Reading Glasses Market Demand, Size, Share, Growth Opportunities, Market Potential, Segmentation, Trends & Global Industry Forecast to 2032
The reading glasses market size is a global market that is expected to grow from USD 38.9 billion in 2022 to USD 64.1 billion by 2032, at a CAGR of 5.70% during the forecast period. The market is driven by the increasing prevalence of presbyopia, which is a natural age-related condition that makes it difficult to focus on near objects. Other factors driving the market include the rising elderly population, increasing screen time, and growing demand for fashionable reading glasses.
Furthermore, advancements in lens technology have enhanced the functionality and comfort of reading glasses, providing consumers with options such as blue light filtering lenses to alleviate digital eye strain. Additionally, the increasing awareness of eye health and the importance of regular vision check-ups have encouraged more individuals to invest in quality reading glasses as a preventive measure. This evolving landscape has not only boosted the sales of readers reading glasses but also fostered innovation within the industry as companies strive to meet the evolving demands of consumers. Overall, the readers reading glasses market is poised for continued growth as demographic shifts and technological advancements drive sustained demand for corrective eyewear.
The readers reading glasses market has experienced a notable surge in recent years, driven by an aging population and increased screen time among younger demographics. As individuals age, the need for reading glasses becomes more prevalent due to natural changes in vision, leading to a growing demand for corrective eyewear. Moreover, the pervasive use of digital devices such as smartphones, tablets, and computers has contributed to eye strain and discomfort, prompting younger consumers to seek reading glasses for relief. This dual demographic trend has propelled the readers reading glasses market to expand rapidly, with manufacturers offering a diverse range of styles, designs, and lens options to cater to varying needs and preferences.
Segment Analysis
The global reading glasses market has been segmented into age group, type and distribution channel.
On the basis of age group, the market is segmented into less than 18 years, 18-64 years, and 65 years and greater. The 18-64 years segment dominated the global market in 2022. Presbyopia, hyperopia, and farsightedness are three adult vision disorders that are becoming more common.
Based on type, the global reading glasses market has been segmented into prescription reading glasses and OTC reading glasses. Prescription reading glasses segment dominated the global Reading Glasses market in 2022. This can be attributable to the public's growing understanding of the value of choosing the right eyeglass strength.
Based on distribution channel, the global reading glasses market has been segmented into retail stores, online sales channels, and ophthalmology clinics. Retail stores segment dominated the global market in 2022. This may be related to the fact that customers prefer to visit actual stores to examine the goods in person and decide whether or not it is suitable for them.
Key Players
The following Global Reading Glasses Players — Bausch & Lomb Incorporated., EssilorLuxottica, Carl Zeiss, Johnson & Johnson Services, Inc., Hoya Corporation, De Rigo Vision S.p.A., ZENNI OPTICAL, INC., and ThinkOptic Inc.
Regional Analysis:
The global reading glasses market is segmented into four major regions: North America, Europe, Asia Pacific, and Latin America.
North America
North America is the largest market for reading glasses, accounting for over 30% of the global market share in 2022. The market is driven by the increasing prevalence of presbyopia, the rising elderly population, and increasing screen time. The major players in the North American reading glasses market include Essilor, Luxottica, Johnson & Johnson, Carl Zeiss, and Safilo Group.
Europe
Europe is the second largest market for reading glasses, accounting for over 25% of the global market share in 2022. The market is driven by the same factors as the North American market, namely the increasing prevalence of presbyopia, the rising elderly population, and increasing screen time. The major players in the European reading glasses market include Essilor, Luxottica, Safilo Group, Hoya Corporation, and De Rigo Vision S.p.A.
Asia Pacific
Asia Pacific is the fastest-growing market for reading glasses, accounting for over 20% of the global market share in 2022. The market is driven by the large and growing population, the increasing prevalence of presbyopia, and the rising elderly population. The major players in the Asia Pacific reading glasses market include Essilor, Luxottica, Hoya Corporation, De Rigo Vision S.p.A., and Zenni Optical.
Latin America
Latin America is a relatively small market for reading glasses, accounting for less than 10% of the global market share in 2022. However, the market is growing rapidly, driven by the increasing prevalence of presbyopia, the rising elderly population, and increasing screen time. The major players in the Latin American reading glasses market include Essilor, Luxottica, Safilo Group, and Hoya Corporation.
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