Global Prescription Lens Market – Industry Trends and Forecast to 2029

Prescription Lens Market Analysis and Size

The global prescription lens market is expected to witness significant growth during the forecast period. Patients with refractive error are unaware of the condition and are not treated. According to the World Health Organization (WHO), URE accounted for 42.0% of the world's visual impairments in 2012. The increase in cases of visual impairment as a result of refractive error (mainly astigmatism and myopia) and the resulting increase in uncorrected refractive error (URE) in patients will drive profit growth in the next global prescription lens market. This is the main factor that is expected.

Data Bridge Market Research analyses a growth rate in the global prescription lens market in the forecast period 2022-2029. The expected CAGR of global prescription lens market is tend to be around 4.6% in the mentioned forecast period. The market was valued at USD 37.42 billion in 2021, and it would grow upto USD 53.62 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Prescription sunglasses are very much useful in protecting the eyes from the harmful ultraviolet rays that can cause permanent damage to the eyes. These glasses help resolve the issue of projecting the light on the retina for enhanced vision due to its feature of different shapes and coatings. Increasing acceptance and the rising usage of eyewear products alongwith prescription eyewears is a growth factor for the market.

Prescription Lens Market Scope and Segmentation

Global Prescription Lens Market Dynamics

Drivers

• Increasing cases of refractive error cases

Demand for prescription lenses is expected to increase, mainly due to the increased prevalence of refractive errors such as myopia and astigmatism. Prescription lenses help solve the eye's lack of ability to project light onto the retina to improve vision. These lenses come in a variety of shapes and coatings and are recommended based on the order of refraction. Convex lenses are used to correct hyperopia, concave lenses are used to correct myopia, and cylindrical prescription lenses are used to correct astigmatism.

• Effective advanced technology

People who work long hours in front of a computer have various eye problems. Therefore, companies can develop advanced techniques to improve prescription lenses and protect people from the harmful radiation of computers. GUNNAR Optiks offers correction lenses specially developed for computer use. These lenses are developed along with other lens technologies using blue light blocking technology. The development of such technologically advanced prescription lenses will contribute to the growth of the entire market.

Opportunities

• Developing living standards and fashion sense

The younger generation is investing in fashionable sunglasses. This target group focuses on newly designed sunglasses to accentuate the look. Therefore, fashion awareness and a higher standard of living are expected to create opportunities in the global prescription lens market in the near future.

• Prevalence of Software

The rising occurence of software which provide a useful metric for benchmarking, case management, analytics, care coordination, reporting and others are the primary factors which will further bring several opportunities for the growth of the prescription lens market in the above mentioned forecast period.

Restraints/Challenges

• Lack of skilled professionals

The lack of qualified personnel who are unable to provide accurate diagnosis of lenses could curb the growth of the global prescription lens market over a forecast period of 2022 to 2029.

• High Cost

High cost of these lenses can hinder the growth of the global prescription lens market even though the prevalence of the patients are high.

This prescription lens market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the prescription lens market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Prescription Lens Market Scope

The prescription lens market is segmented on the basis of delivery mode, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Single Vision
• Bifocal
• Trifocal
• Progressive
• Workspace Progressive
• Others

Application

• Myopia
• Hyperopia/Hypermetropia
• Astigmatism
• Presbyopia

Lens-Coating

• Anti-reflective
• Scratch Resistant Coating
• Anti-Fog Coating
• Ultraviolet Treatment

Prescription Lens Market Regional Analysis/Insights

The global prescription lens market is analysed and market size insights and trends are provided by delivery mode, application and end-user as referenced above.

The major countries covered in the prescription lens market are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is dominating the prescription lens market due to the rising prevalence of myopia and presbyopia in developing countries. Major market players dominate the region and establish prescription lens with much advanced features.

Meanwhile, the Asia-Pacific region is considered to have the most lucrative growth in the prescription lens market due to the growing prevalence of the refractive errors in the region. 

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Global Prescription Lens Market Share Analysis

The prescription lens market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to prescription lens market

Key players operating in the global prescription lens market include:

• De Rigo (Italy)
• Essilor (France)
• LUXOTTICA GROUP PIVA (U.S.)
• Marchon Eyewear, Inc. (U.S.)
• Marcolin SpA. (Italy)
• Safilo Group S.p.A. (Italy)
• Pivothead (U.S.)
• Specsavers (U.S.)
• CHARMANT USA Inc (U.S.)
• XIAMEN ASA SUNGLASSES CO., LTD. (China)
• ZEISS International (India)
• Hoya Vision Care Company (U.S.)
• Privé Revaux (U.S.)
• Seiko Optical Products Co., Ltd. (U.S.)

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