Reading Glasses Market Share, Size, Trends, Industry Analysis Report, By Type (Prescription Reading Glasses and OTC Reading Glasses); By Age Group; By Distribution Channel; By Region; Segment Forecast, 2024 - 2032
- Published Date:Mar-2024
- Pages: 114
- Format: PDF
- Report ID: PM4676
- Base Year: 2023
- Historical Data: 2019 – 2022
Report Outlook
Global reading glasses market size was valued at USD 36.87 billion in 2023. The market is anticipated to grow from USD 38.95 billion in 2024 to USD 61.04 billion by 2032, exhibiting the CAGR of 5.8% during the forecast period.
Market Overview
The growing use of various types of digital devices such as smartphones, tablets, and laptops that result in eye strain and many other eye related disorders, boosting the demand for reading glasses. The rising popularity of these glasses as fashionable accessory and increasing consumer interest in buying fashionable and trendy frame designs, further contribute to the market’s growth.
- For instance, the average person across the world spend about 6 hours and 37 minutes on looking at the screen every day. And in America, people spend 6 hours and 59 minutes on looking at screen every day.
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As people lives becoming increasingly digital, the need for blue light glasses is continues to grow. With large number of people spending hours in front of screen each day, companies are focusing on the development of glasses with technological advancements like augmented reality and smart technology. They allow wearers to easily access information and interact with the world in an innovative and new way.
Growth Factors
Rising prevalence of presbyopia and astigmatism to drive product demand
The rising prevalence of various types of eye disorders such as presbyopia, hyperopia, and astigmatism across the globe fostering the need for effective treatment options like reading glasses. As the aging population increases, the prevalence of such diseases also grows because people starts to lose ability to focus on close objects, thereby, fostering the growth of the market. For instance, according to the World Health Organization, more than 2.2 billion people across the world have some kind of vision impairment. Presbyopia is the leading cause of vision impairment with over 826 million people affected by presbyopia.
Development of technologically advanced glasses driving the market’s growth
With companies increasingly investing in incorporation of innovated and advanced technologies like artificial intelligence, augmented reality, and Bluetooth connectivity into reading glasses to help blind and vision impaired people address their issues, the demand for innovated reading glasses increases dramatically. For instance, in March 2023, Envision, announced about its plan for the integration of AI-powered software technology into the Google Glass at CSUN. This new combination will provide visually impaired and blind person with ability to a hands-free and less obtrusive way of accessing the world.
Restraining Factors
Lack of awareness about ocular disorders and costly frames to hinder market growth
The lack of awareness about several eye related disorders like ocular disorder and importance of regular eye examinations limiting the global market growth. Also, the high cost associated with quality frames and lenses restricting the product adoption and demand especially in the low-and-middle income countries.
Report Segmentation
The market is primarily segmented based on type, age group, distribution channel, and region.
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By Age Group |
By Distribution Channel |
By Region |
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By Type Insights
Prescription reading glasses segment accounted for the largest share in 2023
The prescription reading glasses segment accounted for the largest share. Segment’s dominance is attributed to its highly accurate and customized corrective strength which suites customer need more efficiently. Additionally, prescription reading glasses gaining huge popularity and being adopted by large number of people because of its ability to provide ease of reading and reading comfort, while reducing the strain on human eyes and making reading very less tiring.
The OTC reading glasses segment is projected to grow at highest growth rate. This growth is attributable to its growing adoption all over the world as an affordable reading glass option over prescription glasses particularly for people with minor vision issues. Also, the rising proliferation of OTC reading glasses as fashion accessories because they are widely available in stylish designs and frame shapes, further contribute to the segment’s growth.
By Age Group Insights
18-64 ears segment led the market in 2023
The 18-64 years’ age group segment led the market. This dominance is accelerated by rapid increase in the number of visual impairments among this age group that led to difficulty in focusing on closer objects among individuals, thereby demand of reading classes increases significantly. Also, increasing usage of digital devices and proliferation of spending more time on screens among younger generation also affects their ability to see objects or focus on them and contributes to various eye related issues, which also propels the need of reading glasses. For instance, according to a report published by The Times of India, more than 27.5 crore people in India that makes approx. 23% of country’s population are suffering with eyesight problems due to excessive screen time. On an average, people are spending 6 hours and 36 minutes on screen on daily basis.
By Distribution Channel Insights
Online sales channels segment is projected to witness highest growth
The online sales channels segment is projected to grow fastest. Segment’s growth is due to growing consumer inclination towards online channels as they offer lucrative discounts and many other beneficial features such as wider selection, better price comparison, and greater accessibility to customer having difficulties in visiting offline stores. Moreover, there are several online retailers focusing on providing immersive shopping experiences to their customers, hence they are adopting innovative technologies like virtual try-on tools, that attract customers towards them.
Regional Insights
North America dominated the global market in 2023
The North America region dominated the global market in 2023. Region’s dominance is fueled by rising prevalence of presbyopia and robust presence of leading players with wider distribution network. Also, increasing number of educational campaigns and awareness programs regarding the importance of regular vision checks have also been contributing to demand of reading glasses in the region.
The Europe region is anticipated to witness highest growth. Region’s growth is accelerated by region’s larger geriatric population with significant prevalence of refractive errors coupled with the changes in people lifestyles like long working hours and increased leisure activities that led to incidences of eye related issues. For instance, according to the National Institute of Health, 41.3% of people aged 18-35 years in Germany are reported to be myopic, with a significant increase from 32.3% in 2010.
Key Market Players & Competitive Insights
Improvements in product quality and prescription accuracy to drive competition
The reading glasses market is moderately fragmented in nature and is anticipated to witness competition due to numerous global players. The key players are mainly competing on factors such as improving their products design & style, enhancing the frame quality, providing better prescription accuracy to their customers, developing cost-effective products to cater wider customer base, and adoption various effective marketing strategies to advertise their products to target audience.
Some of the major players operating in the global market include:
- Corning Inc. (US)
- EssilorLuxoticca (France)
- Foster Grant (US)
- Gamma Ray Optics (US)
- Gunnar Optiks (US)
- Hilco Vision (US)
- HOYA Corporation (Japan)
- Jins Co. Ltd. (Japan)
- Pixel Eyewear (US)
- SAFILO Group S.p.A. (Italy)
- Swanpick (US)
- ZEISS International (Germany)
- ZENINI Optical (US)
Recent Developments in the Industry
- In April 2023, SHG Technologies, announced about the launch of its AI-powered smart glasses in collaboration with Vision Aid India, that are mainly aimed at blind and visually challenged users. The newly developed glasses use machine learning and artificial intelligence that will allow visually challenged users to read books and also write without any scribe.
- In August 2022, XRAI Glass, unveiled its new AR Smart Glasses, which is specially designed to read speech in real time. The glasses will be available to purchase online by EE network customers with an upfront cost of USD 12 or at the EE stores for non-EE customers.
Report Coverage
The reading glasses market report emphasizes on key regions across the globe to provide better understanding of the product to the users. Also, the report provides market insights into recent developments, trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.
The report provides detailed analysis of the market while focusing on various key aspects such as competitive analysis, type, age group, distribution channel, and their futuristic growth opportunities.
Reading Glasses Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 38.95 billion |
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Revenue forecast in 2032 |
USD 61.04 billion |
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CAGR |
5.8% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
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Regional scope |
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Competitive Landscape |
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Report Format |
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Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
FAQ's
key companies in Reading Glasses Market are ZEISS International, HOYA Corporation, Foster Grant
Reading glasses market exhibiting the CAGR of 5.8% during the forecast period.
The Reading Glasses Market report covering key segments are type, age group, distribution channel, and region.
key driving factors in Reading Glasses Market are Rising prevalence of presbyopia and astigmatism to drive product demand
The global reading glasses market size is expected to reach USD 61.04 billion by 2032
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