Global Eyewear Market Growth Fuelled by Rising R&D Activitiesby IMARC Group Market Research Reports
Rising prevalence of myopia to drive the eyewear market
The demand for prescription-based eyeglasses has increased as there has been a notable rise in the cases of myopia which is one of the major factors which has been driving the eyewear market size. In addition to this, manufacturers have been increasingly investing in research projects so as to develop innovative lenses with improved optical designs, materials, and enhanced coatings. The eyewear market growth is also being propelled by the rising demand for luxury and branded sunglasses as the consumers are willing to spend more on premium products. Another trend in the market is the increasing number of awareness programs on the advanced treatments available for eyesight disorders. These programs are generally conducted by various manufacturers, government or non-governmental organisations. Some of the other eyewear market trends which are contributing towards the demand for eyewear products include launch of low-cost and disposable lenses, increase in ageing population, rapid growth in online retailing, and introduction of vision insurance plans. However, the growth of the market is being hindered by the presence of counterfeit products and increasing number of corrective eye surgeries.
Currently, there are numerous types of eyewear products available in the market including spectacles, sunglasses and contact lenses. Spectacles account for the largest segment owing to the increasing usage of gadgets and electronic devices, such as mobile phones, laptops, tablets and computers which have led to a rising number of eyesight disorders. In addition to this, governments of various emerging nations have started taking several initiatives in order to spread awareness about eye-care which has been positively influencing the demand for spectacles across the globe.
Moreover, the increase in the demand for sunglasses can be accredited to the availability of various designs as well as innovative and efficient products. Whereas, the demand for contact lenses has been increasing due to changing lifestyles, enhanced buying power of the consumers as well as rising consciousness among consumers regarding their appearance.
On the basis of gender, the market has been segmented into men, women and unisex. Amongst these, men represent the largest segment of eyewear products on account of excessive exposure to digital devices such as smartphones, personal computer, tablets, etc. Increasing demand for feminine eyewear products can be attributed to a significant rise in the working female population across the globe. Whereas, the demand for unisex eyewear products has been rising due to the introduction of numerous new, unique and innovative styles which are appealing to both men and women.
Created on Aug 29th 2018 01:08. Viewed 606 times.