PUBLISHER: The Business Research Company | PRODUCT CODE: 1706962
PUBLISHER: The Business Research Company | PRODUCT CODE: 1706962
Spectacle lenses are optical devices primarily utilized to address vision issues such as nearsightedness, farsightedness, and astigmatism. Typically crafted from materials such as glass or plastic, these lenses can be tailored to individual prescriptions. They function by bending light to appropriately focus it onto the retina, thereby enhancing clarity and sharpness of vision for the wearer.
The main types of spectacle lenses include single-vision lenses, progressive lenses, bifocal lenses, and trifocal lenses. Single-vision lenses maintain a consistent prescription power throughout the entire lens, typically correcting either nearsightedness or farsightedness without astigmatism. Available materials range from plastic and polycarbonate to trivex, high-index, and glass lenses, which are distributed through various sales channels including retail and institutional avenues. These lenses find application in diverse areas such as vision correction, aesthetics, and beyond.
The spectacle lenses market research report is one of a series of new reports from The Business Research Company that provides spectacle lenses market statistics, including spectacle lenses industry global market size, regional shares, competitors with a spectacle lenses market share, detailed spectacle lenses market segments, market trends and opportunities, and any further data you may need to thrive in the spectacle lenses industry. This spectacle lenses market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The spectacle lens market size has grown strongly in recent years. It will grow from $53.71 billion in 2024 to $56.97 billion in 2025 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to regulatory changes, consumer preferences, disposable income levels, prevalence of eye conditions and, consumer awareness and education.
The spectacle lens market size is expected to see strong growth in the next few years. It will grow to $71.37 billion in 2029 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to shift towards environmentally friendly materials, expansion of healthcare coverage, rise in myopia rates among younger demographics, fashion trends influencing the popularity of lens coatings and tint and, aging population driving demand for multifocal and progressive lenses. Major trends in the forecast period include photochromic and adaptive lenses, smart lens technology, advanced lens materials, customization and personalization and, digital eye strain solutions.
The rising incidence of ophthalmic disorders is expected to drive the expansion of the spectacle lens market in the future. Ophthalmic disorders encompass a range of conditions that affect the eyes, from common issues like refractive errors to more serious conditions such as glaucoma and macular degeneration. The growing prevalence of these disorders is attributed to factors like increased screen time, extensive use of digital devices, and aging populations, leading to conditions such as digital eye strain, myopia, and age-related macular degeneration. Spectacle lenses help correct these conditions-such as myopia, hyperopia, astigmatism, and presbyopia-by refracting light to focus properly on the retina, improving vision clarity, and reducing eye strain. For example, in November 2022, the Centers for Disease Control and Prevention (CDC) in the United States reported that over 3 million Americans were living with glaucoma, a condition that damages the optic nerve. This number is projected to rise to 6.3 million by 2050. Additionally, in September 2023, the Association of Optometrists, based in the UK, released a report showing that in 2022, England saw 22,552 new certifications for vision impairment. Of these, 1,344 were due to diabetic eye disease, 3,614 were linked to glaucoma, and 10,865 were related to age-related macular degeneration. As a result, the increasing prevalence of ophthalmic disorders is fueling the growth of the spectacle lens market.
Key players in the spectacle lens market are focusing on developing dual-function lenses that not only enhance vision but also provide protection against blue light, glare, and UV radiation. Dual-function lenses refer to optical devices capable of performing two distinct functions. For instance, Hoya Vision Care introduced MiyoSmart Sun Spectacles in April 2023, featuring patented defocus incorporating multiple segments (DIMS) technology to address myopia progression in children while also offering protection against harmful UV rays. These lenses offer reliable visual comfort and contribute to children's overall eye health, making them suitable for outdoor activities.
In March 2023, Oakley Capital, a UK-based private equity firm, acquired Horizons Optical for an undisclosed sum. This acquisition is intended to drive Horizons Optical's growth by tapping into Oakley Capital's expertise in scaling software businesses and capitalizing on favorable market trends. It enhances Horizons' role as an innovative leader in the optical industry, broadening its international presence and expanding its service offerings. Horizons Optical, based in Spain, specializes in the production of spectacle lenses, including single-vision lenses.
Major companies operating in the spectacle lens market are Johnson and Johnson, EssilorLuxottica SA, Bausch Health Companies Inc., Hoya Corporation, Cooper Companies Inc., Carl Zeiss AG, KODAK Lens, Rodenstock GmbH, Warby Parker Inc., Norville Group Ltd, Vision Rx Lab Pvt. Ltd., ABB Optical Group, Walman Optical, Younger Optics, Vision-Ease Lens Ltd, Mingyue Optical Lens Co Ltd, ClearVision Optical, X-Cel Optical Company, Jiangsu Hongchen Optical Co Ltd, Paragon Vision Sciences, Visioneering Technologies Inc., Tokai Optical Co. Ltd., Kbco Lens Ltd, Sola Optical
North America was the largest region in the spectacle lens market in 2024. The regions covered in the spectacle lens market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the spectacle lens market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The spectacle lens market consists of sales of photochromic lenses, blue light-blocking lenses, and anti-reflective coatings. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Spectacle Lens Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on spectacle lens market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for spectacle lens ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The spectacle lens market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.