New Market Research Report "Eyewear Market (Spectacles, Contact Lenses, Plano Sunglasses) - Global Industry Analysis, Size, Share, Growth And Forecast, 2012 - 2018" Has Been Added In MarketResearchReports.Biz's Reports Database
Albany, NY -- (SBWIRE) -- 05/10/2013 -- Increasing usage and acceptance of eyewear products in general, and prescription eyewear in particular, is a critical driver for market growth. With a large percentage of the population afflicted with conditions such as myopia, hyperopia, presbyopia, and astigmatism, the demand for corrective eyewear is on the rise. Plano sunglasses, which are sunglasses fitted with non-Rx lenses, provide protection for the eyes against harmful UV radiation. These non-prescription products are expected to witness lower demand in the organized sector in developing geographies; however, they contribute largely to the overall revenue due to high retail prices.
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Spectacles enjoy widespread global popularity owing to high degree of penetration in developing and developed economies alike. Due to lifestyle changes, which involve increasing formal employment and extensive usage of computers, the number of individuals using corrective eyewear is also on the incline. Contact lenses are gaining user acceptance due to increased awareness and convenience of use. Daily disposable and weekly disposable contact lenses are expected to be the preferred modality, due to their cost effectiveness and low dependency on eye care products.
The low availability of eyesight testing centers and eye examinations in developing regions has resulted in lower penetration of eyewear products in these geographies. This could emerge as a viable opportunity for market players, as healthcare services are essential for the prescription and renewal of corrective eyewear.
This report studies and analyzes the global eyewear market based on the available product types, the distribution channels employed, and geographical segmentation, which consists of North America, Europe, Asia Pacific, and the Rest of the World (RoW) region. The study also provides an in-depth analysis of the various factors driving and restraining the eyewear market, as well as the potential opportunities for all the stakeholders involved.
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Key players in this market include Johnson & Johnson, CooperVision, Bausch & Lomb, CIBA Vision, Luxottica, Safilo, and Essilor among others.
The report segments the global eyewear market as:
Eyewear Market, by Product Type:
Eyewear Market, by Geography:
Rest of the World (RoW)
Eyewear Market, by Distribution Channel:
Healthcare service providers
Spectacles Market - Global Industry Size, Market Share, Trends, Analysis And Forecasts 2012 - 2018 : http://www.marketresearchreports.biz/analysis-details/spectacles-market-global-industry-size-market-share-trends-analysis-and-forecasts-2012-2018
Global spectacles market is forecasted to grow at the compounded annual growth rate of 3% and reach the market value of $24 billion by the year 2016. This growth is mainly driven by increasing number of population suffering from refractive errors and rising awareness and cost effectiveness of eye care devices over refractive surgeries. About one third of population aging more than 40 years suffers from refractive errors in US and Western Europe. Occurrence of myopia is higher, around 70-90% in some Asian countries. Compared to men, females are at higher risk of developing refractive errors. All these factors are together responsible for driving the growth of spectacles industry all over the world. Currently remains the largest contributor to the spectacles industry driven by increase in aging population and brand consciousness among the consumers.
The US market for spectacles is expected to reach $6 billion by the year 2016 at the CAGR of 4%. Emerging economies like India and China are also expected to boost the growth of spectacles market as a result of rising awareness among the end users and increasing number of people suffering from eye related disorders.
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