This market research report presents a detailed segmentation of the global glass lens market by product (progressive, single vision, and bifocal lens) and by geography (APAC, Europe, North America, and ROW). The leading vendors in the market are Essilor, HOYA, Luxottica, and ZEISS.
Technavio’s market research analysts predict the global glass lens market to grow at a CAGR of almost 4% between 2016 and 2020. The increased life expectancy due to the availability of better nutritional, medical, and sanitation facilities is the primary driver for this market. The resulting increase in the older population account for majority of the glass lens sales, subsequently contributing to the growth of the market across the world. The increase in the perseverance of diabetes is also expected to play a key driver for the global glass lens market during the forecast period. At present, North America dominates the market by accounting for almost 54% of the overall market share. The increasing prevalence of visual impairment brought on by ageing and obesity are some of the factors that will positively influence the growth of the market in this region in the coming years.
The new market research report from Technavio presents a breakdown and analysis of the glass lens segment by product.
“Vendors are venturing into the online retail space to conduct sales and provide information. Besides focusing on sales, vendors are also making use of the Internet and social media for promotional purposes. For instance, Facebook and other prominent social media platforms are being used for promoting awareness about computer vision syndrome. Another trend that is catching up is use of the Internet to compare prices and reviews amongst consumers,” Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
At present, the progressive lens segment dominates the global glass lens market with a revenue of almost 25%, and is expected to showcase steady growth over the forecast period. The ability of progressive lenses to provide a smooth transition from distance correction to near correction is encouraging its use as an alternative to bifocal and trifocal glass lenses. The availability of progressive lens that are ideal for computer use, for sports players with a wider intermediate zone and larger reading portion for readers is also expected to contribute to the growth of the market.
The key vendors in the global glass lens market are Essilor, HOYA, Luxottica, and ZEISS. This market is intensely competitive as the major players compete on the basis of aggressive pricing and bundling, efficient delivery services, and promotional strategies to gain a competitive edge over their rivals. In addition, vendors are also investing heavily in developing technologically advanced vision care products, strategizing marketing and promotions, and improving brand recognition as it will help them to bolster their hold over the market. With the advent of new technologies, vendors are coming up with a variety of eyewear, which will help them to meet end users’ requirements.
A more detailed analysis is available on the Technavio report, Global Glass Lens Market 2016-2020.
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