Global Eyewear Market to Reach US$130.0 bn by 2018 with Uptick in Vision Correction Needs

Transparency Market Research, a global market intelligence consultancy, has published a market study on the global eyewear market for the 2012-2018 period. The report says that the global eyewear market will reach a valuation of US$130.0 bn by 2018, increasing from its valuation of US$81.0 bn in 2011. The volume of the global eyewear market was estimated at more than 2,600 million units in 2011 and will register a CAGR of 3.7% from 2012 to 2018. The title to the report is, “Eyewear Market (Spectacles, Contact Lenses, Plano Sunglasses) - Global Industry Analysis, Size, Share, Growth and Forecast 2012 – 2018”.

The increasing number of individuals that use eyewear for vision correction is the strongest factor driving this market. In addition, the need to purchase new lenses due to recommended replacement cycles and changes in lens prescription is fuelling the market’s growth.

On the basis of product, contact lenses, spectacles, and plano sunglasses are the main segments of the global eyewear market. Of all, spectacles dominate the global market for eyewear. In 2011, the valuation of the spectacles segment stood at US$63.0 bn and the segment is expected to display extensive growth during the forecast years. An increasing number of individuals using spectacles for vision correction is the reason for this.

Apart from this, the market for contact lenses is also examined in this report. The contact lenses segment will exhibit a remarkable growth during the forecast period due to the increasing awareness and ease of use of these products.

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The report segments the global eyewear market into four broad geographical regions, namely North America, Europe, Asia Pacific, and Rest of the World. North America was the largest regional market for eyewear in 2012, with a share of more than 30% in the global market in the year. In North America, the demand for contact lenses and sunglasses is on a consistent rise, thereby stimulating the market’s development.

In terms of revenue, in 2011, Europe held a share of close to 40% in the global market, taking the position of the top gainer for that year, adds the report. However, Asia Pacific is expected to display the fastest growth at a CAGR of 9.0% for the 2012-2018 period. The high population density in the countries in this region and increasing usage of eyewear is the reason for this. In Asia Pacific, China and India will emerge as the largest markets for eyewear during the forecast horizon.

The research report provides a competitive profiling of some of the Major Companies that operate in the global eyewear market. CIBA Vision Inc., Johnson &Johnson Vision Care, Safilo, Carl Zeiss, De Rigo, Vision Express. Bausch & Lomb, Marchon Eyewear, Luxottica, CooperVision, Fielmann, Specsavers, Essilor Int., and Hoya Corp. are the top companies that operate in the global market. These companies have expertise in specific product segments. Johnson & Johnson, CooperVision, CIBA vision, and Bausch & Lomb dominate in the contact lenses product segment, whereas Carl Zeiss and Essilor dominate the market in the spectacles segment. Safilo and Luxottica lead the plano sunglasses market, according to the study.

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This release was published on openPR.