The worldwide market size for reading glasses was USD 34.92 billion in 2018 and is expected to reach USD 53.23 billion by 2026, showing a compound annual growth rate (CAGR) of 5.4% during the forecast period.
Reading glasses are a type of eyewear used to assist with vision when a person experiences difficulty reading. This can be due to various eye conditions, such as hyperopia, astigmatism, presbyopia, and others. The increasing prevalence of these conditions, particularly among the elderly population, is expected to boost the demand for reading glasses worldwide. The market is primarily driven by developed regions due to the high adoption of premium branded products and the strong growth of over-the-counter (OTC) readers in these areas.
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They have provided accurate and reliable market data and useful recommendations with an aim to help the players gain an insight into the overall present and future market scenario. This report comprises an in-depth study of the potential segments including product type, application, and end-user, and their contribution to the overall market size. The report provides an accurate and professional study of The complex analysis of opportunities, growth factors, and future forecasts presented in simple and easy-to-understand formats. The report covers the Reading Glasses Market by developing technology dynamics, financial position, growth strategy, and product portfolio during the forecast period.
Reading Glasses Market report covers the different market scenarios that have a direct impact on the growth of the market. The report is structured with the meticulous efforts of an innovative, enthusiastic, knowledgeable, and experienced team of analysts, researchers, industry experts, and forecasters.
The report includes the SWOT analysis, PESTLE analysis, predictive analysis, real-time analysis, revenue share, market size, the competitive market scene, market opportunities, key strategies such as partnership, collaboration, mergers, and acquisitions that have been taken by key players to improve their market position and strengthen their presence in the world market.
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A list of some players that are profiled in the report includes
- Bausch & Lomb Incorporated.
- EssilorLuxottica
- Carl Zeiss
- Johnson & Johnson Services, Inc.
- Hoya Corporation
- De Rigo Vision S.p.A.
- ZENNI OPTICAL, INC.
- ThinkOptic Inc
- Other prominent players
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Market Drivers:
In recent years, there has been a shift in the demographic makeup of developed regions toward an aging population, particularly among those over 40 years old. The World Health Organization predicts that by 2050, the global population aged 60 years and older will reach 2 billion, up from 900 million in 2015. As people age, their eyes may degenerate, leading to visual impairments such as difficulty in reading small print or objects. The prevalence of presbyopia is increasing significantly among adults, with the American Academy of Ophthalmology reporting that in 2015, 1.8 billion people (25%) globally had presbyopia, and 45% of them had an unmet need for presbyopia correction. Additionally, corneal astigmatism is commonly found in older individuals. Therefore, the growing aging population, increasing prevalence of ocular disorders, and rising use of mobile devices, computers, and other gadgets are expected to drive the growth of the reading eyeglasses market in the coming years.
Region-Wise Classification of the Reading Glasses Market:
- The Middle East and Africa (Turkey, GCC Countries, Egypt, South Africa)
• North America (United States, Mexico, and Canada)
• South America (Brazil, Argentina, Dominican Republic etc.)
• Europe (Germany, Russia, UK, Italy, France, etc.)
• Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
The report’s conclusion reveals the overall scope of the global Reading Glasses Market in terms of the feasibility of investments in the various segments of the market, along with a descriptive passage that outlines the feasibility of new projects that might succeed in the market in the near future. The global Reading Glasses Market is studied on the basis of pricing, dynamics of demand and supply, total volume produced, and the revenue generated by the products. Manufacturing is studied with regard to various contributors such as manufacturing plant distribution, industry production capacity, and R & D. It also provides market evaluations including SWOT analysis, investments, returns analysis, growth, and trend analysis.
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