Reading Glasses Market
Industry
- Automobile and Transportation
- Chemicals and Materials
- Consumer Goods
- Energy and Power
- Electronics and Semiconductor
- Food and Beverages
- Machinery and Equipment
- Pharma and Healthcare
- Service and Software
- Others
- Packaging
- ICT
- Technology
- Medical Devices and Consumables
- Agriculture
- Medical Care
- Aerospace and Defense
Reading Glasses Market Size, Share & Analysis By Type (Prescription Reading Glasses, OTC Reading Glasses), By Age (Less Than 18 Years, 18-65 Years, 66 And Above), By Distribution Channel (Online Retail Channels, Retail Stores), By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa), and Growth Forecast To 2032
Report ID: RV30874 | Published: Oct 2023 | Historical Period: 2018-2021 | Pages: 180 | Price: $3260| Industry: Medical Care
Reading Glasses Market Overview 2023:
The global reading glasses market size was valued at USD 3.9 billion in the year 2022 and is expected to register a rapid CAGR of 5.9 % during the forecast period. Factors such as rising geriatric population, rapid advancements in reading glass technology, growing demand for trendy designs and branded products, and increasing investments in developing advanced products are expected to drive global market growth during the forecast period.
Reading glasses are used by people with presbyopia, a refractive error common to aging eyes. These are corrective eyewear that could help people focus on close objects. These are designed to improve the near vision. These products are designed with a diopter value that indicates the level of magnification provided by the lens.
Reading glasses are used for short-term, close-up tasks. As the incidents of eye ailments are rising across the globe eye-related disorders are witnessing a rise. Numerous factors drive the growth of the reading glass market. Some of these could be, an increase in the use of digital devices, rising incidence of ophthalmic diseases, growing preference for enhanced convenience and accessibility, changing styling preferences, and rapidly expanding e-commerce sector.
Moreover, with the increase in e-commerce and online sales, the accessibility to reading glasses has increased among people. Over-the-counter glasses are a convenient and accessible solution for people suffering from presbyopia. The ease with which people purchase these without a prescription from different retail outlets can drive global market growth to a certain extent going ahead.
However, higher cost of frames could restrict the customers from purchasing the product and thus impact its sales during the forecast period.
Graphical Overview:
Key Takeaways:
Rising Aging Population:
The aging population is a crucial driver of the reading glasses market. With age, people are more likely to encounter presbyopia. Moreover, the symptoms of eye disorders are becoming more common in adults due to high usage of digital devices. This is also expected to drive global market growth during the forecast period.
Inadequate Awareness of the Importance of Reading Glasses:
Individuals currently are not aware of the availability of reading glasses as there is a lack of understanding about presbyopia and its benefits, especially in developing economies and remote localities. This may result in limited adoption of the product and slow down overall sales of the reading glasses in certain regions. In addition, rising availability of alternative treatments such as LASIK surgery or contact lenses can restrict the use of these spectacles, hampering the overall market growth going ahead.
Market Opportunities:
Despite different constraints, the global market has several opportunities for innovation and growth. With a varied range of stylish reading glasses, organizations could attract target customers who are looking for eyewear as a fashion accessory. Companies could also develop various smart and digital features that could be more appealing to customers who spend more time on digital devices. Lastly, organizations could also look for different sustainable and eco-friendly options that could help in incorporating eco-friendly practices in manufacturing and appeal environment environment-conscious consumers.
Type Outlook:
Among the type, prescription reading glasses are expected to account for largest revenue share between 2023 and 2032. Prescription reading glasses are crafted with high-quality lenses. These are eyeglasses specially designed to unique vision needs of an individual which can be customized as per the prescription provided by the eye care professional.
Factors such as rising geriatric population, growing awareness about importance of eye health, high preference for perception glasses due to accurate correction of presbyopia, accessibility to choose lens coating and frames according to individual’s choice, professional guidance, and availability of various customizations for perception glasses are expected to drive segment revenue growth during the forecast period.
Distribution Outlook:
There are various distribution channels such as online retail channels and retail stores through which these glasses are distributed to the end users. Among these, the online distribution channel is expected to register rapid revenue CAGR over the forecast period owing to factors such as rapidly expanding e-commerce sector, rising number of online retailers offering a varied range of these glasses, and high preference for online purchases due to enhanced convenience, wide availability, price and product comparison and home delivery.
Regional Outlook:
.JPG)
In North America, the reading glasses market is being influenced by an aging population and healthcare awareness. The region is expected to account for a larger revenue share in the market during the forecast period, due to the presence of a well-established eyewear industry. This makes it easier for organizations to operate and get advantage from the resources available. Other factors such as presence of leading eyewear manufacturers, growing prevalence of presbyopia and refractive errors, changing fashion and style trends, and rising investments in developing innovative and sustainable glasses for reading are expected to drive North America market growth during the forecast period.
Asia-Pacific market is influenced by the economic development of the localities. Factors such as rising aging population, increasing working-class population and screen time, growing awareness about importance of eye health, and rising availability of affordable reading glasses are expected to drive Asia Pacific market growth. Moreover, other factors which can contribute to overall market growth in Asia Pacific include, rapidly expanding e-commerce sector, growing adoption of stylish and trendy eyewear, and rising disposable income.
Report Coverage:
| Report Details | Outcome |
| Base Year for Estimation | 2022 |
| Historical Data | 2018-2021 |
| Forecast Period | 2023-2032 |
| Segments Covered: | Type, Age, Distribution Channel and Region |
| By Type | Prescription Reading Glasses, OTC Reading Glasses |
| By Age | Less Than 18 Years, 18-65 Years, 66 And Above |
| By Distribution Channels | Online Retail Channels, Retail Stores |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Country Scope | United States, Canada, Germany, France, UK, Italy, Russia, China, Japan, South Korea, Southeast Asia, India, Mexico, Brazil, Saudi Arabia, UAE, Turkey |
| Qualitative Info | •Value Chain Analysis •Pricing Analysis •Regional Outlook •Market Trends •Market Share Analysis •Competition Analysis •Technological Advancements |
| Key Players | EssilorLuxottica, ZEISS International. Safilo Groups S.P.A, Hoya Corporation, Hilco Corporation, Zenni Optical, Inc., ThinPotics, Inc., Pixel Eyewear, Johnson & Johnson Services, Inc., Carl Zeiss, Bausch & Lomb Incorporated, De Rigo Vision S.p.A. |
| Customization Scope | 10 Hours of Free Customization and Expert Consultation |
Competitive Landscape:
The global reading glasses market is extremely competitive, comprising several key regional and global players. Leading key players are focused on adopting various strategic alliances like mergers and acquisitions, partnerships, joint ventures, collaborations, and product launches to maintain their global position and enhance their product offerings. They are also focused on innovation, and scalability, adapting to evolving technology trends and consumer needs.
Some Leading Market Companies Listed in the Report:
- EssilorLuxottica
- ZEISS International
- Safilo Groups S.P.A
- Hoya Corporation
- Hilco Corporation
- Zenni Optical, Inc.
- ThinPotics, Inc.
- Pixel Eyewear
- Johnson & Johnson Services, Inc.
- Carl Zeiss
- Bausch & Lomb Incorporated
- De Rigo Vision S.p.A
Reading Glasses Industry Recent Developments:
- In October 2023, Alcon announced the launch of TOTAL30 multifocal globally which is the first and only monthly water gradient multifocal contact lens.
- In September 2023, EssilorLuxottica and Meta Platforms Inc. introduced the next generation smart glasses, Ray Ban Meta with features such as Meta AI, camera, advanced audio, and customization opportunities.
The global reading glasses market has been segmented based on Type, Age, Distribution Channels, and Region:
By Type:
- Prescription Reading Glasses
- OTC Reading Glasses
- Bifocal and Progressive Lenses
By Age:
- Less Than 18 Years
- 18-65 Years
- 66 And Above
By Distribution Channels:
- Online Retail Channels
- Retail Stores
By Region:
- North America
- United States
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Nordic Countries
- Asia Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
Frequently Asked Questions!
- EssilorLuxottica
- ZEISS International
- Safilo Groups S.P.A
- Hoya Corporation
- Hilco Corporation
- Zenni Optical, Inc.
- ThinPotics, Inc.
- Pixel Eyewear
- Johnson & Johnson Services, Inc.
- Carl Zeiss
- Bausch & Lomb Incorporated
- De Rigo Vision S.p.A
To Learn More About This Report
Our Clients
