Prescription Spectacles Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Spectacle Frames and Spectacle Lenses), By Lens Type (Single Vision, Bifocal, Trifocal, Progressive, Workspace Progressives, and Others), By Lens Coating (Anti-reflective, Scratch Resistant Coating, Anti-fog Coating, and Ultraviolet Treatment), By Materials (Frame Material and Lens Material), By Application (Myopia, Hyperopia/Hypermetropia, Astigmatism, and Presbyopia), By Distribution Channel (E-Commerce, Retail Store, Ophthalmic Clinics, and Eye Hospitals) and Region

Prescription Spectacles Market size was valued at US$ 42,273.6 million in 2023 and is expected to grow at a CAGR of 3.1% from 2024-2030. The spectacles sector is a hypercompetitive one, with numerous international and regional companies. Frames, spectacle lenses, prescription, and over-the-counter spectacles are all available on the market. Spectacles or spectacles provide vision correction for persons who have ocular problems such as myopia, hypermetropia, or astigmatism. Given the current state of the market and the increased prevalence of vision impairment due to excessive stress in the eye muscle, people frequently wear glasses. This is because more people are becoming aware of ocular illnesses and ocular problems interfere with the day-to-day working of a person’s life. Thus, with the increase in ocular problems and the mandatory necessity for its treatment boost, the spectacles market is currently and in the future. In addition, the development of high-end eyewear in recent years has encouraged both developed and developing nations to adopt spectacles as a fashion trend. There are trends in youngsters adopting spectacles without any lens as a fashion statement. This enhances the key players in the spectacles market to elaborate their spectacle range from standard to fashionable. This will also contribute to an increase in the spectacles market size in the estimated period. The prevalence of ocular disorders such as astigmatism, hypermetropia, myopia, and others is rising on a global scale. The widespread adoption of spectacles among the general population is largely due to the wide range of products offered by small and major businesses. The reliance on technology, such as computers, laptops, and mobile phones, has grown over the last few years. As a result, the prevalence of ocular problems linked to extended use of the aforementioned technologies has increased.

However, people have begun using eyewear with a reflective coating due to the growing awareness campaigns about the drawbacks of technology. These reflective coatings shield users' eyes from blue light emitted by laptops, computers, and cell phone screens. Thus, different product types of spectacles and their lenses evolved, keeping in mind the requirement. This variety of product types acts as the potential to propel the spectacles market in the forecast period as various kinds of products target multiple needs of the consumers. Moreover, there is also estimated simultaneous growth of the prescription lens market as many consumers prefer the exact utility of the spectacles but are unwilling to carry the frame; thus, they tend to incline in the contact lenses sector. With the recent development in contact lenses’ durability and technology, nowadays, contact lenses require less maintenance than before, which also attracts a large number of consumers to adopt for contact lenses. This increasing demand for contact lenses can be estimated to lift the prescription lenses market in the foretell period. The growing tendency of ophthalmologists and patients toward LASIK surgeries is the restraining factor for the spectacles market.

Prescription Spectacles Market Key Developments:

• In August 2022, according to the Alcon press release, a new astigmatism-friendly contact lens will be available in the UK and Ireland starting in September.
• In August 2022, to maintain a focus on providing high-quality patient care, NY Vision Group joined the prestigious OCLI Vision Ophthalmology Practice.