May 17, 2022 04:58 ET | Source: Research and Markets Research and Markets

Dublin, May 17, 2022 (GLOBE NEWSWIRE) -- The "Global Spectacle Lens Market, By Type, By Material, By Coatings, By Application, By Distribution Channel, Estimation & Forecast, 2017 - 2030" report has been added to ResearchAndMarkets.com's offering. The global Spectacle Lens market held a market value of USD 55.01 Million in 2021 and is projected to reach USD 88.25 Million by the year 2030. The market is anticipated to grow at a CAGR of 5.5% from 2022 to 2030. Around 330 million units of Spectacle Lens were sold in 2021. The market is expected to be driven by the increasing cases of eye disorder among elderly population coupled with the spectacle correction technology for myopia control. Furthermore, increasing demand of fashionable eyeglasses among customers are also estimated to fuel the market growth. Despite the driving factors, lack of required skills for ophthalmic laboratory technicians are anticipated to hinder the market growth. Growth Influencers:

Increasing cases of eye disorder among elderly population According to the World Health Organization, as of October 2021, globally nearly 2.2 billion people suffer from a near or distance vision impairment. Leading causes of vision impairment are cataracts and uncorrected refractive errors. As per the same source, majority of these people are above the age of 50 years. Out of these 2.2 billion people, nearly 1 billion suffer from moderate or severe distance vision impairment or blindness. This is due to 84.4 million unaddressed refractive error patients, 7.7 million glaucoma patients, 94 million cataract patients, 3.9 million diabetic retinopathy patients, 4.2 million corneal opacities patients, 2 million trachoma patients, and about 826 million vision impairment caused by unaddressed presbyopia patients. Hence, increasing cases of eye disorders, especially among elderly population is expected to create awareness regarding eye testing, hence boosting the demand for spectacle lens. Segments Overview:

The global Spectacle Lens market is segmented into type, material, coatings, application, and distribution channel. By Type

The progressive lenses segment is anticipated to witness the highest growth rate of around 6.9% during the projected period, as it provides a wider zone of clear vision and is good for computer use, which increases its demand. The single vision lenses segment is estimated to hold a market opportunity of more than USD 10 million during 2022 to 2030, owing to their high demand in developing countries. The trifocal lenses segment is expected to cross a mark of USD 10 million by 2023 owing to the rising number of patients suffering from blurry vision. By Material

The polycarbonate segment is expected to account for the largest market share of over 30% in 2021 owing to their better durability and light weight. The high-index plastic segment is anticipated to witness the highest growth rate of around 6.5% over the projected period owing to their increasing demand for correcting sight. Trivex lenses are also likely to register significant growth as they have less internal stress and also provide sharper central vision. By Coatings

The ultraviolet (UV) protective segment is expected to register the fastest CAGR of around 6.6% over the forecast period, owing to its rising demand due to usage in making lenses, which are meant for computer use. The antireflective coating (AR Coating) segment is estimated to surpass a mark of USD 20 million by 2026, as they eliminate the harmful glare by absorbing the reflected light. By Application

The reading glasses segment is expected to hold the largest market share of over 35% in 2021, owing to their increasing demand, especially from students and academicians. The non-prescription (Fake) glasses segment is estimated to surpass a market value of around USD 10 million by 2027 owing to their high usage for fashion and style purposes, especially amongst the youngsters. By Distribution Channel

The online segment is expected to register the highest CAGR of about 6.2% during the projected period owing to the rising number of e-commerce platforms, solely focused on eyewear. For instance, Lenskart in India is a well-known online eye-wear brand. Within the offline segment, the ophthalmology clinic/eye care centers generated the highest revenue owing to the rising awareness regarding the importance of getting eyes tested by a specialist. Regional Overview

By region, the global Spectacle Lens market is divided into Asia Pacific, Europe, North America, Middle East & Africa, and South America. The North America region accounted for the largest market share of more than 35% owing to the growing presence of major players in the region. The Asia Pacific region holds an opportunity of more than USD 10 million during 2022 to 2030, owing to the growing adoption of technologically advanced lenses in the region. Competitive Landscape

Major players in the global Spectacle Lens market include Carl Zeiss Meditec AG, Cooper Companies Inc., Essilor International SA, GKB Ophthalmics Ltd, Hoya Corporation, Johnson and Johnson, Nikon Corporation, Rodenstock GmbH, Seiko Optical Products Co. Ltd, Valeant Pharmaceuticals (Bausch Health), Vision Ease, and Warby Parker, among others. The cumulative market share of the four major players is close to 50%. These market players are involved in collaborations, mergers & acquisitions, and new product launches, among other initiatives, to strengthen their market presence. For instance, in October 2021, CooperVision announced that sightglass vision diffusion optics technology demonstrates a significant reduction in myopia progression after two years in the clinical trial. The global Spectacle Lens market report provides insights on the below pointers:

The global Spectacle Lens market report answers questions such as:

Key Topics Covered: Chapter 1. Research Framework Chapter 2. Research Methodology Chapter 3. Executive Summary: Spectacle Lens Market

Chapter 4. Global Spectacle Lens Market Overview 4.1. Industry Value Chain Analysis 4.1.1. Material Provider 4.1.2. Manufacturer 4.1.3. Distributor 4.1.4. End User 4.2. Industry Outlook 4.2.1. Vision Impairment 4.2.1.1. Global Prevalence of Myopia 4.2.1.2. Global Prevalence of High Myopia 4.3. PESTLE Analysis 4.4. Porter's Five Forces Analysis 4.4.1. Bargaining Power of Suppliers 4.4.2. Bargaining Power of Buyers 4.4.3. Threat of Substitutes 4.4.4. Threat of New Entrants 4.4.5. Degree of Competition 4.5. Market Dynamics and Trends 4.5.1. Growth Drivers 4.5.2. Restraints 4.5.3. Challenges 4.5.4. Key Trends 4.6. Covid-19 Impact Assessment on Market Growth Trend 4.7. Market Growth and Outlook 4.7.1. Market Revenue Estimates and Forecast (US$ Mn), 2017 - 2030 4.7.2. Market Volume Estimates and Forecast (Mn Units), 2017 - 2030 4.7.3. Pricing Analysis 4.8. Competition Dashboard 4.8.1. Market Concentration Rate 4.8.2. Company Market Share Analysis (Value %), 2020 4.8.3. Competitor Mapping

Chapter 5. Global Spectacle Lens Market, By Type 5.1. Key Insights 5.2. Market Size and Forecast, 2017- 2030 (US$ Mn and Mn Units) 5.2.1. Single vision lenses 5.2.2. Bifocal lenses 5.2.3. Trifocal Lenses 5.2.4. Progressive lenses 5.2.5. Toric Lenses 5.2.6. Prism Lenses

Chapter 6. Global Spectacle Lens Market Analysis, By Material 6.1. Key Insights 6.2. Market Size and Forecast, 2017- 2030 (US$ Mn and Mn Units) 6.2.1. CR-39 Plastic 6.2.2. Polycarbonate 6.2.3. High-index Plastic 6.2.4. Glass 6.2.5. Trivex

Chapter 7. Global Spectacle Lens Market Analysis, By Coatings 7.1. Key Insights 7.2. Market Size and Forecast, 2017- 2030 (US$ Mn and Mn Units) 7.2.1. Ultraviolet (UV) Protective 7.2.2. Anti-Reflective Coating (AR Coating) 7.2.3. Scratch-Resistant Coating 7.2.4. Blue Light Filtration Coatings 7.2.5. Anti-Fog Coating 7.2.6. Anti-reflective Coating 7.2.7. Others

Chapter 8. Global Spectacle Lens Market Analysis, By Application 8.1. Key Insights 8.2. Market Size and Forecast, 2017- 2030 (US$ Mn and Mn Units) 8.2.1. Reading Glasses 8.2.2. Digital Protection 8.2.3. Safety Glasses 8.2.4. Sunglasses 8.2.5. Non-Prescription (Fake) Glasses

Chapter 9. Global Spectacle Lens Market Analysis, By Distribution Channel 9.1. Key Insights 9.2. Market Size and Forecast, 2017- 2030 (US$ Mn and Mn Units) 9.2.1. Online 9.2.2. Offline 9.2.2.1. Pharmacies 9.2.2.2. Ophthalmology Clinic/ Eye Care Centers 9.2.2.3. Hospitals

Chapter 10. Global Spectacle Lens Market Analysis, By Region/ Country 10.1. Key Insights 10.2. Market Size and Forecast, 2017- 2030 (US$ Mn and Mn Units) 10.2.1. North America 10.2.1.1. The U.S. 10.2.1.2. Canada 10.2.1.3. Mexico 10.2.2. Europe 10.2.2.1. Western Europe 10.2.2.1.1. The UK 10.2.2.1.2. Germany 10.2.2.1.3. France 10.2.2.1.4. Italy 10.2.2.1.5. Spain 10.2.2.1.6. Rest of Western Europe 10.2.2.2. Eastern Europe 10.2.2.2.1. Poland 10.2.2.2.2. Russia 10.2.2.2.3. Rest of Eastern Europe 10.2.3. Asia Pacific 10.2.3.1.China 10.2.3.2. India 10.2.3.3. Japan 10.2.3.4. Australia & New Zealand 10.2.3.5. South Korea 10.2.3.6. ASEAN 10.2.3.7. Rest of Asia Pacific 10.2.4. Middle East & Africa (MEA) 10.2.4.1. UAE 10.2.4.2. Saudi Arabia 10.2.4.3. Rest of MEA 10.2.5. South America 10.2.5.1. Brazil 10.2.5.2. Argentina 10.2.5.3. Rest of South America

Chapter 11. North America Spectacle Lens Market Analysis 11.1. Key Insights 11.2. Market Size and Forecast, 2017-2030 (US$ Mn and Mn Units) 11.2.1. By Type 11.2.2. By Material 11.2.3. By Coatings 11.2.4. By Application 11.2.5. By Distribution Channel 11.2.6. By Country

Chapter 12. Europe Spectacle Lens Market Analysis 12.1. Key Insights 12.2. Market Size and Forecast, 2017-2030 (US$ Mn and Mn Units) 12.2.1. By Type 12.2.2. By Material 12.2.3.By Coatings 12.2.4. By Application 12.2.5. By Distribution Channel 12.2.6. By Country

Chapter 13. Asia Pacific Spectacle Lens Market Analysis 13.1. Key Insights 13.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and Mn Units) 13.2.1. By Type 13.2.2. By Material 13.2.3. By Coatings 13.2.4. By Application 13.2.5. By Distribution Channel 13.2.6. By Country

Chapter 14. Middle East & South Africa (MEA) Spectacle Lens Market Analysis 14.1. Key Insights 14.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and Mn Units) 14.2.1. By Type 14.2.2. By Material 14.2.3. By Coatings 14.2.4. By Application 14.2.5. By Distribution Channel 14.2.6. By Country

Chapter 15. South America Spectacle Lens Market Analysis 15.1. Key Insights 15.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and Mn Units) 15.2.1. By Type 15.2.2. By Material 15.2.3. By Coatings 15.2.4. By Application 15.2.5. By Distribution Channel 15.2.6. By Country

Chapter 16. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook) 16.1. Carl Zeiss Meditec AG 16.2. Cooper Companies Inc. 16.3. Essilor International SA 16.4. GKB Ophthalmics Ltd 16.5. Hoya Corporation 16.6. Johnson and Johnson 16.7. Nikon Corporation 16.8. Rodenstock GmbH 16.9. Seiko Optical Products Co. Ltd 16.10. Valeant Pharmaceuticals 16.11.Vision Ease 16.12. Warby Parker 16.13. Other Prominent Players

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