The latest report published by Report Ocean, titled “Reading Glasses Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023 to 2031,” offers a comprehensive assessment of the industry, including valuable insights into market trends. The report encompasses competitor and regional analysis, as well as the latest developments in the market. It serves as an excellent resource for investors, researchers, consultants, marketing strategists, and anyone planning to enter the market in any capacity.
Reading Glasses Market is valued at approximately USD 41.12 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.6% over the forecast period 2022-2029. Reading glasses are the sort of eyewear that is used to help with vision when a person is unable to read the text clearly. This is attributed to a wide range of ocular conditions, including presbyopia, astigmatism, hyperopia, and others. The rising prevalence of various ocular disorders, coupled with the surging demand for trendy designs and branded products among the young population are some prominent factors that are fueling the market demand across the globe.
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The increasing ageing population is directly associated with the demand for reading glasses because it causes eye degeneration or visual impairments that include difficulty seeing small print or objects clearly. The World Health Organization estimates that by 2050, there are around 2 billion people in the world who are 60 years of age or older, which is a rise from 900 million in 2015. In addition, presbyopia is becoming more common in adults at a substantial rate. According to American Academy of Ophthalmology, it was estimated that 1.8 billion persons worldwide (about 25%) had presbyopia in 2015. Accordingly, the overall unmet requirement for presbyopia correction among them was 45%. Furthermore, it has been widely observed that older persons are more likely to have corneal astigmatism than younger people. Therefore, the escalating geriatric population is exhibiting a positive influence on the growth of the market. Moreover, the growing R&D investment, as well as the increasing availability of products on various online sales channels are presenting various lucrative opportunities over the forecasting years. However, the high cost of frames to slow sales of reading glasses in emerging regions and lack of awareness about ocular disorders are challenging the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Reading Glasses Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the growing awareness regarding eye care products and the presence of key market players across the region. Whereas, the Asia Pacific is also expected to grow with the highest CAGR during the forecast period, owing to factors such as rising target populations, increasing prevalence of presbyopia among the population, and rising launch of products in semi-premium and lower cost range to be affordable to the economically weaker zones.
Major market players included in this report are:
Bausch & Lomb Incorporated.
EssilorLuxottica
Carl Zeiss
Johnson & Johnson Services, Inc.
Hoya Corporation
De Rigo Vision S.p.A.
ZENNI OPTICAL, INC.
ThinOptics, Inc.
Pixel Eyewear
Swanwick
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Recent Developments in the Market:
In February 2022, ZEISS International announced the introduction of a new design Freeform Lens, which offers high optical quality. The solution provided the clear vision that is flat and thin in structure at the advantage of low cost. The objective of this launch is to enhance the product portfolio of the company.
In June 2019, FGX International declared the company’s collaboration with Restoring Vision to launch its first reading glasses with the vision of rising awareness regarding the lack of access to reading glasses in developing countries, and the impact that vision correction with the help of reading glasses has on people’s lives.
Global Reading Glasses Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Age Group, Type, Distribution Channel, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
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 years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential 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 Age Group:
Less than 18 years
18-64 years
65 years and Greater
By Type:
Prescription Reading Glasses
OTC Reading Glasses
By Distribution Channel:
Retail Stores
Online Sales Channels
Ophthalmology Clinics
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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- Identification of attainable suppliers as true as partnerships in the report.
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- The worldwide market looks up file lookup the contemporary world market trends, up-to-date, and thorough aggressive analysis, alongside with pretty a quantity extraordinary key side of the global market.
- The plausible future partners, suppliers, or mates have moreover skillfully been skilled in the report.
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Following Key Questions Covered in the Report Are:
● Comprehensive Evaluation of market carries customers and associations make out systems?
● Impressive Growth factors that are promising importance and constraints in the market?
● What is the current market revenue? What is the extended revenue for 2023-2027?
● What is the driving, restraining, trends, and obstacles, which will influence the estimating and development of Market?
● SWOT analysis of each critical Market key players specified along with their association details.
● What is market growth energy or accelerating market passes the projected forecast?
● Which countries will value the most astonishing share of the complete Fill Light industry in future?
● What Application/end-client categorization or Product Comprise may see incremental advancement expectation?
● What is the size of industry of dynamic countries like (Asia-Pacific, Latin America, Europe, North America, The Middle East and Africa) and so on?
● What major driving factors and imperatives are holding the market consistently?
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