Prescription Lens Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Single Vision, Bifocal, Convex, Concave, Cylindrical, Progressive, Workspace Progressives, Trifocal), By Application (Myopia, Astigmatism, Hyperopia/Hypermetropia, Presbyopia), By Coating (Anti-Reflective, Scratch Resistant Coating, Anti-Fog Coating, Ultraviolet Treatment), by re
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationPrescription Lens Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Single Vision, Bifocal, Convex, Concave, Cylindrical, Progressive, Workspace Progressives, Trifocal), By Application (Myopia, Astigmatism, Hyperopia/Hypermetropia, Presbyopia), By Coating (Anti-Reflective, Scratch Resistant Coating, Anti-Fog Coating, Ultraviolet Treatment), by re
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 43.13 billion |
| CAGR (2023-2028) | 4.80% |
| Fastest Growing Segment | Single Vision |
| Largest Market | North America |
Market Overview
Global Prescription Lens Market was valued at USD 43.13 billion in 2022 and is anticipated to witness an impressive growth in the forecast period with a CAGR of 4.80% through 2028.
The global aging population is more susceptible to age-related vision issues, particularly presbyopia. This demographic trend drives the demand for multifocal and progressive lenses. Prolonged use of digital devices, including smartphones, computers, and tablets, has led to an increase in eye strain and digital eye fatigue. This, in turn, drives demand for prescription lenses to alleviate these issues. Advancements in lens technology, including high-index materials, anti-reflective coatings, and lens design improvements, enhance the comfort, aesthetics, and functionality of prescription lenses, encouraging their adoption. Growing disposable income levels in many regions enable consumers to invest in high-quality prescription lenses with advanced features, such as UV protection and anti-scratch coatings. The need for myopia management options, such as specialty contact lenses and orthokeratology, is growing due to the increasing rates of myopia. This drives innovation and demand in the prescription lens market.
Key Market Drivers
Technological Advancements
High-index materials allow for thinner and lighter lenses, reducing the thickness and weight of the lenses, especially for individuals with higher prescriptions. Free-form or digitally surfaced lenses use advanced computerized design and manufacturing processes to create highly customized lenses. They can correct higher-order aberrations, providing sharper and clearer vision, even in peripheral areas of the lens. Aspheric lenses have a flatter, more aesthetically pleasing front surface that minimizes the bug-eye effect and distortion, especially in high prescription lenses. This technology measures and corrects optical distortions in individual prescriptions, resulting in sharper and more precise vision. It is often used in custom and wavefront-guided lenses.
Anti-Reflective (AR) Coatings reduce reflections and glare on the lens surface, improving visual clarity, reducing eye strain, and enhancing the appearance of the eyeglasses. Lenses with blue light-blocking coatings or materials help reduce eye strain and potential long-term damage caused by prolonged exposure to digital screens. Many prescription lenses now come with built-in UV protection to safeguard the eyes from harmful ultraviolet rays. These lenses automatically darken in response to UV light and lighten in indoor or low-light conditions, providing convenience and protection against sunlight. Advanced coatings make lenses more durable and less prone to scratching, prolonging their lifespan. These coatings repel water, oil, and dirt, keeping the lenses clean and clear even in challenging conditions.
Lenses made from impact-resistant materials, such as Trivex and polycarbonate, offer greater safety and durability, making them suitable for sports and safety eyewear. Advanced lens designs provide smooth transitions between different prescription strengths for distance, intermediate, and near vision. They offer more natural and comfortable vision correction for presbyopia. Specialized lenses and treatments are found at to slow the progression of myopia in children and adolescents, such as orthokeratology (Ortho-K) lenses and multifocal soft lenses. Ongoing research and development are focused on smart lenses with features like augmented reality (AR) displays and heads-up information for various applications, including healthcare and sports. The eyewear industry is exploring eco-friendly materials and production processes to create more sustainable prescription lenses, addressing environmental concerns. This factor will help in the development of the Global Prescription Lens Market.
Rising Digital Device Usage
Prolonged use of digital devices, such as smartphones, tablets, and computers, can lead to digital eye strain or computer vision syndrome. This condition causes symptoms like eyestrain, headaches, and blurred vision, prompting individuals to seek prescription lenses to alleviate these issues. Digital devices are typically used at close distances, which can place a higher demand on the eye's focusing system. This can lead to an increased need for prescription lenses to correct for nearsightedness or astigmatism. As individuals age, they often develop presbyopia, which impairs their ability to focus on close-up objects. People in their 40s and beyond may require reading glasses or multifocal lenses to view digital screens comfortably.
The pervasive use of digital devices in work, education, entertainment, and communication has led to a substantial increase in screen time. More screen time equates to a higher risk of developing vision issues, fueling the demand for prescription lenses. Research suggests a correlation between increased screen time, especially in childhood, and a higher risk of myopia (nearsightedness). Individuals with myopia often require prescription lenses for distance vision, such as when viewing digital screens. The need to frequently shift focus between digital screens and other tasks has driven the demand for multifocal or progressive lenses, which allow individuals to view both near and distant objects clearly.
The blue light emitted by digital screens has raised concerns about its potential impact on eye health. Some prescription lenses now incorporate blue light-blocking coatings to reduce the strain associated with prolonged screen use. Many individuals who experience digital eye strain or related symptoms undergo regular eye exams. Eye care professionals often recommend prescription lenses tailored to their specific needs, including anti-reflective coatings for reducing glare. Clear vision is essential for professional work and educational endeavors, and prescription lenses help individuals perform optimally and comfortably in these settings. Growing awareness of digital eye strain and the importance of eye health has encouraged individuals to seek vision correction through prescription lenses. Technological innovations in lens design and materials have improved the comfort and visual clarity of prescription lenses, making them more appealing for digital device users. This factor will pace up the demand of the Global Prescription Lens Market.
Increasing Awareness of Eye Health
Increased awareness of the importance of eye health encourages individuals to schedule regular eye exams with optometrists and ophthalmologists. These examinations often result in the prescription of corrective lenses when vision issues are detected. Regular eye check-ups help detect vision problems at an early stage, which enables prompt treatment and correction. The awareness of the benefits of early detection and correction drives the demand for prescription lenses. Many individuals are proactively seeking eye care as a form of preventative healthcare. They understand that addressing vision issues promptly can prevent further complications and discomfort, leading to the use of prescription lenses. As people become more aware of digital eye strain associated with prolonged screen time, they are increasingly seeking prescription lenses to alleviate eye discomfort and fatigue.
Awareness of the potential harm caused by ultraviolet (UV) rays to the eyes has driven demand for prescription lenses with built-in UV protection, especially in sunglasses and outdoor eyewear. With the growing awareness of the potential negative effects of blue light from digital screens, there is an increased demand for prescription lenses with blue light-blocking coatings to reduce eye strain and discomfort. The aging population is more aware of age-related vision changes and the need for vision correction. As individuals age, they become more proactive in seeking prescription lenses to maintain good vision. Parents are increasingly aware of the importance of regular eye exams for their children. The early detection of vision problems in children often leads to the prescription of corrective lenses to address issues like myopia.
Educational programs and public health campaigns often focus on promoting eye health and regular eye check-ups, increasing awareness of the need for prescription lenses when vision issues are present. Information about eye health and vision correction is readily found at through various media, including the internet, healthcare providers, and public awareness campaigns. This information empowers individuals to make informed decisions about their eye health. Awareness of the importance of clear vision for professional success and social interactions drives the demand for prescription lenses, ensuring individuals can perform optimally and comfortably in various aspects of their lives. Good vision is closely associated with a higher quality of life, independence, and overall well-being. Individuals are more aware of how prescription lenses can enhance their quality of life by providing clear and comfortable vision. This factor will accelerate the demand of the Global Prescription Lens Market.
Key Market Challenges
Market Saturation
In many mature markets, a significant portion of the population already wears prescription lenses, leading to a plateau in new customer acquisition. A substantial portion of individuals with refractive vision problems have already received vision correction. This includes individuals with myopia, hyperopia, astigmatism, and presbyopia. Prescription lenses have a relatively long product lifespan, and consumers do not need to replace them frequently, further limiting the number of new customers entering the market.
Eye care professionals often establish long-term relationships with patients. Once a patient has obtained prescription lenses, they tend to return for replacements and follow-up appointments, but this may not significantly expand the customer base. In mature markets, the population growth rate is typically low. As a result, there may be limited potential for significant market expansion. Certain geographic regions, particularly urban and suburban areas, may have a higher saturation level than rural areas, where access to eye care professionals can be limited. Intense competition in the prescription lens market can lead to price pressure, reducing profit margins and making it challenging for companies to grow. Some individuals with vision issues may opt for alternative solutions, such as contact lenses or refractive surgery, instead of traditional prescription lenses.
Counterfeit Products
Counterfeit prescription lenses may not meet the safety and quality standards required for genuine products. These substandard lenses can lead to discomfort, poor vision correction, and even eye health risks. Wearing counterfeit prescription lenses can harm the eyes and may lead to eye infections, irritation, or even more severe eye conditions, risking the wearer's vision and overall eye health. Consumers may unknowingly purchase counterfeit prescription lenses, believing them to be genuine. This can lead to dissatisfaction, frustration, and damage to the reputation of legitimate brands.
Counterfeit products divert sales and profits away from legitimate manufacturers and distributors, resulting in financial losses and harming the growth of the genuine prescription lens market. The presence of counterfeit products can damage the reputation of established and reputable prescription lens manufacturers, causing consumers to question the authenticity and quality of genuine products. Counterfeit products create confusion in the marketplace, making it difficult for consumers to distinguish between genuine and fake prescription lenses. This can undermine trust in the industry. Counterfeit prescription lenses infringe upon the intellectual property rights of legitimate manufacturers, impacting innovation and research efforts. The sale of counterfeit prescription lenses may encourage illegal and unregulated distribution channels, raising concerns about consumers' safety and well-being.
Key Market Trends
Customization
The most fundamental aspect of customization involves crafting prescription lenses that precisely match an individual's vision correction needs. This includes addressing conditions such as myopia, hyperopia, astigmatism, and presbyopia with precision. Consumers can select the material and coatings that best suit their lifestyle and preferences. Options include high-index materials for thinner lenses, anti-reflective coatings for reduced glare, and blue light-blocking coatings for digital eye strain relief. Customization extends to the design of the lens. Consumers can choose from single vision lenses, multifocals, progressives, and other specialized designs that align with their specific visual requirements. Customized lenses can be tailored to fit specific frame styles, ensuring a comfortable and aesthetically pleasing fit. This is particularly important for rimless or semi-rimless frames.
Many consumers seek customized prescription lenses that align with their fashion preferences. Customization options include lens color, tints, and personalized engravings. Consumers can opt for customized blue light filters that cater to their level of exposure to digital screens and other sources of blue light. Customization allows for the selection of materials and thicknesses to make lenses as thin and lightweight as possible while ensuring effective vision correction.
Segmental Insights
Type Insights
In 2022, the Global Prescription Lens Market largest share was held by single vision prescription lens segment and is predicted to continue expanding over the coming years.
Application Insights
In 2022, the Global Prescription Lens Market largest share was held by myopia segment and is predicted to continue expanding over the coming years.
Coatings Insights
In 2022, the Global Prescription Lens Market largest share was held by
Regional Insights
The North America region dominates the Global Prescription Lens Market in 2022.
Recent Developments
- In September 2023, IbisVision, a company based inScotland, has introduced its online eye care technology at Vision Expo West,enabling optometrists to remotely determine prescription lenses. The recentlylaunched IbisConnect platform relies on an internet connection and acost-effective proprietary remote refraction tool, offering an expanded set of11 distinct eye exams compared to its initial single test. This intuitiveinterface yields high-quality patient readings, building upon IbisVision'sexisting internet platform.
- In September 2023, Zenni Optical, a prominentonline eyewear retailer globally, has entered a partnership with Meta to supplyVR prescription lens inserts designed for the Meta Quest 3 headset. These ZenniVR Prescription Lenses for Meta Quest 3 are specifically crafted to fit theMeta Quest 3, providing a seamless and comfortable VR experience at anaffordable cost. They cater to the 66% of American adults who requirecorrective eyewear. These lenses are lightweight, cost-effective, simple toinstall, and customized to each user's unique prescription. Zenni's VRPrescription Lenses enhance the viewing experience, eliminating the need forwearing glasses during VR use.
- In April 2023, Essilor Ltd has launched a new digitalmedia campaign for its Varilux brand with the aim of increasing awareness ofthese lenses among individuals with presbyopia. The company has created digitalassets that are accessible for eye care professionals (ECPs) to download anduse on their social media platforms to highlight the advantages of Variluxlenses to a target audience aged 40 and older, who may find progressive lensesbeneficial. The campaign is anticipated to generate over 42 million adimpressions, with an estimated 191,000 clicks on the advertisement, asdisclosed by the company.
Key Market Players
- Essilor Ltd
- ZEISS Group
- HOYA Corp.
- VISION EASE
- SEIKO OPTICALPRODUCTS CO., LTD.
- Privé Revaux
- Vision Rx Lab
| By Type | By Application | By Coating | By Region |
|
|
|
|
Report Scope
In this report, the Global Prescription Lens Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below
- Prescription Lens Market, By Type
o
o
o
o
o
o
o
o
- Prescription Lens Market, By Application
o
o
o
o
- Prescription Lens Market, By Coating
o
o
o
o
- Prescription Lens Market, By Region
o
o
o
o
o
Competitive Landscape
Company Profiles
found at Customizations
Company Information
- Detailed analysis and profiling of additional market players (up to five).
Global Prescription Lens Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy