Global Eyewear Market Size, Industry Growth and Outlook to 2024: Hexa Reports

Hexa Reports

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Eyewear Market Analysis, Share and Size, Industry Trends,

Growth, Overview And Segment Forecasts To 2024

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.

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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.

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

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lenses and constantly changing prescriptions. Additionally, the introduction of progressive and highindex 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...