Europe Prescription Spectacles Market to be moderately Impacted in Short Term Owing to COVID-19

There are several types of prescription eyeglasses, such as single vision, multifocal, bifocal, progressive, etc. Single vision prescription spectacles are used to correct vision problem such as astigmatism, farsightedness (hyperopia), and nearsightedness (myopia). People who have more than one vision problem often need eyeglasses with multifocal lenses. During an eye examination, doctors help choose the right eyeglasses according to the vision needs.

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Drivers:

Increasing cases of visual impairments and increasing demand for prescription spectacles in Europe is expected to propel growth of the Europe prescription spectacles market over the forecast period. For instance, around 63% people in Germany and 70% in the United Kingdom wear glasses, according to the Association for Research in Vision and Ophthalmology.

Moreover, growing geriatric population across Europe, especially in the U.K. and Germany, is expected to augment the growth of the Europe prescription spectacles market. For instance, in the U.K., geriatric population (people aged 65 years and over) is expected to reach 15.2 million in 2030 from 12.5 million in 2019, while in Germany, to 21.8 million in 2030 from 18 million in 2019.

Restraint:

Rising acceptance of other vision corrective alternatives, such as surgical procedures to correct visual impairments, is expected to impede growth of the Europe prescription spectacles market.

Opportunities:

Increasing popularity of Internet-based sales transactions due to the widespread adoption of e-commerce is expected to generate significant growth opportunities for the market.

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Competitive Section:

Key players involved in the Europe prescription spectacles market are Full Power, ThinTech Materials, Leed, Kaiyuan Minsheng, Tehsun, Hoyi Tech, Toyo Aluminium, Monocrystal, Giga Solar, Rutech, Xi'an Hongxing, DuPont, and Wuhan Youleguang.

In October 2020, Essilor launched Stellest Lens, a new-generation of spectacle lens solution in the fight against myopia.

In April 2020, Material, a provider of eye care and eyewear in Europe, launched the online sales of prescription eyeglasses.

In February 2020, Safilo Group announced the acquisition of a 61.34% equity interest in the U.S. based Prive Revaux. In 2018, Prive Revaux launched prescription lenses at an affordable price and planned to offer online vision tests and optical collection with RX capabilities.

In January 2020, Rodenstock launched new collection of spectacles to take advantage of the opportunity provided by the increasing demand for innovative products in Europe.

In January 2017, Dunelm Optical launched its sunglasses collection that features a total of 35 prescription sunglasses.

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