The new report by Expert Market Research titled, ‘Global Reading Glasses Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global reading glasses market, assessing the market based on its end-use and major regions. 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 analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
Historical Market Size (2020): USD 127 Billion
Forecast CAGR (2021-2026): 3%
Forecast Market Size (2026): USD 155 Billion
The growth in the global reading glasses market is induced by the growing prevalence of visual disorders amongst individuals of all age groups. The increasing aging population, growing incidences of ocular disorders like presbyopia, and surging usage of computers, mobile phones and other gadgets influence the demand of reading glasses immensely. Rising awareness about the eye care, increasing standards of living and rising disposable income of the consumers are other major contributors to the market growth. The escalating demand for fashionable and convenient eyeglasses is making the manufacturers to concentrate more on innovative designs and product developments.
Industry Definition and Major Segments
Reading glasses are the most common method of correcting the vision by eyeglasses for people of all ages. These are the spectacles worn by individuals who have trouble reading the material properly as they reduce the strain on eyes and headache very effectively.
The prescription type reading glasses are more preferred as OTC glasses have poor quality with same corrective strength for both eyes. North America accounts for the major share in the industry region-wise, with the United States serving the major market.
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Based on type, the market is divided into:
Prescription
OTC
Based on glass type, the industry is segmented into:
Single Vision
Progressive Lenses
Bifocal Glasses
Task-Specific
Trifocal Glasses
Others
Based on age group, the market can be categorised as:
Less than 18 Years
18 to 64 Years
65 Years and above
Based on distribution channel, the market is divided into:
Ophthalmology Clinics
Optical Stores
Online Stores
Others
Latest Global News on Reading Glasses Market@
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On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others
Market Trends
The reading glasses market is supported by the rapid technological advancements and emergence of IoT with manufacturers targeting online buyers by giving options like 3D try on. Market players are also increasing their penetration in the untapped market segments of developing regions. The manufacturers are coming up with redesigned marketing strategies aiming to target a larger consumer base. Premium eye wear brands are in focus in developed regions like North America and Europe, while there is an increase in the launch of low-cost and semi-premium eyewear in the developing regions like Asia Pacific.
The ease of availability of OTC glasses through online portals is further going to boost the market. Supported by the surging smartphone utilization and greater penetration of internet are expected to propel the growth of reading glasses market.
Key Market Players
The major players in the market are De Rigo Vision S.p.A., Bausch & Lomb Incorporated, Zenni Optical, Inc., ThinkOptic, Inc., 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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