Eyewear consists of items & accessories worn over or on the eyes, for protection against the environment, fashion or adornment, and to improve or enhance visual acuity. It includes lenses, spectacles, and sunglasses worn for vision correction & protection of eyes from harmful ultra violet (UV) lights or dust particles.
According to study, “Global Premium Eyewear Market Size study, by Type (Prescription Eyeglasses, Sunglasses), by Application (Young Adults, Adults, Mature Adults, Seniors) and Regional Forecasts 2018-2025” some of the major companies that are currently working in the global premium eyewear market are Luxotica Group S.p.A, Grand Vision, Essilor International, Carl Zeiss AG, Formosa Optical, Charmant, Hoya Corporation, De Rigo S.p.A, Safilo Group S.p.A, Indo Internacional, TEK Optical Canada, CIBA Vision, Johnson & Johnson, Marchon, Coopervision, GBV, Bausch & Lomb, Fielmann AG. All these manufacturers offer innovative spectacles & lenses, due to availability of lightweight materials and technological advancements.
Based on type, global premium eyewear market is segmented into sunglasses and prescription eyeglasses. Based on distribution channel, market is alienated into hospitals, multi-brand stores, company outlets or franchises, clinics and e-commerce or online. Based on application, market is characterized as adults, young adults, mature adults and seniors.
These days vision problems are general in both the male & female population across the world. The anxieties related with eyes of or problem seeing may vary significantly in proportion of harshness beginning from negligible blurred vision to complete blindness. The age-related macular degeneration and diabetic retinopathy is the most common ocular conditions. The vision limitation is the most common concern in females as compared to the male population and impact to older individuals which raise the usefulness of eyewear & further positively manipulate the growth & development of premium eyewear market.
The global premium eyewear market is driven by the rise in urbanization. Some of the other driving aspects include high healthcare expenditure in emerging markets, escalating disposable income of the individuals, upsurge in elderly populace & extended live expectancy and growing middle class population. The old aged people are liable to experience a large gamut of vision related problems such as cataract and presbyopia, thereby fostering a mounting demand for eyewear. Apart from advantages, some of the challenges include increasing number of refractive eye surgery and availability of counterfeiting eyewear. Additionally, some of the new trends are high prevalence of myopia & high myopia and escalating online eyewear retail channel.
North American region is a significant region across the world of this market. Whereas, due to the countries such as Japan, China, and India, Asia Pacific region is expected to exhibit higher growth rate over the projected period 2018-2025. In addition, the Europe region is expected to be the top growing region on account of escalating eye related disorders & diseases mainly in the countries such as France, Germany, United Kingdom and Spain. It is estimated that the global premium eyewear market will be reached at US $226.6 billion, by 2025. In upcoming years, it is probable that this market will be grown fast owing to rising hope on electronic gadgets which includes tablets, mobile phones television & computers which has resulted into vision concerns & has paved mode for the adoption of eyewear product
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