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The global reading glasses industry is being driven by the increasing cases of visual disorders among individuals of all age groups. The ocular disorders like presbyopia particularly affects the geriatric population and reduces their ability to focus on nearby objects, thus, making it difficult for them to read small prints. The increasing standards of living, rising awareness regarding eye care, and escalating consumer disposable incomes are significantly contributing to the growth of the reading glasses industry. Moreover, the rising demand for comfortable and attractive eyeglasses is compelling manufacturers to focus on product innovations and new designs. The rapid technological advancements and the advent of IoT is further helping manufacturers to target online buyers by providing options like 3D try on, home eye test, and others. This is expected to have a positive impact on the industry in the forecast period.
Moreover, the growing focus of leading players to increase their penetration in key developing markets is also aiding the industry growth. In June 2019, FGX International collaborated with Restoring Vision to introduce the first-ever reading glasses day on 07 June with the aim to increase awareness regarding the lack of access to reading glasses in developing nations. It further aims to educate people regarding the positive effect of reading glasses on an individual and its ability to restore the clear vision. Meanwhile, the increasing availability of OTC reading glasses through online platforms like Amazon.com, Inc. (NASDAQ: AMZN) and others are also contributing to the market growth. Such developments are expected to enhance the demand for reading glasses in the forecast period.
Market Breakup by Type, Glass Type, Age Group, Distribution Channel, and Region:
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The major players in the global reading glasses market are De Rigo Vision S.p.A., Bausch & Lomb Incorporated, Zenni Optical, Inc., ThinkOptic, Inc., and Hoya Lens Thailand Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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