Europe Prescription Spectacles Market Size to Hit $31.89 Billion by 2027; Growing Demand for Anti-Reflective Lenses to Surge Demand

The Europe prescription spectacles market size is expected to showcase considerable growth by reaching USD 31.89 billion by 2027. This growth is attributable to the growing demand for anti-reflective lenses backed by the increasing focus on improving night vision in the region. Fortune Business Insights, published this information in its latest report, titled, “Europe Prescription Spectacles Market Size, Share & Covid-19 Impact Analysis, By Age Group (Less than 18 Years, 18-45 Years, and 45-55 Years, more than 55 Years), By Product {Lenses (Single Vision, Bifocal, and Progressive)} and Frames (Total Metal, Combination, Plastic, Rimless, and Others), By Application (Myopia, Presbyopia, Others), By Distribution Channel (Ophthalmic Clinics, Retail Store, and Online Stores) Forecast, 2020-2027.” The report further observes that the market stood at USD 23.92 billion in 2019 and is likely to exhibit a CAGR of 5.2% between 2020 and 2027.

MiYoSmart with D.I.M.S. Technology Launched by HOYA Vision Care to Reduce Myopia Progression

In June 2020, after years of academic study, clinical research, and product design, HOYA Vision Care Canada announces the launch of MiYOSMART lenses equipped with D.I.M.S technology in Canada. The Defocus Incorporated Multiple Segments (D.I.M.S) technology aids in slowing down the myopia progression, along with axial elongation in children aged 8 to 13. In addition to this, MiYOSMART lenses are an efficient non-invasive procedure to manage myopia and provide durability and UV protection capability for the wearer.

The growing focus on developing innovative products is expected to favor the growth of the market for Europe prescription spectacles during the forecast period.

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https://www.fortunebusinessinsights.com/europe-prescription-spectacles-market-104521

Increasing Demand for Anti-Reflective Lenses to Accelerate Growth

The coating on the lenses aid in enhancing its durability, performance, and appearance. The growing incidence of ophthalmic disease amongst the European population is driving the demand for superior quality anti-reflective lenses. These lenses provide better vision while reading or using a computer, and further provides better vision during night driving. Owing to these benefits, the Europe prescription spectacles sales is likely to gain traction in the forthcoming years. Additionally, the increasing prevalence of the geriatric population that require prescription eyeglasses owing to diminishing vision is anticipated to favor the Europe prescription eyeglasses market growth during the forecast period.

Strong Product Portfolio in Pipeline to Aid in Dominance of Key Players

The Europe prescription spectacles market is consolidated by the presence of major companies that are focusing on maintaining a stronghold by offering innovative products that is leading to significant growth of the Europe prescription spectacles portfolio. Additionally, adoption of strategies such as facility expansion and collaboration by other key players is expected to favor the market growth.     

Industry Development:

• January 2020: RODENSTOCK GMBH announced the launch of its new collection of spectacles with a mix of simple, unimposing and true eye-catching frames. The company aims to leverage the opportunity provided by the increasing demand for innovative products among the youth in Europe.

 List of the Companies Profiled in the Market for Europe Prescription Spectacles:

• Essilor Luxottica (California, U.S.)


• RODENSTOCK GMBH (Munich, Germany)


• Safilo Group S.p.A. (Padua, Italy)


• Younger Optics (Torrance, U.S.)


• Fielmann AG (Hamburg, Germany)


• Nikon Optical UK. LTD (Nikon Corporation) (Tokyo, Japan)


• Carl Zeiss Meditec Group (Oberkochen, Germany)


• Hoya Corporation (Tokyo, Japan)


• Other Prominent Players

Further Report Findings:

• Germany stood at USD 5.24 billion in the year 2019 and is expected to hold the largest share of the Europe prescription spectacles market in terms of revenue. This is attributable to the large presence of geriatric population in the country that is likely to favor the growth prospects of the Europe prescription spectacles products.


• The market in Italy is anticipated to showcase significant growth backed by the increasing awareness regarding eye care that is likely to boost the product adoption of the Europe prescription spectacles range between 2020 and 2027.


• The more than 55 years segment, based on age group, held a share of about 43.4% in 2019 and is expected to gain momentum in the forthcoming years. This is ascribable to factors such as an increasing number of the population under this age bracket that suffer from refractive error in vision in the region.

Table of Segmentation: