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Global Spectacle Lens Market to reach USD 64 billion by 2027.

Global Spectacle Lens Market Size study, by Type (Single Vision, Bifocal, Trifocal, Progressive), by Coating Type( Anti-reflective Coating, Scratch-resistant Coating, Anti-fog Coating, UV Protection, Other Coatings), by Usage( Prescription Glass, OTC Reading Glass)and Regional Forecasts 2021-2027

Product Code: OIRCGS-81097612
Publish Date: 2-09-2021
Page: 200

Global Spectacle Lens Market is valued at approximately USD 45.3 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.03 % over the forecast period 2021-2027. Lenses are transmissive optical devices that use the mechanism of refraction to focus a ray of light. Simple and compound lenses are constructed of transparent material and are divided into two categories. The demand for these devices is increasing as people become more aware of visual impairment conditions and viable vision correction options. Even in industrialized countries, the trend appears to be continuing, owing to variables such as the growing geriatric population and growing need for vision correction. Unaddressed presbyopia, refractive error, cataracts, and others, according to the Laser Eye Surgery Hub, will be the leading causes of vision impairment globally in 2021. Around 2.2 billion individuals worldwide suffer from some sort of vision impairment, as of 2021. In 2020, around 237 million people had moderate or severe distance vision impairment. People are willing to purchase high-quality eyewear owing to rising living standards and increased disposable income. Furthermore, individuals are now opting for contemporary and designer sunglasses in line with current market trends. Young people choose to wear contact lenses to enhance their overall appearance. As a result, rising living standards and heightened fashion awareness will help the growth of the eyewear market, favorably impacting market growth. Consumers suffering from myopia and presbyopia are experiencing an increase in refractive errors, which is driving up demand for spectacle lenses in the market. These are primarily caused by bad food habits and lifestyle mistakes. People who spend a lot of time on digital devices such as laptops, cellphones, and other such gadgets are more likely to visit an ophthalmologist for spectacle lenses. These are the primary factors that have contributed to the industry’s enormous expansion. However, poor quality of lens in bulk manufacturing orders may impede market growth over the forecast period of 2021-2027.

The regional analysis of the Global Spectacle Lens Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World (ROW). North America is the leading region across the world in terms of market share due to rising prevalence of vision impairment caused by increased use of computers, laptops, smartphones, and other gadgets in the region. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to high prevalence of myopia among children and young adults

Major market player included in this report are:

Carl Zeiss Meditec AG
Essilor International SA
GKB Ophthalmics Ltd
Hoya Vision Care Company
Rodenstock GmbH
Seiko Optical Products Co. Ltd
Nikon Corporation
Warby Parker
Titan Company Limited
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Single Vision
By Coating Type:
Anti-reflective Coating
Scratch-resistant Coating
Anti-fog Coating
UV Protection
Other Coatings
By Usage:
Prescription Glass
OTC Reading Glass
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018,2019
Base year – 2020
Forecast period – 2021 to 2027.

Target Audience of the Global Spectacle Lens Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Spectacle Lens Market , by Region, 2019-2027 (USD Billion)
1.2.2. Spectacle Lens Market , by Type, 2019-2027 (USD Billion)
1.2.3. Spectacle Lens Market , by Coating Type, 2019-2027 (USD Billion)
1.2.4. Spectacle Lens Market , by Usage, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Spectacle Lens Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Spectacle Lens Market Dynamics
3.1. Spectacle Lens Market Impact Analysis (2019-2027)
3.1.1. Market Drivers Growing demand for vision correction in the age of digitalization Increasing prevalence of optical disorders
3.1.2. Market Restraint Poor quality of lens
3.1.3. Market Opportunities Rising living standards and growing fashion trend
Chapter 4. Global Spectacle Lens Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Spectacle Lens Market , by Type
5.1. Market Snapshot
5.2. Global Spectacle Lens Market by Type , Performance – Potential Analysis
5.3. Global Spectacle Lens Market Estimates & Forecasts by Type 2018-2027 (USD Billion)
5.4. Spectacle Lens Market , Sub Segment Analysis
5.4.1. Single Vision
5.4.2. Bifocal
5.4.3. Trifocal
5.4.4. Progressive
Chapter 6. Global Spectacle Lens Market , by Coating Type
6.1. Market Snapshot
6.2. Global Spectacle Lens Market by Coating Type, Performance – Potential Analysis
6.3. Global Spectacle Lens Market Estimates & Forecasts by Coating Type 2018-2027 (USD Billion)
6.4. Spectacle Lens Market , Sub Segment Analysis
6.4.1. Anti-reflective Coating
6.4.2. Scratch-resistant Coating
6.4.3. Anti-fog Coating
6.4.4. UV Protection
6.4.5. Other Coatings
Chapter 7. Global Spectacle Lens Market , by Usage
7.1. Market Snapshot
7.2. Global Spectacle Lens Market by Usage, Performance – Potential Analysis
7.3. Global Spectacle Lens Market Estimates & Forecasts by Usage 2018-2027 (USD Billion)
7.4. Spectacle Lens Market , Sub Segment Analysis
7.4.1. Prescription Glass
7.4.2. OTC Reading Glass
Chapter 8. Global Spectacle Lens Market , Regional Analysis
8.1. Spectacle Lens Market , Regional Market Snapshot
8.2. North America Spectacle Lens Market
8.2.1. U.S. Spectacle Lens Market Type breakdown estimates & forecasts, 2018-2027 Coating Type breakdown estimates & forecasts, 2018-2027 Usage breakdown estimates & forecasts, 2018-2027
8.2.2. Canada Spectacle Lens Market
8.3. Europe Spectacle Lens Market Snapshot
8.3.1. U.K. Spectacle Lens Market
8.3.2. Germany Spectacle Lens Market
8.3.3. France Spectacle Lens Market
8.3.4. Spain Spectacle Lens Market
8.3.5. Italy Spectacle Lens Market
8.3.6. Rest of Europe Spectacle Lens Market
8.4. Asia-Pacific Spectacle Lens Market Snapshot
8.4.1. China Spectacle Lens Market
8.4.2. India Spectacle Lens Market
8.4.3. Japan Spectacle Lens Market
8.4.4. Australia Spectacle Lens Market
8.4.5. South Korea Spectacle Lens Market
8.4.6. Rest of Asia Pacific Spectacle Lens Market
8.5. Latin America Spectacle Lens Market Snapshot
8.5.1. Brazil Spectacle Lens Market
8.5.2. Mexico Spectacle Lens Market
8.6. Rest of The World Spectacle Lens Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Carl Zeiss Meditec AG Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Essilor International SA
9.2.3. GKB Ophthalmics Ltd
9.2.4. Hoya Vision Care Company
9.2.5. Rodenstock GmbH
9.2.6. Seiko Optical Products Co. Ltd
9.2.7. Nikon Corporation
9.2.8. Warby Parker
9.2.10. Titan Company Limited

Chapter 10. Research Coating Type
10.1. Research Coating Type
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

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Data Collection:
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Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
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Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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