The global eyewear market size is expected to reach USD 184.03 billion by 2024, according to a new report by Grand View Research, Inc. The increase in aging population and growing acceptance of eyewear, backed by rising disposable incomes of people worldwide are expected to play an important role in market growth. Moreover, growing awareness regarding proper eye health among the consumers is projected to strengthen the growth prospects over the forecast period. Read more: http://www.grandviewresearch.com/industry-analysis/eyewear-industry Vendors are increasingly adopting innovative distribution channels including strategies such as vertical integration for organizational growth. The internet retailing has gained increasing popularity amongst the consumers as it enables them to place online orders for eyewear at better prices as compared to the conventional brick and mortar stores.

1. Eyewear market size is expected to reach USD 184.03 billion by 2024
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The global eyewear market size is expected to reach USD 184.03 billion by 2024, according
to a new report by Grand View Research, Inc. The increase in aging population and growing
acceptance of eyewear, backed by rising disposable incomes of people worldwide are
expected to play an important role in market growth. Moreover, growing awareness
regarding proper eye health among the consumers is projected to strengthen the growth
prospects over the forecast period.
Vendors are increasingly adopting innovative distribution channels including strategies such
as vertical integration for organizational growth. The internet retailing has gained increasing
popularity amongst the consumers as it enables them to place online orders for eyewear at
better prices as compared to the conventional brick and mortar stores.
The increasing awareness regarding refractive surgeries, such as PRK and LASIK that reduce
or eliminate individual’s dependency on corrective eyeglasses is a major factor impeding the
industry growth. Such procedures are being progressively made affordable for a large
percentage of the population across the developing regions.

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Further key findings from the report:
•Spectacles, which comprise frames and lenses, contributed to over 50% of the global
eyewear market volume share in 2015 and are projected to witness stable growth owing
to the high replacement rate of lenses and constantly changing prescriptions.
Additionally, the introduction of progressive and high-index lenses has led to a surge in
demand and is projected to continue over the next eight years.
•Contact lenses contributed to over 30% of the global market volume share in 2015 and
are poised for steady growth throughout the next eight years on account of the high
degree of awareness among users coupled with the growing demand for the cosmetic
lenses among the younger population. Moreover, the introduction of innovative easy-to-
wear, cosmetic, and daily disposable lenses has positively impacted the sales of such
products.

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• The European eyewear market was valued at close to USD 40 billion 2015 and is
anticipated to witness steady growth throughout the forecast period.The presence of key
eyeglasses vendors, such as Safilo Group S.p.A and Luxottica Group S.p.A in the region is
anticipated to boost the regional eyeglasses sales volume in the coming years.The growth
prospects for the Asia Pacific eyewear market seem very bullish owing to increase in
purchasing power among consumers and wearer base expansion across the region.
•Market participants are emphasizing onsupply chain integration,product innovation, and
mergers and acquisitions, to gain a foothold in the industry. Establishment of an effective
distribution network is the key to achieving global market expansion. The key industry
participants include Luxottica Group S.p.A, Safilo Group S.p.A, Fielmann AG, CooperVision
Inc., and Bausch + Lomb Inc.

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Grand View Research has segmented the global eyewear market on the basis of
productand region:
Eyewear ProductOutlook (Volume, Million Units; Revenue, USD Million, 2014 - 2024)
Contact lenses
Spectacles
• Spectacle frames
• Spectacle lenses
Plano sunglasses
• By product

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o Polarized
o Non-polarized
•By material,
oCR-39
o Polycarbonate
o Polyurethane
o Others
Read more at: http://www.grandviewresearch.com/industry-analysis/eyewear-industry