What is the global market size of Reading Glasses Market?

Global Reading Glasses Market size was valued at USD 41.12 billion in 2021 and is poised to grow from USD 43.33 billion in 2022 to USD 65.81 billion by 2030, growing at a CAGR of 5.6% in the forecast period (2023-2030).

Global Reading Glasses Market Size, Share, Growth Analysis, By Age group.(Less than 18 years, 18 to 64 years), By Type(Prescription Glasses, OTC Reading Glasses) - Industry Forecast 2024-2031

Report ID: SQMIG35A2592 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 63 | Figures: 75

Global Reading Glasses Market Regional Insights

North America dominated the global reading glasses market in 2021. Reading glasses have a significant market in the United States. This can be attributed to consumers' growing awareness of the importance of vision correction and the accessibility of eyeglasses. The rising prevalence of presbyopia in the US, it is expected to hold the top spot throughout the forecast period. It's more common than ever to experience eye issues today. Myopia, also known as near sightedness, affects over 33.1% of adults and approximately 41.9% of children in the United States. Additionally, the presence of reputable businesses with extensive distribution networks, high product costs, and rising sales of reading glasses made by premium brands will all help this reading glasses market expand in this region.

Asia Pacific reading glasses market is expected to grow during the forecast period. Rising prevalence of visual difficulties is causing the growth of the region. According to recent studies in China, 65.48% of high school students have myopia. Rising low-cost and semi-premium product launches to meet the needs of the masses in developing nations is the factor facilitating the growth of the market in the region. Due to rising consumer disposable incomes, supportive government initiatives, and expanding awareness of the importance of eye care, the industry is anticipated to expand significantly in developing regions like the Asia Pacific during the forecast period.

Global Reading Glasses Market Report Snapshots

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Global Reading Glasses Market size was valued at USD 41.12 billion in 2019 and is poised to grow from USD 43.33 billion in 2023 to USD 65.81 billion by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).

Global reading glasses market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Luxottica Group S.p.A', 'Essilor International S.A.', 'Carl Zeiss AG', 'Hoya Corporation', 'Johnson & Johnson Vision Care, Inc.', 'Safilo Group S.p.A.', 'CooperVision, Inc.', 'Alcon Vision LLC', 'Bausch & Lomb Incorporated', 'Marchon Eyewear, Inc.', 'Charmant Group', 'Marcolin Eyewear', 'De Rigo Vision S.p.A.', 'Rodenstock GmbH', 'Silhouette International Schmied AG', 'Grand Vision NV', 'Vision Express', 'Specsavers Optical Group Ltd.', 'Fielmann AG', 'EyeBuyDirect, Inc'

Increasing preference for prescription reading glasses to aid the growth of the reading glasses market. Since most people only need low-powered readers, reading glasses typically come in strengths of 1-3 and are rarely manufactured for strengths greater than 4. The prescription segment dominates the market in terms of type and is anticipated to continue dominating during the forecast period. This is due to consumers' increasing emphasis on finding reading glasses with better vision correction and frame fit. Because they are ready-made in nature, OTC reading glasses have the same corrective strength for both eyes and are of relatively poor quality. As a result, consumers are favoring prescription reading glasses more and more.

Use of ballistic and specialized glasses is expected to favor the market growth. When worn with even the slightest carelessness, daily-use eyeglass lenses frequently develop some dings or scratches. Many police and military professionals prefer to wear ballistic eyeglasses because they can be worn for longer periods of time and help to prevent eye trauma or injuries. Ballistic eyeglasses are available in different strengths. The optical sector is being revolutionized by sports eyewear. Nike's recent partnership with VSP's research lab to develop elite eyewear for athletes is a glaring example of the industry's versatility and diversity.

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Global Reading Glasses Market Size, Share, Growth Analysis, By Age group.(Less than 18 years, 18 to 64 years), By Type(Prescription Glasses, OTC Reading Glasses) - Industry Forecast 2024-2031

Global Reading Glasses Market Regional Insights

Global Reading Glasses Market Report Snapshots

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