(PharmaNewsWire.Com, January 07, 2021 ) Eyewear is a device used for protection from harmful UV lights or correction of vision. As rising eye problems among teenagers and cataract problems for aged peoples, including elders with presbyopia and myopia drive the value growth for eyewear globally. Asian countries such as India and China are the leading countries in the global eyewear marketplace. The adoption of digital tools, such as virtual try-on and tele-optometry, through which eye test is done nowadays, is the factors accelerating the e-commerce delivery platform's growth. There is a rise in the growth of premium brands as the belief of quality products and attractive designs boost the eyewear industry's growth. According to Renub Research, the global eyewear market will surpass US$ 150.43 Billion by the end of the year 2026.
In this report, the global eyewear market is segmented into spectacles, sunglasses, contact lenses and eyewear frame. The spectacles segment further divided into frames and lens. Sunglasses have been segmented into Plano and prescription sunglasses. Contact lenses are divided into two parts multifocal and sphere. Moreover, Spectacles lenses market has projected to maintain its dominating position at the end of the forecast year. This market trend has owed to the increasing prevalence of hypermetropia and myopia.
Over the last years, many leading international companies influence various distribution channels, particularly online retailing, to drive market penetration over the traditional store. There are many products in women’s eyewear (heavy trendy eyeglasses, vintage round glasses and hipster silhouettes) are trending in the market. In men’s eyewear (gold metal eyeglasses, Dark Lenses, Wayfarers and Classic Aviators) are increasing the market demand. International leading luxury brands like Giorgio Armani, Cartier, Prada, and Gucci have started selling their premium eyewear products globally.
In recent years, the advancement of technology, such as eye check-up through computer or smartphone by medical professionals and the rising prevalence of eyesight and vision deficiencies, will drive eyewear market growth in the forecast period. Covid-19 addresses evolving challenges for the eyewear industry due to lockdown. People are more concerned about purchasing a product through stores and shopping malls because of shape and size, and other hands have disrupted manufacturing and supply chain management.
Global eyewear market is likely to bounce back well from 2021 onwards as spectacles and contact lenses will benefit from their value as medical devices. However, it eases the users to see and therefore, to function better daily. The global eyewear industry's significant challenges were that the market was broadly insulated by increasing consumer price sensitivity. Thus, the consumer purchases these things through their entire life savings where possible throughout the forecast period.
Renub Research report titled “Global Eyewear Market By Product (Spectacle Lenses, Sunglasses, Frames and Contact Lenses), Distribution Channel (Offline and Online), End Users (Men, Women, and Unisex), Regions (North America, Europe, Asia-Pacific and Rest of World), Merger & Acquisitions, Company Analysis (Luxottica Group SpA, Safilo Group S.p.A., Essilor International S.A., De Rigo Vision S.p.A., and Fielmann AG)" This report provides an all-encompassing analysis on the global eyewear market Industry.
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