What Has Been the Progress and Growth of the Prescription Lens Market in Recent Years?
The prescription lens market has seen considerable growth due to a variety of factors.
• The prescription lens market has grown robustly in recent years. It will rise from $46.09 billion in 2024 to $49.02 billion in 2025, at a compound annual growth rate (CAGR) of 6.3%.
The growth is driven by increased awareness and diagnosis of vision problems, the popularity of computers and smartphones, a rise in fashion eyewear, and the growth of online retailers offering direct-to-consumer brands.
What Is The Expected Growth In The Prescription Lens Market Size Evolve over the Forecast Period?
The prescription lens market is expected to maintain its strong growth trajectory in upcoming years.
• The prescription lens market is expected to reach $62.14 billion by 2029 at a CAGR of 6.1%.
Growth is driven by increased awareness of eye health, the rise of online retail, disposable income, insurance coverage, urbanization, and screen time. Key trends include augmented reality (AR) and virtual reality (VR) integration, demand for
What Main Forces Are Fueling Expansion In The Prescription Lens Market?
The escalating prevalence of vision disorders is projected to fuel the expansion of the prescription lens market in the future. Vision problems encompass conditions that affect the eyes, varying from common issues such as partial visual impairment and blindness to more severe conditions like macular degeneration. These issues are intensifying due to factors such as higher screen time, use of digital devices, and aging demographics, which contribute to conditions like digital eye stress, myopia, and age-related macular degeneration. Prescription lenses help rectify vision issues like myopia, hyperopia, astigmatism, and presbyopia by bending light to precisely focus on the retina, enhancing visual clarity and minimizing strain. For example, a report from the US-based international research resource, the National Center for Biotechnology Information, stated in May 2023 that nearly 200 million people across the globe were affected by age-related macular degeneration (AMD) in 2020. By 2040, this number is predicted to rise to roughly 288 million. Therefore, the escalating prevalence of vision disorders is boosting the growth of the prescription lens market.
What Are The Primary Segments In The Global Prescription Lens Market?
The prescription lens market covered in this report is segmented –
1) By Type: Single Vision, Bifocal, Trifocal, Progressive, Active, Other Types
2) By Coating: Anti-Reflective, Scratch Resistant Coating, Anti-Fog Coating, Ultraviolet Treatment
3) By Application: Myopia, Hyperopia Or Hypermetropia, Astigmatism, Presbyopia
Subsegments:
1) By Single Vision: Near Vision Lenses, Distance Vision Lenses
2) By Bifocal: Fixed Bifocal Lenses, Adjustable Bifocal Lenses
3) By Trifocal: Fixed Trifocal Lenses, Adjustable Trifocal Lenses
4) By Progressive: Varifocal Lenses, Digital Progressive Lenses
5) By Active: Sports Prescription Lenses, Outdoor Activity Lenses
6) By Other Types: Photochromic Lenses, Blue Light Blocking Lenses
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Which Emerging Market Trends Are Altering The Prescription Lens Industry?
Leading firms in the prescription lens market are innovating myopia management spectacle lenses to meet the burgeoning necessity for practical myopia regulation in youngsters. These unique glasses are engineered to aid in the reduced progression of myopia (shortsightedness) in children and young individuals. For example, in November 2023, Shamir Optical Industry, a firm based in Israel that manufactures optical lenses for eyeglasses, introduced Shamir Optimee, an advanced myopia management spectacle lens aiming to cater to the escalating need for effective myopia regulation, predominantly in children. This ground-breaking lens incorporates Shamir Focusflow's cutting-edge defocus technology, offering a lucid central vertical zone with the child's prescription, facilitating versatile eye movement during close-range vision tasks.
Who Are the Key Players In The Prescription Lens Market?
Major companies operating in the prescription lens market are:
• Johnson And Johnson Inc.
• Essilor Luxottica S.A.
• Carl Zeiss AG
• Seiko Optical Products Co. Ltd.
• Alcon
• Hoya Corporation
• Nikon Corporation
• Bausch And Lomb Incorporated
• The Cooper Companies
• Safilo Group S.p.A
• Marchon Eyewear Inc.
• Rodenstock GmbH
• Menicon Co. Ltd.
• Warby Parker Inc.
• Norville Group Ltd.
• De Rigo Vision S.p.A.
• ABB Optical Group
• Walman Optical
• Oakley Inc.
• Younger Optics
• Maui Jim Inc.
• Charmant Group Inc.
• Thom Browne Eyewear LLC
• Vision Ease Corporation
• Zenni Optical LLC
What Is The Most Dominant Region In The Prescription Lens Market?
North America was the largest region in the prescription lens market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the prescription lens market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
