Prescription Lens Global Market 2024 To Reach $58.62 Billion By 2028 At Rate Of 6.2%
Prescription Lens Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Prescription Lens Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, July 30, 2024 /EINPresswire.com/ -- The prescription lens market has experienced robust growth in recent years, expanding from $43.46 billion in 2023 to $46.09 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to increased awareness and diagnosis of vision problems, the rise of computers and smartphones has led to greater awareness and demand for lenses, the rise of fashion and designer eyewear, the emergence of online retailers and direct-to-consumer brands has increased, and awareness and diagnosis of vision problems.
Strong Future Growth Anticipated
The prescription lens market is projected to continue its strong growth, reaching $58.62 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increased public awareness and education about eye health, the growth of online retail channels, economic conditions and disposable income levels, availability and extent of insurance coverage for vision care and eyewear, increased urbanization and prolonged use of digital screens.
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Growth Driver Of The Prescription Lens Market
The increasing incidence of vision impairment is expected to propel the growth of the prescription lens market going forward. Vision impairment refers to conditions affecting the eyes, ranging from common issues such as partial vision loss and blindness to more serious ailments such as macular degeneration. Vision impairment is on the rise due to increased screen time, digital device usage, and aging populations, contributing to conditions such as digital eye strain, myopia, and age-related macular degeneration. Prescription lenses aid in correcting vision impairments such as myopia, hyperopia, astigmatism, and presbyopia by refracting light to focus properly on the retina, improving vision clarity, and reducing strain.
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Major Players And Market Trends
Key players in the prescription lens market include Johnson And Johnson Inc., Essilor Luxottica S.A., Carl Zeiss AG, Seiko Optical Products Co. Ltd., Alcon, Hoya Corporation.
Major companies operating in the prescription lens market are developing myopia management spectacle lenses to address the growing need for effective myopia control in children. Myopia management spectacle lenses are specialized glasses designed to slow the progression of myopia (nearsightedness) in children and young adults.
Segments:
1) By Type: Single Vision, Bifocal, Trifocal, Progressive, Active, Other Types
2) By Coating: Anti-Reflective, Scratch Resistant Coating, Anti-Fog Coating, Ultraviolet Treatment
3) By Application: Myopia, Hyperopia Or Hypermetropia, Astigmatism, Presbyopia
Geographical Insights: North America Leading The Market
North America was the largest region in the prescription lens market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the prescription lens market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Prescription Lens Market Definition
A prescription lens refers to a customized optical lens designed to correct specific vision problems based on an individual's eye prescription. These lenses are used to correct vision problems associated with certain medical conditions or eye injuries.
Prescription Lens Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Prescription Lens Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on prescription lens market size, prescription lens market drivers and trends, prescription lens market major players, prescription lens competitors' revenues, prescription lens market positioning, and prescription lens market growth across geographies. The prescription lens market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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