       Hoya Corporation

·       De Rigo S.p.A.

·       Indo Internacional

·       Safilo Group S.p.A.

·       Johnson & Johnson

·       CIBA Vision

·       CooperVision

·       GBV

·       Marchon

·       Fielmann AG

·       Bausch & Lomb

·       Charmant

·       TEK Optical Canada

Market Segmentation covered in this Report:

By product types:

·       Prescription Eyeglasses

·       Sunglasses

·       Contact Lenses

By applications/ End Users:

·       Young Adults

·       Adults

·       Mature Adults

·       Seniors

By regions:

·       North America (United States, Canada)

·       Europe (Germany, France, UK, Italy, Russia, Spain)

·       Asia Pacific (China, Japan, Korea, India, Australia, New Zealand)

·       Middle East & Africa (Middle East, Africa)

·       Latin America (Mexico, Brazil, C. America, Chile, Peru, Colombia)