LONDON--(BUSINESS WIRE)--The eyeglasses market size is expected to post a CAGR of over 7% during the period 2020-2024 according to the latest market research report by Technavio. Request a free sample report
The increasing prevalence of vision disorders is one of the major reasons for the eyeglasses market growth. The increasing cases of vision disorders are attributed to factors such as changing eating habits and prolonged exposure to television, laptops, and video games. A majority of the global population suffers from some form of myopia or hypermetropia. Moreover, the risk of eye diseases such as diabetic retinopathy, AMD, glaucoma, and cataracts also increases with age. The rising prevalence of such vision disorders will trigger the demand for eyewear products, such as eyeglasses.
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As per Technavio, the growing demand for customized and multipurpose eyeglasses will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Eyeglasses Market: Growing Demand for Customized and Multipurpose Eyeglasses
The growing demand for customized and multipurpose eyeglasses is anticipated to be one of the critical eyeglasses market trends during the forecast period. Over the last five years, the popularity of customized products has increased significantly in various developed regions, especially in the Americas and Europe. Personalized eyeglasses are designed according to the consumers’ facial contours. For instance, Topology Eyewear, one of the major vendors in the US eyeglasses market, offers a customization option, that allows users to scan the face on the iOS app and accordingly select the color, shape, and style of the eyeglass.
“Apart from the growing demand for customized and multipurpose eyeglasses, factors such as the expansion of distribution networks, and the growing demand for premium eyecare, along with marketing initiatives, and loyalty programs will have a significant impact on the growth of the eyeglasses market value during the forecast period,” says a senior analyst at Technavio.
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Eyeglasses Market: Segmentation Analysis
This market research report segments the eyeglasses market by geography (APAC, Europe, MEA, North America, and South America) and distribution channel (offline and online).
The European region led the eyeglasses market in 2019, followed by North America, APAC, South America, and MEA respectively. The growth of the eyeglasses market share in Europe can be attributed to factors such as the rising household income, increasing demand for high-quality healthcare products, and product advancements by leading vendors in the region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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