Reading Glasses Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Reading Glasses Market

The reading glasses market size was valued at USD 34.93 billion in 2018, and the market is now projected tgrow USD 73.50 billion in 2032 exhibiting a CAGR of 5.0% during the forecast period of 2019-2032.

The spread of COVID-19 affected the Reading Glasses Market in a way, both negative and positive; there were shutdowns in manufacturing and selling processes. Nevertheless, the number of digital tools and devices following the COVID-19 pandemic arose the need for reading glasses due teye problems like strain. Due tincreased screen time, the need for vision correction was more evident driving the market further. Also, the more that people resorted tshopping online during the pandemic, this made it convenient tbuy reading glasses. It has since however returned as people have become more conscious on eye health.

Another parameter fueling the Reading Glasses Market is the increase of the aging population with the concentration focusing on consumers over the forty years, as presbyopia and other ocular diseases develop. According tthe world population prospect’s report of United Nations, the people age 60 and above will be 2 billion in 2050 thus the demand for vision correction will alssurge. The lack of physical activity and a constantly increasing role of digital devices that necessarily implies the excessive strain on the eyesight and presbyopia alscontributes tthe need in reads glasses. Presbyopia affected 1.8 billion individuals worldwide in 2015 and 45% of them did not correct it. The information mentioned above is said tfuel the market for reading eyeglasses during the forecast period.

Ever before, consumers wanted trendy reading glasses, and this includes designs like cat-eye, double-bridge, frames that fit face shapes, and more. The relative complexity of the frame designs is another trend that is clearly observable in the market. Also, the frames’ modern materials like polycarbonate, titanium, and stainless steel, have increased the product’s durability and aesthetics when used in reading glasses. These are likely tincrease the need for stylish and quality reading glasses in the market as earlier predicted. The market is expected tremain on an upward trend as consumers can appreciate functional value of the glasses as well as the aesthetics of the gear.

Comprehensive Analysis of Reading Glasses Market

The reading glasses market growth is rising at an exponential rate due tits market segmentation. This market expansion rightly provides a thorough market breakdown near tthe industry considering the leading supply and demand forces. These segmentations are methodically segregated by age group analysis, by type analysis and by distribution channel analysis. By age group analysis includes less than 18 years, 18-64 years, and 65 years above. By type analysis includes prescription reading glasses and OTC reading glasses. By distribution channel analysis includes retail stores, online sales channels, and ophthalmology clinics.

The North America region lead the reading glasses market share by benefitting a market size of USD 14.32 billion in 2018 due tits advanced healthcare infrastructure.

The top players in the markets have a central responsibility in the healthcare industry tbe sure of industrial prospectus development and testablish the market norms. These players include, Bausch & Lomb Incorporated, EssilorLuxottica, Carl Zeiss, Johnson & Johnson Services, Inc., Hoya Corporation, De RigVision S.p.A., ZENNI OPTICAL, INC., and ThinkOptic Inc. these market players provide a level-playing competitive landscape.

In June 2019, FGX International collaborated with Restoring Vision tlaunch the first Reading Glasses Day on June 7, aiming traise awareness about the lack of access treading glasses in developing countries and their impact on people's lives.

Segmentation Table

ATTRIBUTE DETAILS

Study Period - 2015-2026

Base Year - 2018

Forecast Period - 2019-2026

Historical Period - 2015-2017

Unit - Value (USD billion)

Segmentation By Age Group

• Less than 18 years
• 18-64 years
• 65 years and Greater

By Type

• Prescription Reading Glasses
• OTC Reading Glasses

By Distribution Channel

• Retail Stores
• Online Sales Channels
• Ophthalmology Clinics

By Geography

• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

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