The Progressive Lenses Market to Record USD 39 Billion in the Next 5 Years, Doctor-Directed Process to Boost the Market Sales - Arizton

2022-11-29

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CHICAGO, Nov. 29, 2022 /PRNewswire/ -- According to Arizton's latest research report, the progressive lenses market will grow at a CAGR of 4.37% from 2022-2027. The demand for eye care products is continually increasing with the growing prevalence of visual dysfunctions in developed and developing countries.

The Progressive Lenses Market to Record USD 39 Billion in the Next 5 Years, Doctor-Directed Process to Boost the Market Sales - Arizton

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PROGRESSIVE LENSES MARKET - ARIZTON

Earlier, the acceptance and demand for progressive lenses were majorly concentrated in developed countries such as the US, Japan, the UK, Germany, and France. However, developing Asian countries such as India and China are witnessing a high demand for progressive lenses due to the expanding target population with refractive error, visual impairment eye disorders, and aggressive retail optical stores marketing campaigns.

Progressive lenses are complex multifocal lenses that require complex measurements. Therefore, patients prefer direct-to-doctor communication to place direct orders for progressive lenses through online channels. However, every eyewear segment is vastly increasing its sales through e-commerce platforms. The integration of virtual showrooming with online platforms allows users to try products online and redefines the shopping experience. Also, virtual "try-before-you-buy" experiences enable eyewear specialists to offer traditional in-store retail experiences online and reduce the frequency of returns. Similar options can also be given through 3D images and mimicking the showroom online. Research-online-purchase-offline and research-offline-purchase-online are other emerging trends wherein there has been an impeccable integration between online and offline channels to offer maximum convenience to consumers.

Most vendors started using the doctor-directed process to increase the sales of their progressive lenses in the global market. This doctor-directed process has proved to be a tremendous success for opticians that specialize in selling progressive lenses.

Progressive Lenses Market Report Scope

To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

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Evolution of 3D-printed Progressive Lenses

In recent years, 3D printing is changing the way eyewear is designed and manufactured. 3D Printing is revolutionizing several industries, including the global progressive lenses market. Also, 3D printing technology has opened new avenues for eyewear manufacturers that offer progressive lenses. Printing technology is a unique platform for manufacturers of progressive lenses to increase their production volume. Moreover, 3D technology enables manufacturers to eliminate 30+ conventional processes to manufacture more efficient and customized products.

3D printing technology can also be used to create overly complex structures and, in some cases, designs that would have been unattainable without 3D printing due to limitations associated with conventional manufacturing processes. This technology is increasingly being used in the eyewear industry to produce 3D-printed eyewear. It opens a wide range of possibilities for creating completely 3D-printed eyewear frames.

Vendors also look forward to establishing new subsidiaries and signing distribution/sales partnerships with regional vendors and M&As to enhance their geographical footprint and global customer base. One of the most significant mergers witnessed in the vision care industry recently was the merger of two major vendors, Luxottica and Essilor. Together, these two companies formed EssilorLuxottica and increased their market share significantly. Brand identity determines initial and repeated customer purchases in developed markets. Vendors often resort to building a strong brand portfolio that is deeply connected to users. This is one of the reasons for the surge in collaborations between conventional eyeglass manufacturers and fashion houses to launch co-branded offerings. Further, there has been increased strategic cooperation between these players to achieve a more comprehensive geographical presence or strengthen their product and customer portfolios.

Key Vendors Profiled in the Report

ZEISS

EssilorLuxottica

HOYA

Shamir

BBGR

Fielmann

Indo Optical SLU

JIANGSU HONGCHEN OPTICAL

Leica Eyecare

Nikon Optical

Optimum R.X. Group

Optiswiss

optoVision

Prime Lenses

Rodenstock

RUPP & HUBRACH GLASSES

Seiko Optical Products

Shanghai Conant Optics

Signet Armorlite

Tokai Optical

Vision Ease

Yash Optics and Lens

Younger Optics

MARKET SEGMENTATION

Material

Polycarbonate

Plastic

Others

Applications

Myopia

Presbyopia

Hyperopia

Astigmatism

Age Group

60 & Above

30 To 60

Below 30

Distribution Channel

Optical Retail Stores

Eye Care Clinics

Hospitals

Online Stores

Learn more about the additional trends impacting the future of the market and the positive and negative consequences on the businesses, Download the free Sample Report.

DEMOGRAPHIC SHIFT IN APAC REGION TO BOOST THE PROGRESSIVE LENSES MARKET DEMAND.

Europe dominates the global progressive lenses market with a market share of around 30.70%. In the European region, there has been a significant increase in presbyopia patients requiring lens correction or treatment, and it is estimated to grow during the forecast period. The awareness among ophthalmologists in Europe is lower compared to the market like the United States. Increasing awareness regarding new products and advancements will increase the adoption of progressive lenses in the region.

The APAC region is the 2nd largest market in the global progressive lenses market and is projected to grow at a CAGR of 5.97%. The region is witnessing rapid growth in the aging population. The population above 65 years is set to increase by more than two-fold, from 547 million in 2016 to nearly 1.3 billion by 2050. Such a demographic shift will accompany a high demand for progressive lenses.

North America ranks third in the global progressive lenses market. North America has the presence of all major vendors in the market. A few vendors also maintain their company-operated retail stores in this region to sustain their presence and increase their profitability. For instance, EssilorLuxottica, one of the key vendors in the global progressive lenses market, operates retail stores under LensCrafters and Pearle Vision in North America.

Geography

APAC

China

Japan

India

South Korea

Australia

North America

The U.S.

Canada

Europe

Germany

France

The U.K.

Italy

Spain

Latin America

Brazil

Mexico

Argentina

Middle East & Africa

Turkey

Saudi Arabia

South Africa

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Table of Content

1 RESEARCH METHODOLOGY

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

4.1 MARKET DEFINITION

4.1.1 INCLUSIONS

4.1.2 EXCLUSIONS

4.1.3 MARKET ESTIMATION CAVEATS

4.2 BASE YEAR

4.3 SCOPE OF THE STUDY

4.3.1 MARKET BY MATERIAL SEGMENTATION

4.3.2 MARKET BY APPLICATION SEGMENTATION

4.3.3 MARKET BY AGE GROUP SEGMENTATION

4.3.4 MARKET BY DISTRIBUTION CHANNEL SEGMENTATION

4.3.5 MARKET SEGMENTATION BY GEOGRAPHY

5 REPORT ASSUMPTIONS & CAVEATS

5.1 KEY CAVEATS

5.2 CURRENCY CONVERSION

5.3 MARKET DERIVATION

6 MARKET AT A GLANCE

7 PREMIUM INSIGHTS

8 INTRODUCTION

8.1 OVERVIEW

9 MARKET OPPORTUNITIES & TRENDS

9.1 EVOLUTION OF 3D-PRINTED PROGRESSIVE LENSES

9.2 ADVANCES IN PROGRESSIVE LENS TECHNOLOGIES

9.3 FOCUS ON OMNICHANNEL DISTRIBUTION APPROACH

10 MARKET GROWTH ENABLERS

10.1 HIGH PREVALENCE OF REFRACTIVE ERRORS

10.2 RISE IN EXPOSURE TO DIGITAL CONTENT & CVS

10.3 PUBLIC AND PRIVATE INITIATIVES TO INCREASE VISION CARE AWARENESS

11 MARKET RESTRAINTS

11.1 LIMITATIONS OF PROGRESSIVE LENSES

11.2 RISE IN LASIK PROCEDURES FOR VISION CORRECTION

11.3 EMERGENCE OF SMART CONTACT LENSES

12 MARKET LANDSCAPE

12.1 MARKET OVERVIEW

12.2 MARKET SIZE & FORECAST

12.2.1 GEOGRAPHY INSIGHTS

12.2.2 MATERIAL SEGMENTATION INSIGHTS

12.2.3 APPLICATIONS SEGMENTATION INSIGHTS

12.2.4 AGE GROUP SEGMENTATION INSIGHTS

12.2.5 DISTRIBUTION CHANNEL SEGMENTATION INSIGHTS

12.3 FIVE FORCES ANALYSIS

12.3.1 THREAT OF NEW ENTRANTS

12.3.2 BARGAINING POWER OF SUPPLIERS

12.3.3 BARGAINING POWER OF BUYERS

12.3.4 THREAT OF SUBSTITUTES

12.3.5 COMPETITIVE RIVALRY

13 MATERIAL

13.1 MARKET SNAPSHOT & GROWTH ENGINE

13.2 MARKET OVERVIEW

13.3 POLYCARBONATE

13.3.3 POLYCARBONATE SEGMENT BY GEOGRAPHY

13.4 PLASTIC

13.5 OTHERS

14 APPLICATION

14.1 MARKET SNAPSHOT & GROWTH ENGINE

14.2 MARKET OVERVIEW

14.3 MYOPIA

14.4 PRESBYOPIA

14.4.3 PRESBYOPIA SEGMENT BY GEOGRAPHY

14.5 HYPEROPIA

14.5.3 HYPEROPIA SEGMENT BY GEOGRAPHY

14.6 ASTIGMATISM

14.6.3 ASTIGMATISM SEGMENT BY GEOGRAPHY

15 AGE GROUP

15.3 60 & ABOVE

15.3.3 60 & ABOVE SEGMENT BY GEOGRAPHY

15.4 30 TO 60

15.4.3 30 TO 60 SEGMENT BY GEOGRAPHY

15.5 BELOW 30

15.5.3 BELOW 30 SEGMENT BY GEOGRAPHY

16 DISTRIBUTION CHANNEL

16.1 MARKET SNAPSHOT & GROWTH ENGINE

16.2 MARKET OVERVIEW

16.3 OPTICAL RETAIL STORES

16.3.3 OPTICAL RETAIL STORES SEGMENT BY GEOGRAPHY

16.4 EYECARE CLINICS

16.4.3 EYECARE CLINICS SEGMENT BY GEOGRAPHY

16.5 HOSPITALS

16.5.3 HOSPITALS SEGMENT BY GEOGRAPHY

16.6 ONLINE STORES

16.6.3 ONLINE STORES SEGMENT BY GEOGRAPHY

17 GEOGRAPHY

17.1 MARKET SNAPSHOT & GROWTH ENGINE

17.2 GEOGRAPHIC OVERVIEW

18 EUROPE

18.3 KEY COUNTRIES

18.3.1 GERMANY: MARKET SIZE & FORECAST

18.3.2 UK: MARKET SIZE & FORECAST

18.3.3 FRANCE: MARKET SIZE & FORECAST

18.3.4 SPAIN: MARKET SIZE & FORECAST

18.3.5 ITALY: MARKET SIZE & FORECAST

19 APAC

19.3 KEY COUNTRIES

19.3.1 CHINA: MARKET SIZE & FORECAST

19.3.2 INDIA: MARKET SIZE & FORECAST

19.3.3 JAPAN: MARKET SIZE & FORECAST

19.3.4 SOUTH KOREA: MARKET SIZE & FORECAST

19.3.5 AUSTRALIA: MARKET SIZE & FORECAST

20 NORTH AMERICA

20.3 KEY COUNTRIES

20.3.1 US: MARKET SIZE & FORECAST

20.3.2 CANADA: MARKET SIZE & FORECAST

21 LATIN AMERICA

21.3 KEY COUNTRIES

21.3.1 BRAZIL: MARKET SIZE & FORECAST

21.3.2 MEXICO: MARKET SIZE & FORECAST

21.3.3 ARGENTINA: MARKET SIZE & FORECAST

22 MIDDLE EAST & AFRICA

22.3 KEY COUNTRIES

22.3.1 TURKEY: MARKET SIZE & FORECAST

22.3.2 SOUTH AFRICA: MARKET SIZE & FORECAST

22.3.3 SAUDI ARABIA: MARKET SIZE & FORECAST

23 COMPETITIVE LANDSCAPE

23.1 COMPETITION OVERVIEW

23.2 MARKET SHARE ANALYSIS

23.2.1 ZEISS

23.2.2 ESSILORLUXOTTICA

23.2.3 HOYA

23.2.4 SHAMIR

24 KEY COMPANY PROFILES

24.1 ZEISS

24.1.1 BUSINESS OVERVIEW

24.1.2 PRODUCT OFFERINGS

24.1.3 KEY STRATEGIES

24.1.4 KEY STRENGTHS

24.1.5 KEY OPPORTUNITIES

24.2 ESSILORLUXOTTICA

24.3 HOYA

24.4 SHAMIR

25 OTHER PROMINENT VENDORS

25.1 BBGR

25.1.1 BUSINESS OVERVIEW

25.1.2 PRODUCT OFFERINGS

25.2 FIELMANN

25.3 INDO OPTICAL SLU

25.4 JIANGSU HONGCHEN OPTICAL

25.5 LEICA EYECARE

25.6 NIKON OPTICAL

25.7 OPTIMUM RX GROUP

25.8 OPTISWISS

25.9 OPTOVISION

25.10 PRIME LENSES

25.11 RODENSTOCK

25.12 RUPP & HUBRACH GLASSES

25.13 SEIKO OPTICAL PRODUCTS

25.14 SHANGHAI CONANT OPTICS

25.15 SIGNET ARMORLITE

25.16 TOKAI OPTICAL

25.17 VISION EASE

25.18 YASH OPTICS AND LENS

25.19 YOUNGER OPTICS

26 REPORT SUMMARY

26.1 KEY TAKEAWAYS

26.2 STRATEGIC RECOMMENDATIONS

27 QUANTITATIVE SUMMARY

27.1 MARKET BY MATERIAL

27.1.1 EUROPE BY MATERIAL SEGMENTATION

27.1.2 APAC BY MATERIAL SEGMENTATION

27.1.3 NORTH AMERICA BY MATERIAL SEGMENTATION

27.1.4 LATIN AMERICA BY MATERIAL SEGMENTATION

27.1.5 MIDDLE EAST & AFRICA BY MATERIAL SEGMENTATION

27.2 MARKET BY APPLICATION

27.2.1 EUROPE BY APPLICATION SEGMENTATION

27.2.2 APAC BY APPLICATION SEGMENTATION

27.2.3 NORTH AMERICA BY APPLICATION SEGMENTATION

27.2.4 LATIN AMERICA BY APPLICATION SEGMENTATION

27.2.5 MIDDLE EAST & AFRICA BY APPLICATION SEGMENTATION

27.3 MARKET BY AGE GROUP

27.3.1 EUROPE BY AGE GROUP SEGMENTATION

27.3.2 APAC BY AGE GROUP SEGMENTATION

27.3.3 NORTH AMERICA BY AGE GROUP SEGMENTATION

27.3.4 LATIN AMERICA BY AGE GROUP SEGMENTATION

27.3.5 LATIN AMERICA BY AGE GROUP SEGMENTATION

27.4 MARKET BY DISTRIBUTION CHANNEL

27.4.1 EUROPE BY DISTRIBUTION CHANNEL SEGMENTATION

27.4.2 APAC BY DISTRIBUTION CHANNEL SEGMENTATION

27.4.3 NORTH AMERICA BY DISTRIBUTION CHANNEL SEGMENTATION

27.4.4 LATIN AMERICA BY DISTRIBUTION CHANNEL SEGMENTATION

27.4.5 MIDDLE EAST & AFRICA BY DISTRIBUTION CHANNEL SEGMENTATION

27.5 MARKET BY GEOGRAPHY

27.5.1 POLYCARBONATE SEGMENT BY GEOGRAPHY

27.5.2 PLASTIC SEGMENT BY GEOGRAPHY

27.5.3 OTHERS SEGMENT BY GEOGRAPHY

27.5.4 MYOPIA SEGMENT BY GEOGRAPHY

27.5.5 PRESBYOPIA SEGMENT BY GEOGRAPHY

27.5.6 HYPEROPIA SEGMENT BY GEOGRAPHY

27.5.7 ASTIGMATISM SEGMENT BY GEOGRAPHY

27.5.8 60 & ABOVE SEGMENT BY GEOGRAPHY

27.5.9 30 TO 60 SEGMENT BY GEOGRAPHY

27.5.10 BELOW 30 SEGMENT BY GEOGRAPHY

27.5.11 OPTICAL RETAIL STORES SEGMENT BY GEOGRAPHY

27.5.12 EYE CARE CLINICS SEGMENT BY GEOGRAPHY

27.5.13 HOSPITALS SEGMENT BY GEOGRAPHY

27.5.14 ONLINE STORES SEGMENT BY GEOGRAPHY

28 APPENDIX

28.1 ABBREVIATIONS

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