DUBLIN--(BUSINESS WIRE)--The "Spectacle Lens Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The growth of the global spectacle lens market is due to the increasing geriatric population and rising prevalence of optical disorders. Globally, according to the United Nations 2017 report, "World Aging Population", the population of the elderly has increased especially in developed countries. For instance, the percentage of the population aged 60 years or above is expected to increase from 21.5% in 2017 to 27.5% by 2050.
According to the WHO, currently, people have a high life expectancy. By 2050, the world's population aged 60 years and above is expected to reach a total of 2 billion. As of 2018, 125 million people are aged 80 years or older. As per the same source, by 2050, it is estimated that almost 120 million people will be living in China alone. The increase in the number of cases of ocular conditions, such as cataract and diabetic retinopathy, across the world, is assisting the market growth. Hence, these factors are expected to propel the market growth over the forecast period.
Key Market Trends
Prescription Glass Segment is Expected to Exhibit Fastest Growth Rate over the Forecast Period
Prescription glasses refer to spectacles whose lenses have been made specifically to match the wearer's defects of vision. The purpose of prescription glasses is to correct or improve the vision of people with nearsightedness ( myopia ), farsightedness (hyperopia), presbyopia, and astigmatism.
With increasing awareness of vision impairment conditions and available vision correction solutions, the demand for these devices is increasing. Even in developed regions do the world, the trend seems to be still increasing due to growing vision correction, due to factors like growing geriatric population. For instance, according to the 2017-18 National Health Survey (NHS) of Australia, the percentage of the population with visual impairment has been increasing over the years in Australia. This is expected to help the growth of the market.
North America Captured the Largest Market Share and is Expected to Retain its Dominance
The United States (US) and Canada have a developed and well-structured health care system. These systems also encourage research and development. These policies encourage global players to enter the United States and Canada. As a result, these countries enjoy the presence of many global market players. Moreover, developing countries like Mexico in North America has the advantage of having developed nations in the vicinity. This allows many companies to penetrate the Mexican market, boosting growth in the country as well.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Demand of Vision Correction among all in the Age of Digitalization
4.2.2 Increasing Prevalence of Optical Disorders
4.3 Market Restraints
4.3.1 Poor Quality of Lens
4.4 Industry Attractiveness Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Single Vision
5.1.2 Bifocal
5.1.3 Trifocal
5.1.4 Progressive
5.2 By Coating Type
5.2.1 Anti-reflective Coating
5.2.2 Scratch-resistant Coating
5.2.3 Anti-fog Coating
5.2.4 UV Protection
5.2.5 Other Coatings
5.3 By Usage
5.3.1 Prescription Glass
5.3.2 OTC Reading Glass
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 United Kingdom
5.4.2.2 Germany
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle-East & Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle-East & Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Carl Zeiss Meditec AG
6.1.2 Essilor International SA
6.1.3 GKB Ophthalmics Ltd
6.1.4 Hoya Vision Care Company
6.1.5 Rodenstock GmbH
6.1.6 Seiko Optical Products Co. Ltd
6.1.7 Vision Ease
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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