The Global Eye Wear market is majorly uplifted by increasing ophthalmic disorder across the globe and emerging e-commerce eye care services according to our research report “Global Eye Wear Market Outlook 2024”. Regionally, the eye wear market is segmented into North America, Europe, Asia-Pacific and Rest of World (ROW). Among these, Europe is anticipated to witness a significant growth and occupy the largest share of the eye wear market by 2023.
Global eye wear market stood at USD 100 billion in 2015; the market is estimated to reach around USD 180 billion by the end of 2024 witnessing a CAGR of 7% over the forecast period i.e. 2017-2024. In terms of volume, the global market stood at 2.7 billion unit sales in 2016 further the market is anticipated to reach around 3.92 billion units by the end of 2024.
In 2016, Europe held a dominant share of 45% in the global eye wear market and spectacles segment dominated the product segment of eye wear market due to its long durability, spectacles segment is anticipated to expand with a compound annual growth rate of 7.2% over the forecast period.
Increasing Ophthalmic Disorder across the Globe: Momentum
With increasing aging population, the number of people suffering from eye disorder has increased in a significant way. The increasing prevalence of age-related macular degeneration will further propel the demand for corrective eye wear across the globe. Young generation is more exposed to ophthalmic problems due to spending most of the time in front of screens.
Emerging E-Commerce Eye Care Services: Momentum
Evolving e-commerce companies such as lenskart.com are proposing attractive cost-effective deals in order to grab the market; the increasing competition among market key players is anticipated to bring down the prices of eye wear, this will further impulse the demand of eye wear over the forecast period.
The report titled “Global Eye Wear Market Outlook 2024” delivers detailed overview of the eye wear market in terms of market segmentation by product, by material, by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the eye wear industry which includes company profiling of Novartis International AG, STAAR Surgical, Abbott Medical Optics, Inc., Valeant Pharmaceuticals, Carl Zeiss AG. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview on the global eye wear market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.