Glass Lens Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Glass Lens Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global glass lens market size reached US$ 45.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 56.4 Billion by 2028, exhibiting a growth rate (CAGR) of 3.7% during 2023-2028.

Glass lenses are molded pieces of glass that are widely worn with spectacles to rectify vision impairments. These lenses adjust the amount of light that enters the eye and are available in various forms depending upon the degree of defect in the eye and requirement of the consumer. They also offer protection to the eyes from environmental pollutants such as debris, wind and UV rays. The consumers also have the option of adding different kinds of coatings on the lens such as anti-reflective, blue-light reduction, scratch-resistant and UV protection, that assists them in customizing it to a greater extent. Besides this, glass lenses are preferred by users of all age groups as they require significantly less maintenance and reduce the risk of infections, in comparison to other vision correcting alternatives.

Growing geriatric population is one of the key factors driving market growth. The life expectancy has experienced an increase across the globe owing to the development of advanced healthcare facilities, including improved medicines and a shift from acute to chronic diseases. This has led to the frequent occurrence of vision loss, which is one of the most common ophthalmological concerns among the elderly, along with other eye-related ailments such as diabetic retinopathy, glaucoma, cataract and macular degeneration. Moreover, increasing digital literacy with the growing trend of digitalization is also contributing significantly to the market growth. Digital literacy refers to an individual’s ability to comprehend and analyze information and related attributes on digital platforms. With the concept of digitalization seeping through every aspect of an individual’s daily life, there is a continual interaction taking place with digital devices such as laptops and mobile phones. Consequently, the occurrence of visual dysfunctions, such as myopia, hyperopia and presbyopia, at an early age has become common. This has also led to the prolific growth of the e-commerce eyewear industry as manufacturers are launching innovative eyewear products with a wide variety of glass lenses and benefits such as fast delivery, virtual try-on and competitive prices.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global glass lens market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type, coating and distribution channel.

Breakup by Product Type:

Single Vision Lenses
Progressive Lenses
Bifocal and Trifocal Lenses
Photochromic Lenses
Polarized Lenses
Others

Breakup by Coating:

Anti-Reflective
Blue Light Reduction
Scratch-Resistant
UV Protection

Breakup by Distribution Channel:

Offline
Online

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Essilor International S.A., Hoya Corporation, Eastman Kodak Company, Carl Zeiss Inc., Fielmann AG, Nikon Corporation, Seiko Holdings Corporation, Luxottica Group S.p.A., Shanghai Conant Optics Company, JiangSu HongChen Optical Company, etc.

Key Questions Answered in This Report:

How has the global glass lens market performed so far and how will it perform in the coming years?
What are the key regional markets in the global glass lens industry?
What has been the impact of COVID-19 on the global glass lens industry?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the coating?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the global glass lens industry?
What are the key driving factors and challenges in the global glass lens industry?
What is the structure of the global glass lens industry and who are the key players?
What is the degree of competition in the global glass lens industry?
What are the profit margins in the glass lens industry?