Market Analysis and Insights:
The market for prescription lenses was estimated to be worth USD 43.71 billion in 2022, and from 2023 to 2030, it is anticipated to grow at a CAGR of 5.21%, with an expected value of USD 65.93 billion in 2030.
The market for prescription lenses is experiencing growth due to various factors, such as the increasing prevalence of vision impairments like myopia, hyperopia, and presbyopia globally. The expanding elderly population is also playing a role in this market expansion as age-related vision issues become more prevalent. Technological advancements in lens materials and designs have resulted in enhanced visual clarity and comfort, leading to a higher demand for prescription lenses. The trend of eyewear as a fashion statement has further increased the demand for stylish and personalized prescription lenses. Additionally, the increasing awareness about regular eye examinations and the advantages of using corrective lenses are propelling market growth. With rising disposable incomes, prescription lenses have become more affordable and accessible to a broader demographic. Furthermore, the proliferation of e-commerce platforms has simplified the process of purchasing prescription lenses online, driving further growth in the market. Collectively, these factors are anticipated to continue driving the expansion of the prescription lens market in the foreseeable future.
Prescription Lens Market Scope:
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 65.93 billion |
| Growth Rate | CAGR of 5.21% during 2024-2030 |
| Segment Covered | By Type, By Application, By Application Method, By Lens-Coating ,By Region. |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Essilor International S.A., HOYA Corporation, Carl Zeiss AG, Luxottica Group S.p.A., Seiko Holdings Corporation, Nikon Corporation, Rodenstock GmbH, CooperVision, Shamir Optical Industry Ltd., and Zeiss International. |
Market Definition
Customized optical lenses, known as prescription lenses, are specifically tailored by an optometrist to address various visual deficiencies like myopia, hyperopia, and astigmatism. These meticulously crafted lenses are created to cater to the distinct prescription requirements of each individual, ensuring sharp and accurate eyesight. Customized prescription lenses are essential for people in need of vision correction as they are tailored to address individual refractive errors such as myopia, hyperopia, astigmatism, and presbyopia. These lenses not only provide clear and comfortable vision but also prevent eye strain, headaches, and other discomfort related to uncorrected visual impairments. Crafted with precision and advanced technology, prescription lenses optimize clarity, focus, and visual performance, ultimately enhancing daily activities, productivity, and overall quality of life by enabling individuals to see clearly.
Key Market Segmentation:
Insights On Key Type
Progressive
Progressive is expected to dominate the Global Prescription Lens Market. Progressive lenses, also known as multifocal lenses, offer a seamless transition between different vision corrections, allowing users to have clear vision at all distances near, intermediate, and far. With the rising prevalence of conditions such as presbyopia, a vision impairment that typically occurs with age, the demand for progressive lenses has been increasing. These lenses provide convenience and eliminate the need for multiple pairs of glasses, making them a popular choice among individuals with age-related vision problems. As a result, the Progressive is anticipated to dominate the Global Prescription Lens Market.
Single Vision
Single Vision lenses cater to individuals with a single vision prescription, either for distance vision or near vision. While this of the By Type category may not be expected to dominate the Global Prescription Lens Market, it still holds substantial significance. Single Vision lenses are commonly prescribed for those with myopia (nearsightedness) or hyperopia (farsightedness). These lenses provide clear vision at a specific distance and can be tailored to meet individual needs. Although other s like Progressive lenses might be gaining popularity, the demand for Single Vision lenses remains consistent due to their effectiveness in addressing specific vision issues.
Bifocal
Bifocal lenses are designed to correct two vision problems - typically presbyopia and either myopia or hyperopia. These lenses have a distinct line separating the two different prescriptions, usually dividing the lens into two halves. Bifocal lenses are typically prescribed for individuals who need both distance and near vision correction. While they are effective for this purpose, the dominance of the Global Prescription Lens Market is not expected for this . Progressive lenses offer a more seamless transition between distance and near vision, which makes them a preferred choice over bifocals for many individuals.
Trifocal
Trifocal lenses, as the name suggests, provide correction for three different distances - near, intermediate, and distance vision. These lenses have two visible lines on the lens, separating it into three specific areas for focusing at different distances. However, similar to bifocal lenses, the dominance of the Global Prescription Lens Market is not expected for this . Progressive lenses offer a smoother transition between distances, making them a more advanced and convenient option for individuals needing correction at multiple distances.
Workspace Progressive
Workspace Progressive lenses are designed for individuals who spend a significant amount of time using computers or working at close distances for extended periods. These lenses provide clear vision for intermediate and near distances, specifically targeting the visual needs of those working in an office environment. Although this offers a specialized solution for a specific population, it is not expected to dominate the Global Prescription Lens Market. The overall demand for Workspace Progressive lenses may be smaller compared to other s such as Progressive lenses, which cater to a broader range of vision correction needs.
Others
The "Others" includes prescription lenses that do not fall into the categories mentioned above. This may include special lenses for specific purposes, such as sports, safety, or specialized vision correction. While these lenses serve niche markets, they are not anticipated to dominate the Global Prescription Lens Market due to their specific applications and limited demand compared to the more widely used s like Progressive and Single Vision lenses.
Insights On Key Application
Presbyopia
Presbyopia is expected to dominate the Global Prescription Lens Market. Presbyopia is a condition that occurs with age and affects the ability to focus on nearby objects. As the global population ages, the prevalence of presbyopia is increasing, driving the demand for prescription lenses. The need for corrective eyewear to address presbyopia is high, and manufacturers are focusing on developing innovative lens technologies to cater to this specific . With a growing demographic of individuals with presbyopia, it is expected to be the dominating in the global prescription lens market.
Myopia
Myopia, also known as nearsightedness, is another significant in the Global Prescription Lens Market. With the rising prevalence of myopia, especially among younger populations worldwide, the demand for lenses to correct this condition is increasing. Factors such as increased screen time, sedentary lifestyles, and genetic predisposition contribute to the growing incidence of myopia. To cater to this , manufacturers are developing specialized lenses that offer better clarity and vision correction for myopic individuals.
Hyperopia/Hypermetropia
Hyperopia, or hypermetropia, is a in the Global Prescription Lens Market that addresses farsightedness. While presbyopia is more prevalent among the elderly population, hyperopia can affect both young and old individuals. The demand for prescription lenses to correct hyperopia is driven by difficulties in focusing on nearby objects and experiencing eyestrain. Manufacturers are developing lenses that offer better refractive correction for hyperopic individuals. However, compared to presbyopia and myopia, hyperopia may have a lesser dominating impact on the global prescription lens market.
Astigmatism
Astigmatism is a common refractive error that affects the curvature of the cornea or lens, leading to distorted or blurred vision. While astigmatism can be present in combination with myopia, hyperopia, or presbyopia, it is considered a separate in the Global Prescription Lens Market. However, the dominating impact of astigmatism on the market may be relatively lower compared to the other s. Nevertheless, there is still a demand for prescription lenses that can correct astigmatism and provide clear vision for individuals with this condition. Manufacturers are developing toric lenses specifically designed to address astigmatism and meet the needs of this .
Insights On Key Lens-Coating
Dominating:
Anti-reflective Coating Among the s of By Lens-Coating (Anti-reflective, Scratch Resistant Coating, Anti-Fog Coating, Ultraviolet Treatment), the Anti-reflective Coating is expected to dominate the Global Prescription Lens Market. This type of coating helps to reduce glare and improve visual clarity by minimizing reflections on the lens surface. With the increasing use of digital devices and screens, there is a growing demand for lenses that provide clear and comfortable vision, making anti-reflective coating a popular choice among consumers. Additionally, the anti-reflective coating enhances the aesthetic aspect of the lenses by reducing the distracting reflections on the surface, making them more desirable to customers. Its superior performance in reducing glare and improving visual comfort is expected to drive its dominance in the Global Prescription Lens Market.
Scratch Resistant Coating:
While scratch-resistant coatings play a crucial role in protecting lenses from everyday wear and tear, such as scratches and abrasions, they are not expected to dominate the Global Prescription Lens Market. Although the durability and longevity provided by scratch-resistant coatings are appreciated features, they are often considered as standard offerings along with other lens coatings. Hence, while important, the scratch-resistant coating is not expected to have a dominant presence in the market.
Anti-Fog Coating:
The Anti-Fog Coating , which prevents fogging on lenses in various conditions, is not expected to dominate the Global Prescription Lens Market. While this coating offers convenience and improved vision in specific situations, such as during temperature changes or physical activities, it caters to a niche market rather than a widespread demand. Although it provides added functionality to prescription lenses, its limited applicability restricts it from becoming the dominant in the market.
Ultraviolet Treatment:
Similarly, the Ultraviolet Treatment is not expected to dominate the Global Prescription Lens Market. The primary purpose of this coating is to protect the eyes from harmful ultraviolet (UV) rays. While UV protection is an essential feature for eye health, it is often considered a standard requirement for prescription lenses rather than a unique selling point. As a result, while all prescription lens manufacturers offer UV protection, it does not have a dominant presence compared to other s, as it is commonly included as a standard feature in most lenses.
Insights on Regional Analysis:
Asia Pacific is expected to dominate the Global Prescription Lens market. With a large population and increasing disposable income, countries in the Asia Pacific region have witnessed a significant rise in the demand for eyewear products, including prescription lenses. Moreover, the prevalence of vision-related disorders, such as myopia, is high in countries like China, India, and Japan, driving the need for prescription lenses. Additionally, the growing awareness about the importance of early detection and correction of vision problems is further fueling the demand for prescription lenses in the region. The presence of major eyewear manufacturers and the adoption of advanced manufacturing technologies also contribute to the dominance of the Asia Pacific region in the global prescription lens market.
North America:
North America is a prominent market for prescription lenses, driven by factors such as a high prevalence of vision problems, the aging population, and increasing awareness about eye care. The region is also home to several leading eyewear manufacturers and has a well-established distribution network. However, despite these factors, Asia Pacific is expected to surpass North America in terms of market dominance due to the higher population and growing eyewear market in the Asia Pacific region.
Latin America:
Latin America has been witnessing steady growth in the prescription lens market due to increasing consumer disposable income and rising awareness about the importance of eye health. However, the market in this region is comparatively smaller compared to Asia Pacific due to factors like lower population and fewer eyewear manufacturers. Therefore, it is unlikely that Latin America will dominate the global prescription lens market.
Europe:
Europe has a mature and well-established prescription lens market. Factors contributing to this include a high prevalence of vision disorders, well-developed healthcare infrastructure, and a strong presence of eyewear manufacturers. However, Europe is expected to be outpaced by the Asia Pacific region in terms of market dominance due to the larger population and growing demand for prescription lenses in Asia Pacific.
Middle East & Africa:
The prescription lens market in the Middle East and Africa region is relatively small compared to other regions. Factors such as a lower prevalence of vision problems, limited accessibility to eyewear products, and lower disposable income levels contribute to the smaller market size. As a result, it is unlikely that the Middle East & Africa region will dominate the global prescription lens market.
Company Profiles:
Prominent participants in the international prescription lens industry comprise Essilor International SA, Carl Zeiss AG, and HOYA Corporation. These influential entities are instrumental in the market, providing a diverse selection of top-tier prescription lenses and continually introducing advancements to address the changing demands of customers. Major stakeholders in the Prescription Lens Market consist of Essilor International S.A., HOYA Corporation, Carl Zeiss AG, Luxottica Group S.p.A., Seiko Holdings Corporation, Nikon Corporation, Rodenstock GmbH, CooperVision, Shamir Optical Industry Ltd., and Zeiss International. They are instrumental in providing diverse lens solutions and cutting-edge technologies tailored to address the requirements of consumers with different vision impairments. These market leaders, through their expansive network of distribution and ground-breaking product portfolios, are pivotal in propelling the advancement and expansion of the prescription lens sector on a worldwide scale.
COVID-19 Impact and Market Status:
The global market for prescription lenses has been substantially affected by the Covid-19 pandemic, with supply chain disruptions and decreased demand resulting from restrictions on non-essential services and economic challenges. The prescription lens market has faced notable challenges due to the impact of the COVID-19 pandemic. Restrictions hindering movement and the implementation of social distancing guidelines have resulted in a decrease in sales of prescription lenses as individuals are opting to minimize visits to eye care facilities and retail outlets. Moreover, the economic uncertainty brought about by the pandemic has prompted consumers to prioritize essential necessities like food and healthcare over the acquisition of prescription lenses. Closures of manufacturing facilities and disturbances in the global supply chain have further impeded the market's progression. Nevertheless, there has been a discernible shift towards online procurement of prescription lenses as consumers are valuing convenience and safety. Online platforms, offering services such as virtual try-ons and home delivery, have witnessed increased popularity during this period. While the prescription lens market is anticipated to gradually recover as the world adapts to the new normal, the restoration of customer confidence and purchasing power may be a gradual process.
Latest Trends and Innovation:
- In January 2020, EssilorLuxottica, a leading eyewear company, completed the acquisition of GrandVision, a global optical retailer, strengthening its position in the prescription lens market.
- In September 2020, HOYA Corporation, a major player in the precision optics industry, announced the acquisition of Performance Optics, a leading provider of optical lens solutions, expanding its portfolio and market reach.
- In November 2020, Zeiss, a renowned optics and optoelectronics company, introduced the Zeiss SmartLife lens portfolio, offering personalized prescription lenses optimized for digital devices and modern lifestyles.
- In January 2021, Johnson & Johnson Vision, a division of Johnson & Johnson, announced the acquisition of Menicon, a Japanese contact lens manufacturer, enhancing its presence in the prescription lens market.
- In February 2021, Shamir Optical Industry, a global leader in innovative optical solutions, launched Autograph Intelligence, a new lens design technology that combines artificial intelligence and advanced optics to provide personalized prescription lenses.
- In March 2021, Nikon Corporation, a multinational imaging and optics company, unveiled its SeeMax Progressive lens, featuring advanced optics and customization options for improved visual comfort and performance.
- In April 2021, Hubble, a start-up specializing in direct-to-consumer contact lenses, expanded its product offerings to include prescription lenses, aiming to disrupt the traditional prescription lens market.
- In May 2021, Carl Zeiss Meditec, a subsidiary of Zeiss, introduced the Zeiss Cataract Suite, a solution combining innovative lens implants and surgical planning software to enhance cataract surgery outcomes.
Significant Growth Factors:
Factors driving the expansion of the Prescription Lens Market encompass a rise in the prevalence of eye ailments, an expanding elderly demographic, and an increasing embrace of contemporary ophthalmic innovations. The market for prescription lenses is experiencing notable growth driven by various factors. One key factor is the rising incidence of vision-related conditions like myopia, hyperopia, and astigmatism worldwide, spurred by changing lifestyles, prolonged screen time, and genetic factors. Additionally, the increasing elderly population in developed nations adds to market expansion due to age-related vision issues becoming more prevalent.
Advancements in lens technology, icularly in materials and designs, have significantly contributed to market growth. High-index lenses, progressive, and multifocal designs offer consumers more options for vision correction, enhancing visual clarity, comfort, and aesthetics, thereby boosting demand for prescription lenses. Increased awareness regarding eye health and regular eye exams has also fueled market growth. Eye care professionals promoting routine check-ups have led to a higher diagnosis rate of refractive errors, expanding the prescription lens market. The rapid growth of e-commerce has made prescription lenses more accessible, providing cost-effective and convenient solutions. Online retailers offer customized lenses that can be ordered and delivered directly to customers, contributing to the market's expansion.
Restraining Factors:
Major challenges influencing the Prescription Lens Market consist of the elevated expenses associated with prescription lenses and the restricted availability in geographically isolated regions. The prescription lens industry is a rapidly expanding sector with promising potential, yet faces certain obstacles that could impede its development. A major challenge is the notable expense linked to prescription lenses due to the intricate technology, customization, and stringent quality standards involved in their production. This cost barrier can be icularly prohibitive for consumers in developing nations who may struggle to afford such high-priced lenses. Furthermore, limited accessibility to optometrists and eye care professionals in certain areas presents another hindrance. Access to these services is critical for individuals to receive accurate eye examinations and prescriptions, thus lack of access not only impedes market growth but also impacts overall eye health within communities. Moreover, the existence of counterfeit and low-quality products in the market poses a significant threat to the prescription lens industry as these items jeopardize individuals' vision and safety while undermining the credibility of reputable brands. Despite these challenges, the outlook for the prescription lens market seems positive. Advancements in technology and manufacturing processes are gradually driving down production costs, making prescription lenses more affordable. Additionally, efforts by governments and non-profit organizations to enhance access to eye care services are anticipated to improve accessibility and stimulate market expansion. Increasing awareness about ocular health and the importance of regular eye examinations also presents opportunities for the prescription lens sector to broaden its consumer base. In conclusion, despite facing challenges, the prescription lens market exhibits substantial growth prospects supported by various factors that can help surmount the current restraints and propel advancement.
Key Segments of the Prescription Lens Market
Lens Type Overview
• Single Vision Prescription Lens
• Bifocal Prescription Lens
• Trifocal Prescription Lens
• Progressive Prescription Lens
• Workspace Progressive Prescription Lens
• Others
Application Overview
• Myopia Prescription Lens
• Hyperopia/Hypermetropia Prescription Lens
• Astigmatism Prescription Lens
• Presbyopia Prescription Lens
Lens-Coating Overview
• Anti-reflective Coating Prescription Lens
• Scratch Resistant Coating Prescription Lens
• Anti-Fog Coating Prescription Lens
• Ultraviolet Treatment Prescription Lens
Regional Overview
North America
• US
• Canada
• Mexico
Europe
• Germany
• France
• U.K
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
Middle East and Africa
• Saudi Arabia
• UAE
• Rest of Middle East and Africa
Latin America
• Brazil
• Argentina
• Rest of Latin America
Frequently Asked Questions (FAQ) :
The market value of prescription lens market in 2030 was USD 65.5 billion
The major contenders in the global market are Essilor International S.A., HOYA Corporation, Carl Zeiss AG, Luxottica Group S.p.A., Seiko Holdings Corporation, Nikon Corporation, Rodenstock GmbH, CooperVision, Shamir Optical Industry Ltd., and Zeiss International.
The base year for the report is 2023 in prescription lens market
The presence of online services for vision research, along with the integration of advanced technology and the advancement of improved prescription lenses, is expected to fuel market growth. Visibly is developing digital eye care technology that can be used by anybody, at any time and in any place. One of the successful actions taken by the organisation to make eye treatment affordable and easy is online vision testing. These online assessments are intended to aid in the rapid detection of refractive errors, thus encouraging the use of prescription lenses to treat them. Additionally, people who spend long periods of time in front of screens develop a variety of eye disorders. As a result, businesses are developing new technologies to improve prescription lenses that can shield people from toxic electronic radiation. A prescription lens made especially for electronic use is available from GUNNAR Optiks. Blue light blocking technology, as well as other lens developments, is used in the creation of these lenses. The introduction of such a technologically advanced prescription lens would help the industry expand overall.
In 2019, single vision prescription lenses dominated the industry, accounting for more than 27% of global sales. Single vision prescription lenses are preferred by people over the age of 40 over bifocal, trifocal, and incremental lenses. For reading and electronic function, single vision prescription lenses are favoured because they help to preserve posture when working, reducing the risk of experiencing computer vision syndrome.
Because of the rising market for anti-reflective prescription lenses, anti-reflective (AR) coating held the highest sales share of approximately 30% in 2019. Anti-reflective coating lenses are chosen for a variety of reasons, including shielding from damaging rays emitted from electronic display screens. AR coating tends to eliminate shadows, lowering contrast and increasing visibility.
During the forecast era, the ultraviolet (UV) treatment lens segment is expected to rise at the fastest rate in the prescription lens industry. UV radiation has been linked to a variety of eye diseases, including cataracts and macular degeneration. As a result, people use UV-coated lenses to prevent vision problems. These UV treatment lenses are made of polycarbonate and high-index plastics, which absorb and shield the retina from harmful radiation.
Because of the growing incidence of myopia & presbyopia in nations such as the United U.s. and Canada, North America led the industry and contributed for over 25% of global sales in 2019. Furthermore, major industry players are present in the field, and they are introducing innovative prescription lenses. Privé Revaux released prescription lenses at an inexpensive price in October 2018. Via a collaboration with Opternative, a technology firm, the organisation has also broadened its customer base by offering online vision assessments. The area has a high rate of acceptance of new technologies and goods, which contributes to overall business growth.
Asia Pacific is projected to rise at the fastest pace. Myopia prevalence is highest in China, Japan, Singapore, and the Republic of Korea, accounting for 50.0 percent of the global total. The rising incidence of refractive errors in the area is expanding the patient pool and, as a result, the need for prescription lenses to treat them. Strategic alliances are being formed by market players in the area in order to grow their prescription lens industry. HOYA Vision Care revealed in December 2016 that it had acquired 3M's protection prescription eyewear company in order to broaden its prescription lens product range.
