Market Research Report
Prescription Lens Market Size, Share & Trends Analysis Report By Type (Single Vision, Progressive Lens, Workspace Progressives), By Application, By Coating (Anti-reflective, Ultraviolet Treatment), By Region, And Segment Forecasts, 2020 - 2027
|Prescription Lens Market Size, Share & Trends Analysis Report By Type (Single Vision, Progressive Lens, Workspace Progressives), By Application, By Coating (Anti-reflective, Ultraviolet Treatment), By Region, And Segment Forecasts, 2020 - 2027|
Published: June 26, 2020
Grand View Research, Inc.
Content info: 140 Pages
Delivery time: 2-10 business days
The global prescription lens market size is expected to reach USD 51.4 billion by 2027, expanding at a CAGR of 4.5%, according to a report conducted by Grand View Research, Inc. Uncorrected refractive error cases are majorly contributing in the rapidly growing cases of visual impairment. Therefore, various organizations are focusing on increasing awareness regarding the conditions related to refractive errors and their corrective options. These organizations are also incorporating services to treat refractive errors. Initiatives taken to enhance vision care, identify cases at early stage, and to provide efficient lens for treating different vision problems are some of the factors expected to boost market growth.
Myopia and astigmatism are the two refractive errors with highest prevalence. Therefore, to provide better treatment for these refractive errors market players are coming up with different type of prescription lens with advanced coating options. Furthermore, to increase the reach of these advanced lens, companies are being developed to enhance the accessibility of vision test through online platform. These online vision tests will enhance early diagnosis of refractive errors and hence are expected to positively impact the market.
Prescription lens are available with various coating options to provide patients with enhanced vision in different environments. Anti-reflective coating prescription lens are widely preferred due to their advantage of eliminating reflection and reducing contrast. On the other hand, UV coating prescription lens are experiencing growth mainly due to its growing demand to avoid penetration of harmful UV radiations. These UV radiations later can result into various eye related disorders, thus, increasing the demand for UV coated product.
Market players are focusing on forming alliances to expand the reach of their products. In December 2016, the HOYA Vision Care announced an agreement to acquire safety prescription eyewear business of 3M to expand its prescription lens product portfolio. Similarly, non-profit organizations are initiating programmes focusing on resolving visual impairment due to refractive errors.