Las Vegas, USA, June 01, 2022 (GLOBE NEWSWIRE) -- The Global Eyewear Market is Expected to Reach Approximately USD 190 Billion by 2027, Estimates DelveInsight
The stellar growth observed in the Eyewear market is primarily due to the increase in the prevalence of the population suffering from various vision impairments such as refractive errors, cataracts, and others, also, the development of eyewear with innovative designs have increased the popularity of different fashion eyewear among the millennials.
DelveInsight's Eyewear Market Insights and Forecast report provide the current and forecast Eyewear, upcoming innovations in the devices, individual market shares of the devices, challenges, drivers, and barriers, market trends, and key competitors in the Eyewear Market scenario.
Some of the essential takeaways from the Eyewear Market report:
- According to DelveInsight analysis, North America is expected to dominate the overall Eyewear Market during the forecasted period.
- Key Eyewear companies proactively working in the market include Alcon, Inc., Johnson & Johnson, Inc., EssilorLuxottica, CooperVision (CooperCompanies), Bausch Health Companies Inc., SAFILO GROUP S.P.A., ZEISS International, Fielmann AG, JINS Eyewear US, Inc., LENSMAM CO., LTD., VIEWELL.INC, POLYTOUCH, SEED Co., Ltd., Menicon Co., Ltd., OPTEX AUSTRALIA, Sunshades Eyewear, HOYA Corporation, American Sunglass Manufacturing (AmSun Manufacturing Inc.), Charlie V, Eyeking, SightGlass Vision, Inc., and others.
- As per DelveInsight estimates, the Global Eyewear Market size was valued at USD 132.21 Billion in 2020, growing at a CAGR of 6.33% during the forecast period from 2021 to 2026, to reach USD 189.97 Billion by 2026.
- On November 19, 2021, Johnson & Johnson Vision received FDA approval for ACUVUE® Abiliti™ Overnight Therapeutic Lenses for Myopia management.
- In October 2021, CooperVision announced that SightGlass Vision™ Diffusion Optics Technology™ resulted in a significant reduction in myopia progression after two years in a clinical trial.
- INS Eyewear launched a new line of biodegradable sunglasses as part of its popular JINS&SUN brand in the US on August 12, 2021.
- On May 17, 2021, Essilor received the FDA “breakthrough device” designation for ESSILOR STELLEST™, its new generation of spectacle lens solutions in the fight against myopia.
- On June 03, 2020, SightGlass Vision received CE Mark allowing the European marketing authorization for novel eyeglasses that slow myopia progression in children.
- ApexLens Co., Ltd. commenced a clinical trial in the year 2020 to study the performance and safety of silicone hydrogel soft contact lenses (SHSCL).
- In November 2019, the US FDA approved the MiSight contact lens, a single-use, disposable, soft contact lens indicated to slow the progression of myopia (nearsightedness) in children between the ages of 8 and 12 years old at the initiation of treatment.
To know the keyhighlights related download Eyewear Market Sample Report
Eyewear Overview
Eyewear comprise of items and accessories worn over or on the eyes for various purposes such as protection against the environment, fashion, or to improve the visual impairment. The most common eyewear products include glasses, contact lenses, and sunglasses.
Geographically, the Global Eyewear market is studied for North America, Europe, Asia-Pacific, and the Rest of the World. In terms of revenue share, North America is expected to dominate the overall Eyewear market during the forecast period. This domination is owing to the increase in the population suffering from refractive errors such as myopia, and presbyopia, among others. Additionally, an increase in the awareness regarding the early management of vision impairment among the patient population, an increase in adoption of eyewear as a fashion trend, presence of key players, among others is projected to drive the regional Eyewear market.
The increase in the incidence of myopia at an alarming rate in the country may increase the demand for various eyewear in the country which will in turn drive the Eyewear market growth. In 2020, Adult Myopia market size in the 7MM was USD 228.89 million, which is expected to rise in the coming years. Furthermore, the presence of key Eyewear companies such as CooperCompanies, Johnson & Johnson, and Bausch & Lomb Incorporated, among others, and their initiatives to develop innovative eyewear products are anticipated to boost the Eyewear market during the forecast period. For instance, in October 2021, CooperVision announced that SightGlass Vision™ Diffusion Optics Technology™ resulted in a significant reduction in myopia progression after two years in the clinical trial. Thus, the interplay of all the above-mentioned factors is likely to propel the Eyewear market growth in the region during the forecast period.
Learn more about the Key companies covered in the report by downloading @ Eyewear Market Assessment
An outstanding growth has been observed in the Eyewear market owing to several factors such as the increasing prevalence of population suffering from various vision impairments such as refractive errors, cataracts, and others. Furthermore, the development of eyewear with innovative designs has increased the popularity of different fashion statement eyewear among the millennials, collectively all factors thereby augmenting the Global Eyewear market. In addition to that, the rising geriatric population and integration of advanced technology into the product portfolio are also responsible for propelling the Eyewear market. Moreover, the escalating burden of the aging population is likely to further increase the demand for eyewear in the upcoming years. Hence, all the aforementioned factors are anticipated to boost the Global Eyewear market during the forecast period.
However, on the other hand, the presence of counterfeit products, and limitations associated with some eyewear products such as prescription glasses are some of the factors likely to impede the Eyewear market growth. Additionally, the unprecedented COVID-19 pandemic had slowed down the Eyewear market due to the implementation of nationwide lockdowns and temporary closure of various ophthalmic clinics and retail shops for an extended period of time during the pandemic. These all factors turned out to be several setbacks in the growth of the Eyewear market.
To gain a better understanding of the COVID-19 impact on the Eyewear Industry, get a snapshot of the Eyewear Market Impact by COVID-19
Scope of the Eyewear Market Report
- Coverage: Global
- Study Period: 2021-2027
- Eyewear Market Segmentation By Product: Spectacles [Frames, Glasses], Sunglasses, Contact Lenses
- Eyewear Market Segmentation By Consumer: Adult and Children
- Eyewear Market Segmentation By Distribution Channel: Offline Channel And Online Channel
- Eyewear Market Segmentation By Geography: North America, Europe, Asia-Pacific, Rest of the World (Middle East, Africa, and South America)
- Key Eyewear Companies: Alcon, Inc., Johnson & Johnson, Inc., EssilorLuxottica, CooperVision (CooperCompanies), Bausch Health Companies Inc., SAFILO GROUP S.P.A., ZEISS International, Fielmann AG, JINS Eyewear US, Inc., LENSMAM CO., LTD., VIEWELL.INC, POLYTOUCH, SEED Co., Ltd., Menicon Co., Ltd., OPTEX AUSTRALIA, Sunshades Eyewear, HOYA Corporation, American Sunglass Manufacturing (AmSun Manufacturing Inc.), Charlie V, Eyeking, SightGlass Vision, Inc., and others.
- Porter’s Five Forces Analysis
- Product Profiles
- Case Studies
- KOL's Views
- Analyst's View
Delveinsight Analysis: Global Eyewear Market was valued at USD 132.21 Billion in 2020, growing at a CAGR of 6.33 % during the forecast period from 2022 to 2027 to reach USD 189.97 Billion by 2026.
Know more about which MedTech player is set to dominate the Eyewear market @ Key Eyewear Companies
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Eyewear Market Key Factors Analysis |
| 5 | Eyewear Market Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Eyewear Market |
| 7 | Eyewear Market Layout |
| 8 | Eyewear Market Global Company Share Analysis – Key 3-5 Companies |
| 9 | Eyewear Company and Product Profiles |
| 10 | Project Approach |
| 11 | KOL Views |
| 12 | DelveInsight Capabilities |
| 13 | Disclaimer |
| 14 | About DelveInsight |
Gain rich insights about the latest Eyewear regulatory approvals @ Eyewear Regulatory Landscape And Patent Analysis
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