Global Spectacle Market Report 2025 is projected to be USD 92.96 billion by the end 2025, according to a new report released by Million Insights. It is anticipated to grow with a CAGR of 2.4% during, 2019 to 2025. Increasing risk of refractive error particularly among youngsters is expected to drive the demand for the product. Moreover, people tend to prefer prescription glasses instead of contact lenses as they help in better correction of vision. This factor is anticipated to positively impact the growth of the market. Rising demand for glasses used specifically while working on computer to eliminate strain on eyes and reduce headache is expected to propel the demand for the product.
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Market Synopsis of Spectacle Market:
In 2018, the lens segment had largest share of 56.2% in the spectacles market. The demand for different types of lenses such as progressive, bifocal, trifocal, and single vision lens has witnessed a significant growth during the forecast period. Furthermore, plastic frames are gaining high popularity owing to ease of repairing and improved durability which is expected to boost the growth of frames segment from 2019 to 2025. Manufacturers focus on adding extra features and frequently innovating the lens material. For example, Essilor Ltd. launched Crizal Lenses which are coated with hydrophobic film that protects the lens from water droplets that tend to stick to the lens’ surface.
The segment of the online distribution channel is projected to grow at the fastest CAGR of 3.2% during the forecast period. Online retailers provide huge discounts and offer variety of products with customization options and step by step online guide while buying any eyewear. These factors are expected to propel the growth of the online segment. The leading online retail stores include Lenskart; Warby Parker; and Zenni Optical, Inc.
In 2018, the revenue share held by North America was 32.6%. Rapid increase in aging population and predominance of presbyopia in countries like Canada and U.S. are the factors anticipated to proliferate the market in this region. Furthermore, Vision Council of America reported that out of total adult population in U.S., 75% of the adults use measures for vision correction, of which 64% adults use spectacles (eyeglasses). This factor is estimated to drive the spectacles market n this region from 2019 to 2025.
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Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Spectacle: Market Variables, Trends & Scope
Chapter 4 Spectacle: Product Estimates & Trend Analysis
Chapter 5 Spectacle: Application Estimates & Trend Analysis
Chapter 6 Spectacle: End-use Estimates & Trend Analysis
Chapter 7 Spectacle: Industrial End-use Estimates & Trend Analysis
Chapter 8 Spectacle: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Spectacle: Manufacturers Company Profiles
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