READING GLASSES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
The global reading glasses market is estimated to be valued at USD 47.68 Bn in 2024. The market is expected to reach USD 71.45 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031. The global reading glasses market has witnessed significant growth in the last few years owing to the rapid increase in the aging population worldwide and rising prevalence of presbyopia. Presbyopia is the progressive inability of the eyes to focus on nearby objects with age, leading to blurred vision. As per 2023 statistics by the WHO, over a billion people suffer from near-vision impairment globally and approximately 170 million cannot undertake their near work responsibilities clearly without glasses. Furthermore, lifestyle changes, rising digital screen usage, and increased strain on eyes have accelerated the onset of presbyopia at an earlier stage among young adults. All these factors have triggered the demand for reading glasses for clear near vision. Advancements in lens technology including anti-reflective, anti-scratch, and blue light filtering coating have also bolstered the adoption of reading glasses.
Market Dynamics:
The global reading glasses market is primarily driven by the growing geriatric population globally. As per Older people tend to develop presbyopia at a higher rate which fuels the sales of reading glasses. However, high adoption of vision correction surgeries such as consumers shifting towards daily disposable contact lenses are restraining the market growth. Meanwhile, increasing innovation in frames and lens material and rising awareness about long-term vision care through social media marketing offers lucrative opportunities. For instance, introduction of lightweight titanium and memory metal frames enhances the comfort of reading glasses.
Key Features of the Study:
- This report provides in-depth analysis of the global reading glasses market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global reading glasses market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include EssilorLuxottica, Johnson & Johnson Vision Care, Safilo Group S.p.A., Hoya Corporation, CooperVision, Warby Parker, Zenni Optical, Foster Grant, EyeBuyDirect, Maui Jim, Ray-Ban, Oakley, Inc., and Nikon Corporation
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global reading glasses market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global reading glasses market
Market Segmentation
Table of Contents
*Browse 32 market data tables and 28 figures on 'Global Reading Glasses Market' - Global forecast to 2031
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