According to the report, the eyewear market size is predicted to be worth USD 178.95 billion by the end of 2026 from USD 115.90 billion in 2018. The forecast period is set from 2019 to 2026 and the market is expected to exhibit a CAGR of 5.7%. With respect to product type, the market will be dominated by the spectacles segment owing to the rising prevalence of eye disorders such as hypermetropia and myopia.
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Highlights of the Report:
- In-depth analysis of various insights, namely, Eyewear Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and Eyewear Market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
Key Players Operating in The Eyewear Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Fielmann AG
- Johnson & Johnson Services, Inc.
- Alcon (Part of Novartis AG)
- Safilo Group S.p.A
- Bausch Health Companies Inc.
- Carl Zeiss
- Other Prominent Players
Rise in Prevalence of Ocular Diseases to Drive Market
Eyewear comprises of accessories and items that can be worn over the eyes. They are used for various purposes, such as for protection against environment, embellishment or fashion purpose, or for enhancing or improving vision. Eyewear products are basically in the form of contact lenses, sunglasses, and spectacles. In addition, they help to protect against UVB and UVA sun rays and aid to treat ocular diseases such as short or long-sightedness, and others. Rise in the availability of spectacles in online channels and retail stores from both developing and developed nations is expected to increase the demand for higher-value sunglasses. The surge in brand advertising has urged consumers to become brand conscious, thus adding a boost to eyewear market growth. Rise in the geriatric population and their vulnerability towards eye disorders, infections, and diseases will promote the use of spectacles and contact lenses. This, in turn, is prognosticated to increase the eyewear market share in the forthcoming years.
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North America to Continue Dominance Owing to Presence of Increasing Awareness about Eye Problems
The global eyewear market is geographically segmented into five regions namely Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. In 2018, North America generated an eyewear market revenue of USD 35.60 billion and dominated the market. This domination is attributable to factors such as a rise in awareness about ocular disorders, and preference for premium eye care products. On the other side, Europe eyewear market will rise at a remarkable rate owing to an increase in affordability to buy expensive sunglasses in nations such as UK, France, and Germany.
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Introduction of New Products / Approvals (by Major Players)
- Epidemiology of Ocular Disease – For Key Countries, 2018
- Key Industry Developments – Mergers, Acquisitions, and Partnerships, 2018
- Snapshot: U.S. Reading Glasses Market
- Key Trends in the Eyewear Market
- Global Eyewear Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Contact Lens
- Market Analysis, Insights and Forecast – By Distribution Channel
- Retail Store
- Online Store
- Ophthalmic Clinics
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Reasons to Purchase this Report:
- Comprehensive analysis of the Eyewear Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
KEY QUESTIONS ANSWERED:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Eyewear Market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
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