PUBLISHER: SkyQuest | PRODUCT CODE: 1165257
PUBLISHER: SkyQuest | PRODUCT CODE: 1165257
Global Reading Glasses Market was valued at USD 44.29 billion in 2021, and it is expected to reach a value of USD 55.25 billion by 2028, at a CAGR of more than 5.4% over the forecast period (2022-2028).
The industry for reading glasses is expanding as a result of the rise in ocular conditions including presbyopia and others. Due to expanding access to the product and a rise in awareness of eye care, growth is greater in developing countries. The global geriatric population rise is anticipated to have a substantial impact on the industry's expansion.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Reading Glasses Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
Global reading glasses Market is segmented based on the age group, type and region Based on age group, global reading glasses market is segmented into Less than 18 years, 18 to 64 years, 65 years and above. Based on Type, the Reading glasses market is segmented into Prescription glasses and OTC reading glasses. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Driver
The main industry factors, including the rising geriatric population, rising awareness of eye care, rising prevalence of ocular illnesses, rising standards of living, and expanding retail sector, are anticipated to support market expansion.
Restraint
The availability of alternative options such as LASIK and contact lenses will hinder the demand for reading glasses during the forecast period. Numerous advantages associated with these alternatives will discourage consumers to adopt reading glasses as a choice of selection.
Market Trends
The global reading glasses market is witnessing a shift towards online platforms in recent years. An increasing number of brands are launching their website online to cater to a larger consumer base. This allows consumers to select and shop from a variety of options and from the comfort of their homes.