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. Increasing instances of eye disorders is the major
factor behind the strong growth of eyewear
market. Government of underdeveloped countries are taking initiatives in
collaboration with the market players to launch eye exams camps and to provide
eye wearable’s to people suffering from vision disorders. They also provide
training to the local people to become eye care professionals in areas where
eye care is limited or non-existent.
Eye frames
cost is significantly less than the cost of contact lenses, however their
replacement rate is lesser. Eye contact lenses are widely used in media and
entertainment industry to develop different looks such as vampires, anime etc.
Launch of technological advanced contact lenses along with the increasing use
of disposable lenses is fuelling the growth of eye wear market across the
globe.
Market Segmentation
By Product
Deep dive
market analysis has been carried out on following product segments:-
Contact
Lenses
Soft
Lenses
Gas
Permeable Lenses
Hybrid
Contact Lenses
Spectacles
Spectacles
Frames
Spectacle
Lenses
Plano
Sunglasses
Polarised
Sunglasses
Non-Polarised
Sunglasses
By
Material
CR-39
Polycarbonate
Metal
Nylon
Polyurethane
Others
By Region
Global Eye
Wear Market is further classified on the basis of region as follows:
North
America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity
Analysis
Latin
America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth &
Opportunity Analysis
Western
and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium,
Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth
& Opportunity Analysis
Asia-Pacific
(China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market
size, Y-O-Y growth & Opportunity Analysis
Middle
East and Africa( GCC, South Africa, North Africa) Market size, Y-O-Y growth
& Opportunity Analysis
Growth
Drivers and Challenges
With
growing aging population, the count of people suffering from eye disorder has
increased in a remarkable way. The increasing prevalence of age-related macular
degeneration will further increase the demand for corrective eye wear across
the globe.
Rising
popularity of contact lenses among young generation coupled with increasing use
of fashionable contact lenses is anticipated to fuel the sales of eye wear
market across the globe. Gas permeable lenses hold out exceptional eye care
factors as they are less likely to port bacteria compared to soft contact lenses.
Young
generation is more vulnerable to ophthalmic disorder due to spending most of
the time in front of screens; increasing prevalence of ophthalmic disorders
among young generation will further boost the demand for eye wears in upcoming
5-6 years.
Emerging
e-commerce companies such as lenskart.com are offering attractive
cost-effective deals in order to grab the market; the increasing competition
among key market players is anticipated to bring down the prices of eye wear,
this will further impulse the demand for eye wear over the forecast period.
Rising
awareness towards refractive surgeries such as photorefractive keratectomy and
LISIK that reduces individual dependency on corrective eye wears is expected to
hamper the growth of market as these technologies are becoming more affordable
due to advancement in medical sector which is anticipated to be the major
factor restraining the market growth over the forecast period.
Market Size & Forecast
Global eye
wear market was value at USD 100 billion in 2015; the market is anticipated to
reach around USD 180 billion by the end of 2024 witnessing a compound annual
growth rate of 7% over the forecast period i.e. 2017-2024. In terms of volume,
the global market stood at around 2.7 billion unit sales in 2015 further the
market is anticipated to reach 3.92 billion units by the end of 2024.
Europe region holds the largest
consumer base of eyewear
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.
Spectacles
segment dominated the product segment of eye wear market owing to its long
durability and safety in comparison to contact lenses, spectacles market is
anticipated to expand with a compound annual growth rate of 7.2% over the
forecast period.
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.
Key Players
Luxottica
Safilo
Johnson
& Johnson Vision Care
Essilor
Int.
CooperVision
Bausch
& Lomb
Carl Zeiss
De Rigo
CIBA
Vision Inc.
Fielmann
Marchon
Eyewear
Hoya Corp.
Vision
Express
Specsavers
Optical.
Scope and
Context
Overview
of the Parent Market
Analyst
View
Segmentation
By Product
Market Size & Y-O-Y Growth Analysis
By
Material Market Size & Y-O-Y Growth Analysis
By Region
Market Size & Y-O-Y Growth Analysis
By Regions
Global Eye
Wear market has been studied on countries and regions like:
North
America (U.S., Canada) Market Size & Y-O-Y Growth Analysis
Latin
America (Mexico, Brazil, Rest of Latin America) Market Size & Y-O-Y Growth
Analysis
Western
and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest
Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size &
Y-O-Y Growth Analysis
Asia-Pacific
(China, India, Singapore, Japan, Australia & New Zealand & Rest of
Asia) Market Size & Y-O-Y Growth Analysis
Middle
East and North Africa (MENA) Market Size & Y-O-Y Growth Analysis
Rest of
World Market Size & Y-O-Y Growth Analysis
Market
Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
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more about this research, kindly visit:
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Ajay
Daniel
Email:
ajay.daniel@researchnester.com
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U.K. +44 203 608 5919
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