Global spectacles market is forecasted
to grow at the compounded annual growth rate of 3% and reach the
market value of $24 billion by the year 2016. This growth is mainly
driven by increasing number of population suffering from refractive
errors and rising awareness and cost effectiveness of eye care devices
over refractive surgeries. About one third of population aging more
than 40 years suffers from refractive errors in US and Western Europe.
Occurrence of myopia is higher, around 70-90% in some Asian countries.
Compared to men, females are at higher risk of developing refractive
errors. All these factors are together responsible for driving the
growth of spectacles industry all over the world. Currently remains the
largest contributor to the spectacles industry driven by increase in
aging population and brand consciousness among the consumers.
The US market for spectacles is
expected to reach $6 billion by the year 2016 at the CAGR of 4%.
Emerging economies like India and China are also expected to boost the
growth of spectacles market as a result of rising awareness among the
end users and increasing number of people suffering from eye related
disorders.
This research report analyzes this
market based on its market segments and major geographies. Geographies
analyzed under this research study are North America, Asia Pacific,
Europe, and Rest of the World.
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This research report provides complete
analysis of major market segments, current market trends, factors
driving market growth, restraints, industry structure, and market
projections for upcoming years. Report also provides analysis of
technological improvements in this industry, Porter’s five force model
analysis, and complete company profiles of top market players. It
provides review of micro and macro factors significant for existing
market players and new entrants along with detailed value chain
analysis.
Major Players
Some of the key players dominating
this market are Essilor International, Johnson & Johnson Vision
Care, CIBA Vision Corporation, HOYA Corporation, Carl Zeiss, Bausch
& Lomb, and others.
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- This report provides pin-point analysis for changing competitive dynamics
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