Eyewear is made out of various embellishments and things worn either above or beneath the eyes, planned principally for ornamentation or style, assurance from the climate, and just to upgrade or improve visual keenness. It could be as covers, groups, or some other headgear. They are accessible in a wide assortment of tones and styles, with a wide scope of materials. For instance, you will find that on the off chance that you need to look cool and elegant at a dance club or in a stylish metropolitan design store, at that point the most reasonable eyewear for you are those with out of control, exceptional, and eye-getting plans.
Remedy eyeglasses, contact focal points, and wellbeing glasses have all been planned with one basic factor - to offer most extreme insurance from eye wounds and harm. There are loads of decisions with regards to picking the correct sort of eyewear. For instance, there are bifocals, spectacles, reformists, and pretty much some other plan you can consider.
Market Dynamics
Approval and launch of new products is expected to propel growth of global eyewear market over the forecast period. For instance, in November 2019, CooperVision received U.S. Food and Drug Administration (FDA) approval for its MiSight 1 day contact lens that is indicated to slow the progression of myopia in children 8-12 years old. Moreover, increasing geriatric population is also expected to boost demand for contact lenses. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.
Increasing prevalence of eye diseases is expected to offer lucrative growth opportunities for players in the global eyewear market. For instance, according to National Eye Institute’s projections, the number of people in the U.S. with cataract is expected to reach 50 million in 2050. Moreover, increasing awareness about vision care is also expected to aid in growth of the market. For instance, in February 2020, Essilor Vision Foundation, through its Vote for Vision campaign, encouraged the populace to get an eye exam in 2020.
Competitive Analysis
Key players operating in global eyewear market include, Luxottica Group SpA, Essilor International S.A, Carl Zeiss AG, Hoya Corporation (Life Care), Johnson & Johnson Vision Care, Inc., Cooper Companies Inc., Fielmann AG., Safilo Group Spa, Marcolin S.p.A., De Rigo S.p.A.
Major players in the global eyewear market are focused on launching various services to enhance their market share. For instance, in August 2020, Johnson & Johnson Vision released resources to enhance the contact lens experience in terms of comfort, safety and accessibility.
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