Reading Glasses Market to Reach USD 53.23 Billion by 2026; Rising Advancements in Creating Unique Frames to Propel Growth

The global reading glasses market size is projected to reach USD 53.23 billion by 2026. It is set to gain traction from the ongoing advancements in the material of eyeglass frames. Manufacturers are using stainless steel, titanium, and polycarbonate to cater to the rising demand for trendy eyeglass frames. Fortune Business Insights™ mentioned this information in a recent study, titled, “Reading Glasses Market Size, Share & Industry Analysis, By Age Group (Less than 18 years, 18-64 years, and 65 years and above), By Type (Prescription Reading Glasses and OTC Reading Glasses), By Distribution Channel (Retail Stores, Online Sales Channels, Ophthalmology Clinics), and Regional Forecast, 2019-2026.” The study further states that the market stood at USD 34.92 billion in 2018. However, it is set to exhibit a CAGR of 5.4% during the forecast period between 2019 to 2026.

VPS Global Purchases Visionworks to Strengthen its Position

In June 2019, VSP Global, a vision care health insurance company headquartered in Netherlands, announced that it is set to buy Visionworks, a San Antonio-based company that is considered to be one of largest retail optical chains of the nation. It would enable VSP to fulfil its goal of providing access to high-quality and cost-effective eyewear, as well as eye care to maximum people.

Visionworks, on the other hand, would be benefitted by strengthening its values and goals. The company possesses more than 700 optical stores in around 30 states worldwide. It is also planning to broaden its innovative operations. It would soon triple the size of its innovation center by moving its office to a 16,200-square-foot venue in Sacramento. There, it would focus on creating new technologies for the physical and digital aspects of eye care and eyewear.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/reading-glasses-market-102606

Rising Geriatric Population to Accelerate Growth

The World Health Organization mentioned that the total population of the world belonging to the age group of 60 years and older would reach 2 million by 2050, from 900 million in 2015. It proves that the rising geriatric population worldwide is set to drive the reading glasses market growth in the coming years. It would occur as old age is degenerating the eyes and causing numerous visual disabilities. The incidence of presbyopia is also becoming higher among the adults. Youngsters nowadays are extensively using computers, smartphones, and other similar gadgets, which, in turn, would contribute to the growth. However, in the developing countries, poor access to corrective lenses may obstruct growth.

Key Players

Fortune Business Insights™ provides a list of organizations operating in the reading glasses market. They are as follows:

•  Hoya Corporation
• Bausch & Lomb Incorporated
• Johnson & Johnson Services, Inc.
• EssilorLuxottica
• De Rigo Vision S.p.A.
• ThinkOptic, Inc.
• ZENNI OPTICAL, INC.
• Carl Zeiss
• Other prominent players

Significant Industry Development

• June 2019: FGX International, a designer and marketer of non-prescription reading glasses headquartered in the U.S., teamed up with RestoringVision, a non-profit global health organization to unveil the first Reading Glasses Day on June 7, 2019. Both organizations would create awareness regarding the unavailability of reading glasses in the emerging economies and the positive impacts of using reading glasses.

Further Report Findings-

• North America held USD 14.32 billion in 2018 in terms of reading glasses market revenue. It would dominate in the coming years owing to the increasing sales of premium eyeglasses in this region.
• Europe to remain in the second position because of the rising prevalence of refractive errors amongst the geriatric population.
• Based on age group, the 18 to 64 years segment generated 65.26% reading glasses market share in 2018 owing to the increasing incidence of various visual impairments amongst this group.

The reading glasses market can be segmented in the following way: