Spectacle Lense Market 2021 Growing Demand, Size and Business Outlook- Essilor International, Johnson & Johnson, CooperVision Inc, Hoya Corporation, Carl Zeiss AG

Spectacle Lense Market 2021 report helps the clients to take business decisions and to understand strategies of major players in the industry. The report also calls for market- driven results deriving feasibility studies for client needs. Market Insights Reports ensures qualified and verifiable aspects of market data operating in the real- time scenario. The analytical studies are conducted ensuring client needs with a thorough understanding of market capacities in the real- time scenario.

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Spectacle Lense Market was valued at USD 45,395 million in 2020, and it is expected to reach USD 61,124 million by 2026, registering a CAGR of 5.08% during the forecast period

Markets Segmentation:

Top leading Companies Profiled in Spectacle Lense Market Report are Essilor International, Johnson & Johnson, CooperVision Inc, Hoya Corporation, Carl Zeiss AG, Bausch & Lomb Inc, Alcon, Inc.

News and Updates

Snap announces new features of Lenses, Spectacles and new monetisation opportunities for creators- Snap has announced new features for Lenses, monetisation tools for AR creators and new features for Spectacles during the ongoing Lens Fest.

Essilor launches new spectacle lens for children- Essilor has launched a new lens for children that aims to enhance the visual comfort of young spectacle wearers.

Xiaomi launches its own smart glasses, of course- Xiaomi is challenging Facebook in the wearables arena by launching its own smart glasses. The device won’t only be capable of taking photos, but also of displaying messages and notifications, making calls, providing navigation and translating text right in real time in front of your eyes. Like Facebook, Xiaomi is also putting emphasis on the device’s lightness despite its features. At 51 grams, though, it’s a bit heavier than the social network’s Ray-Ban Stories. In addition, the glasses also has an indicator light that shows when the 5-megapixel camera is in use.

Market Overview

Prescription glasses refer to spectacles whose lenses have been made specifically to match the wearer's defects of vision. The purpose of prescription glasses is to correct or improve the vision of people with nearsightedness ( myopia ), farsightedness (hyperopia), presbyopia, and astigmatism. As per World Health Organization (WHO), in 2020 approximately 2.6 billion people worldwide have myopia, or nearsightedness. This number is projected to reach 3.3 billion by 2030. The rising incidences of refractive errors in consumers, due to myopia and presbyopia, are increasing the demand for spectacle lens in the market

North America is expected to dominate the market. The United States (US) and Canada have developed and well-structured healthcare systems. As a result, these countries enjoy the presence of many global market players.

As per Vision Council of America, in 2018 there were around 194.1 million adult vision correction users in the United States, and around 164 million adults in the United States were using eyeglasses. Moreover, owing to the constant increase in the elderly population in the United States, as well as a shift toward vision correction usage among key demographics, an absolute increase in the usage rates for most types of eyewear has been observed in the country. A number of companies that are based in the country have been playing major roles in the spectacle lens market. In 2018, Privé Revaux, the affordable celebrity eyewear brand, has announced that it will expand its offerings to include prescription eyewear. Hence, all the aforementioned factors are expected to propel the growth of the spectacle lens market.

Ophthalmology has witnessed a dip of approximately 30% in the regular patients in the pandemic. As per the Centers for Disease Control and Prevention and the American Academy of Ophthalmology, there was a nearly 80% initial decrease in ophthalmology visits, and by mid-June, there was a cumulative decrease in ophthalmology visits by 40% in the United States.

Market Segmented By Types

Single Vision Spectacle Lenses

Progressive Lenses

Market Segmented By Applications

Hospitals

Ophthalmology Clinics

Household

Others

Regional Analysis:

Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Malaysia, and Others), North America (United States, Canada, and Mexico), Central & South America (Brazil, and Rest of South America), Europe (Germany, France, UK, Italy, Russia, and Rest of Europe), Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa and Other)

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Key Takeaways from Spectacle Lense Report

─Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals

─Understand the different dynamics influencing the Spectacle Lense market – key driving factors, challenges and hidden opportunities.

─Get in-depth insights on your competitor performance – Spectacle Lense market shares, strategies, financial benchmarking, product benchmarking, SWOT and more

─Analyze the sales and distribution channels across key geographies to improve top-line revenues.

─Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

─Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.

─Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the Spectacle Lense

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In conclusion, the Spectacle Lense market report presents the descriptive analysis of the parent market supported elite players, present, past and artistic movement information which is able to function as a profitable guide for all the Spectacle Lense Industry business competitors. Our expert research analyst’s team has been trained to provide in-depth market research reports from every individual sector which will be helpful to understand the industry data in the most precise way.

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