New York, United States, Mon, 31 Jul 2023 06:25:49 / Comserve Inc. / -- The global eyewear market is anticipated to grow with a CAGR of ~7% over the forecast period, i.e., 2023-2033.
Research Nester published a report titled “Eyewear Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global eyewear market in terms of market segmentation by product type, distribution channel, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global eyewear market is anticipated to grow with a CAGR of ~7% over the forecast period, i.e., 2023-2033. The market is segmented by product type into spectacles, sunglasses, and contact lens. Out of these segments, the spectacles segment is anticipated to garner the highest revenue by the end of 2033.
The global eyewear market is estimated to garner a revenue of ~USD 200 billion by the end of 2033, up from a revenue of ~USD 100 billion in the year 2022. Growing prevalence of cataract disease, growing geriatric population, and high demand for sunglasses are some of the major factors estimated to drive the growth of the market.
Geographically, the global eyewear market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Amongst these regions, the market in Europe region is expected to hold the largest revenue by the end of 2033.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Prevalence of Cataract Disease to Boost Market Growth
In 2019, there were approximately 1250 cataract-related vision impairment cases globally, up by nearly 55% from the previous year's 790 cases.
Using eyewear is essential following cataract surgery. While many people notice a noticeable improvement in their vision, some might require some sort of eyewear. People are uncomfortable in some way even before surgery. Therefore, eyewear is employed to relieve that discomfort. As a result, it is anticipated that during the forecast period, this aspect will fuel market expansion.
However, high price of eyewear, presence of counterfeit products, and unavailability of eyewear in rural part which are expected to operate as key restraint to the growth of global eyewear market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global eyewear market which includes company profiling of Johnson & Johnson Vision Care, Inc., EssilorLuxottica, CooperVision, Zeiss International, Bausch & Lomb Inc., Safilo Group S.p.A., Charmant Inc., CHEMIGLAS Corp., Alcon Vision LLC, and De Rigo Vision S.p.A. 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 of the global eyewear 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.
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