Eyewear Market Analysis Report Business Overview, Challenges, Opportunities, Trends and Market Analysis by 2023


The global eyewear market is anticipated to grow in the coming half decade, due to increasing awareness of UV exposure dangers, rising number of visual deficiencies, demand for trendy sunglasses, and optical frames, along with increasing usage of contact lenses by individuals for medical, as well as personal use.

The demand for sunglasses emerges from the increasing consciousness of the ill effects of harmful UV rays, while the inclination of people towards new adopting fashion trends, has contributed to the growth of the global eyewear market. Contemporary innovations and technological advancements have added to the variety and quality of eyewear with an aesthetic appeal and style, making eyewear a personality enhancing accessory.
The global eyewear market can be categorized on the basis of functions into spectacles, and contact lenses. Contact lenses are a major medical invention, in the global eyewear industry. This medical advancement has significantly contributed to the global eyewear market. Demand for such novel innovations, are driven by affluent and aesthetic desires of societies. On one hand,the advancement in laser eye surgeries has restricted the growth of the eyewear market. The introduction of contact lenses has served an easy way for people to shun eyeglasses, without the need of laser treatment, thus propelling the growth of the global eyewear market.
The global eyewear market consists of concentrated international market players, as barriers within the entry are high, thus operating mostly as an oligopoly, with dominance of few large participants. However, there are still unaddressed niches in the eyewear industry making scope for new emerging business models and participants. Major Industry players are Essilor International, Luxottica Group SpA, Carl Zeiss, AG Marcolin S.p.A, and Marchon International Ltd among others.

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