Global Reading Glasses Market Report and Forecast 2024-2032

Global Reading Glasses Market Outlook

The global reading glasses market is being aided by the growing eyewear market, which reached a value of about USD 138.77 billion in 2023. The global eyewear industry is further expected to grow at a CAGR of 3.3% in the forecast period of 2024-2032 to reach a value of approximately USD 185.08 billion by 2032.

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Increasing Preference for Prescription Reading Glasses to Aid the Growth of the Reading Glasses Industry

The reading glasses usually range from strengths of 1-3 and are rarely manufactured for strengths greater than 4 as most people only require low powered readers. Based on type, the prescription segment accounts for a major share in the industry and is expected to maintain its dominance in the forecast period as well. This can be attributed to the growing focus of consumers on getting a reading glass with more accurate vision correction and frame fit. The disadvantages associated with OTC reading glasses include comparatively poor quality and same corrective strength for both eyes as they are ready-made in nature. This is resulting in increased preference for prescription reading glasses among consumers.

North America to Significantly Contribute to the Growth of the Reading Glasses Industry

Region-wise, North America accounts for a significant share in the industry. Within North America, the United States serves as a major market for reading glasses. This can be attributed to the increased awareness among consumers regarding the value of corrected vision and easy access to eyeglasses. Meanwhile, in developing regions like the Asia Pacific, the industry is expected to witness a robust growth in the forecast period owing to the increasing awareness regarding eye care, favourable government initiatives, and increasing consumer disposable incomes.

Reading Glasses: Market Segmentation

Reading glasses are the most common type of vision correction eyeglasses for individuals of all ages. These spectacles are worn by people who face difficulty in reading the content properly as they effectively reduce eye strain and headache. The use of reading glasses can help restore the clear vision of an individual, thus, significantly improving a person’s quality of life.

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Based on type, the market is bifurcated into:

• Prescription
• OTC

On the basis of glass type, the industry can be segmented into:

• Single Vision
• Progressive Lenses
• Bifocal Glasses
• Task-Specific
• Trifocal Glasses
• Others

By age group, the industry can be categorised into:

• Less Than 18 Years
• 18 To 64 Years
• 65 Years and Above

The market is divided based on distribution channel into:

• Ophthalmology Clinics
• Optical Stores
• Online Stores
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Growing Incidences of Ocular Disorders and the Rising Awareness Regarding Eye Care to Boost the Demand for Reading Glasses

The growing cases of ocular disorders such as presbyopia, and others is pushing the growth of the reading glasses industry forward. The growth is higher in the developing regions owing to the increasing awareness regarding eye care and rising access to the product. The increasing geriatric population across the globe is expected to significantly contribute to the growth of the industry.

Over the forecast period, the online stores are expected to generate higher revenue owing to the growing consumer preference for online sales channels due to the convenience factor. Further, the growing emphasis on technological innovations to provide low-cost and trendy spectacles with optimum quality is expected to have a positive effect on the expansion of the global reading glasses industry.

Key Industry Players in the Global Reading Glasses Market

The report gives a detailed analysis of the following key players in the global reading glasses market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• De Rigo Vision S.p.A.
• Bausch & Lomb Incorporated
• Zenni Optical, Inc.
• ThinkOptic, Inc.
• Hoya Lens Thailand Ltd
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report