Product Code: CMI5337
Spectacle lens market is estimated to be valued at USD 55.02 Bn in 2024 and is expected to reach USD 74.44 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
55.02 Bn |
Historical Data for: |
2019 to 2023 |
Forecast Period: |
2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: |
4.40% |
2031 Value Projection: |
74.44 Bn |
Figure. Spectacle Lens Market Share (%), By Region, 2024
With increasing awareness about ocular health and eyesight, more people are opting for corrective lenses. Advances in lens technology have enabled manufacturers to develop a wide range of spectacle lenses catering to diverse vision requirements. Growing popularity of progressive and anti-reflective coated lenses coupled with expanding base of geriatric population can boost demand for spectacle lenses in the future.
Market Dynamics
Spectacle lens market growth is driven by factors like growing prevalence of myopia, rising eye healthcare awareness, increasing disposable incomes, and technological innovations facilitating new product launches. In December 2021, according to National Center for Biotechnology Information, the global prevalence of myopia is predicted to increase from 27% of the world's population in 2010 to 52% by 2050. This has boosted demand for prescription lenses significantly. Moreover, growing fashion consciousness and customized lens treatments offering anti-scratch, anti-reflective, and UV protection coatings also boosts the popularity of premium lens varieties.
High costs associated with advanced lens types can hamper their adoption especially in price-sensitive developing nations. Popularity of refractive surgeries and contact lenses as an alternative to spectacles can also hamper the market growth. Emerging opportunities in developing countries, growing online sales, and rising focus on men's lens segment can present new profitable avenues for players in the near future.
Key features of the study
This report provides in-depth analysis of the global spectacle lens market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global spectacle lens market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Hoya Vision Care Company, GKB Ophthalmics Ltd., Essilor International SA, Carl Zeiss Meditec AG, Seiko Optical Products Co. Ltd., EssilorLuxottica, Fielmann Group AG, Transitions Optical, Inc., CooperVision, Safilo Group S.p.A., Plexus Optix, Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
Global spectacle lens market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global spectacle lens market
Market Segmentation
- By Lens Type Insights (Revenue, USD, 2019 - 2031)
- Single Vision
- Bifocal
- Trifocal
- Others
- By Coating Type Insights (Revenue, USD, 2019 - 2031)
- Anti-reflective Coating
- Scratch-resistant Coating
- Anti-fog Coating
- UV Protection
- Others
- By Disease Indication Insights (Revenue, USD, 2019 - 2031)
- Myopia
- Hyperopia
- Presbyopia
- Others
- By Type Insights (Revenue, USD, 2019 - 2031)
- Rx Spectacle Lenses
- Non-Rx Spectacle Lenses
- By Sales Channel Insights (Revenue, USD, 2019 - 2031)
- Retail Stores
- Online Stores
- Ophthalmic Clinics
- Regional Insights (Revenue, USD, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- Hoya Vision Care Company
- GKB Ophthalmics Ltd.
- Essilor International SA
- Carl Zeiss Meditec AG
- Seiko Optical Products Co. Ltd.
- EssilorLuxottica
- Fielmann Group AG
- Transitions Optical, Inc.
- CooperVision
- Safilo Group S.p.A.
- Plexus Optix, Inc.
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Spectacle Lens Market, By Lens Type
- Spectacle Lens Market, By Coating Type
- Spectacle Lens Market, By Disease Indication
- Spectacle Lens Market, By Type
- Spectacle Lens Market, By Sales Channel
- Spectacle Lens Market, By Region
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Merger and Acquisition Scenario
4. Spectacle Lens Market, By Lens Type, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Single Vision
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Bifocal
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Trifocal
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
5. Spectacle Lens Market, By Coating Type, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Anti-reflective Coating
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Scratch-resistant Coating
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Anti-fog Coating
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- UV Protection
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
6. Spectacle Lens Market, By Disease Indication, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Myopia
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Hyperopia
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Presbyopia
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
7. Spectacle Lens Market, By Type, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Rx Spectacle Lenses
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Non-Rx Spectacle Lenses
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
8. Spectacle Lens Market, By Sales Channel, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Retail Stores
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Online Stores
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Ophthalmic Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
9. Spectacle Lens Market, By Region, 2019 - 2031, (USD Bn)
- Introduction
- Market Share (%) Analysis, 2024,2027 & 2031, (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2020 - 2031, (USD Bn)
- Regional Trends
- North America
- Introduction
- Market Size and Forecast, By Lens Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Coating Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Disease Indication, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Sales Channel, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (USD Bn)
- Latin America
- Introduction
- Market Size and Forecast, By Lens Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Coating Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Disease Indication, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Sales Channel, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (USD Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, By Lens Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Coating Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Disease Indication, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Sales Channel, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (USD Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, By Lens Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Coating Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Disease Indication, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Sales Channel, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (USD Bn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Introduction
- Market Size and Forecast, By Lens Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Coating Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Disease Indication, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Sales Channel, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (USD Bn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, By Lens Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Coating Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Disease Indication, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Type, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Sales Channel, 2019 - 2031, (USD Bn)
- Market Size and Forecast, By Country/Region, 2019 - 2031, (USD Bn)
- South Africa
- North Africa
- Central Africa
10. Competitive Landscape
- Hoya Vision Care Company
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- GKB Ophthalmics Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Essilor International SA
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Carl Zeiss Meditec AG
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Seiko Optical Products Co. Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- EssilorLuxottica
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Fielmann Group AG
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Transitions Optical, Inc.
- CooperVision
- Safilo Group S.p.A.
- Plexus Optix, Inc.
11. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
12. References and Research Methodology
- References
- Research Methodology
- About us