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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Eyeglasses market. Market segmentation includes Product Segment (Lenses, Frames, and Sunglasses); Distribution Channel (Retail, and Online); Gender (Male, and Female).

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24 November 2:26 a.m., Silicon Valley, California - According to the new market research report, the global market for Eyeglasses is projected to grow at a CAGR of 5.0% to reach US$197.2 billion by 2027, driven by the rise in the number of individuals requiring vision correction and by the rising emphasis placed on eye protection. The global Eyeglasses market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Lenses, one of the segments analyzed and sized in this study, is forecast to grow at over 4.8% and reach a market size of US$76.9 billion by the end of the analysis period. The United States is forecast to readjust to a 4.5% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$11.1 billion growing at a CAGR of 4.3% over the next couple of years. In addition, over US$20.2 billion worth of projected demand in the region will come from Rest of European markets. In Japan, the Retail distribution channel segment will reach a market size of US$6.5 billion by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Male gender segment in this country against this backdrop will grow at a CAGR of 6.8% over the next couple of years to create an addressable market opportunity worth US$13.1 billion by the year 2027.

With the increasing number of cases of visual impairments due to myopia, hyperopia, presbyopia and astigmatism growing across the world, demand for eyeglasses and other vision correction modalities continues to grow. Prescription glasses market remains buoyant despite the high market penetration in most geographic regions, primarily due to demographic factors such as the urbanization, increase in per capita incomes, increasing access to healthcare, burgeoning ageing population, and the increasing incidence and prevalence of diabetes. Lifestyle conditions represent another major factor, with the increasing rate of office jobs, rising frequency of travel, and higher usage of electronics devices/appliances leading to a dramatic increase in exposure to harmful radiation from personal computers, smartphones, tablet PCs, televisions, CFL bulbs, and LEDs. Despite the high popularity of contact lenses as an alternative to spectacles, eyeglasses market continues to hold its own partly due to the ease of use associated with eyeglasses compared to contact lenses, as well as the improvement in technological and aesthetic qualities of eyeglass lenses and frames. Due to the low access to eye-testing facilities providing prescriptions, developing countries continue to be underpenetrated compared to developed economies. The improving public and private healthcare infrastructure in developing markets is therefore expected to benefit the prescription eyeglasses market in the near future. Besides vision correction, the role of eyeglasses in eye protection is also a significant factor boosting adoption. Technology developments have allowed the eyeglasses to provide comfort in better clarity of vision and safety from the growing threat of hazardous ultraviolet radiations and high-energy blue light in sunlight and artificial lighting sources. Growing consumer awareness about the harmful effects of UV rays such as lesions, chronic or acute ocular structure damage, cataract or even eye cancer, is propelling sales of protective eyewear. Though plano sunglasses are popular due to the UV-protection offered by the non-Rx (non-prescription) lenses, volume demand is weak, particularly in the organized sector across developing geographies. Nevertheless, the prices markup of plano sunglasses is substantially higher than regular eyeglasses owing to manufacturer and retailer branding. There has been a rise in the number of consumers increasing the frequency of replacement and opting for less expensive frames to follow the evolving fashion trends. While online sales are witnessing sharp growth, on the retail side there is a growing trend towards offering discounts to boost sales. Growth in the Sunglasses domain is more backed by fashion appeal rather than eye protection from UV rays. Emerging niches such as sports-specific or performance eyewear segments and the children's eyeglasses present remarkable market opportunities for the overall eyeglasses market in recent years.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 4422. Among this pool, 796 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 133 unique participations, a total of 61 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
Ermenegildo Zegna Holditalia SpA
Easy Power Ltd.
Eschenbach Optik GmbH
Eagle Safety Eyewear
Edward Beiner, Inc.
ELIZABETH AND JAMES HOLDINGS, LLC
Emerging Vision, Inc.,
Emilio Pucci Srl
Epoch Eyewear
Epokhe Australia

Segments Covered in the Report -
Product Segment (Lenses, Frames, Sunglasses)
Distribution Channel (Retail, Online)
Gender (Male, Female)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Australia
India
South Korea
Rest of Asia-Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East
Iran
Israel
Saudi Arabia
UAE
Rest of Middle East
Africa.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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