Overview and Scope
Optical goods stores are locations where customers can purchase eyeglasses and frames. The optical goods stores sell any number of different products, including eyeglasses, sports eyewear, and safety and protection eyewear.
Sizing and Forecast
The optical goods stores market size has grown strongly in recent years. It will grow from $65.25 billion in 2023 to $69.51 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to population demographics, increased screen time, healthcare awareness, insurance coverage, educational initiatives, rise in vision disorders.
The optical goods stores market size is expected to see strong growth in the next few years. It will grow to $87.82 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to aging population demands, digital eye strain awareness, sustainable and eco-friendly eyewear, health and wellness trends, globalization of fashion, increased focus on preventive eye care. Major trends in the forecast period include digital transformation, telehealth and remote eye care services, smart eyewear integration, innovative marketing strategies, remote frame styling services, specialty eyewear categories.
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Segmentation & Regional Insights
The optical goods stores market covered in this report is segmented –
1) By Product: Spectacles, Sunglasses, Contact Lenses
2) By Gender: Men, Women, Unisex
3) By Distribution Channel: E-Commerce, Brick And Mortar
North America was the largest region in the optical goods stores market in 2023. The regions covered in the optical goods stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing prevalence of ocular diseases is expected to propel the growth of the optical goods store market going forward. Ocular disease refers to any disease or problem that impairs the eye’s capacity to operate normally and/or has an adverse effect on the eye’s ability to see well. Optical goods stores offer eyewear products that help lower the strain that fatigue-related eyestrain places on the eyes. Moreover, they can prevent or treat several eye conditions and vision-related issues, including myopia and hypermetropia. For instance, in October 2022, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, at least 2.2 billion people worldwide suffer from near- or distance vision impairment. At least 1 billion of these instances, or almost half of all occurrences, entailed vision loss that was either preventable or was not addressed. Therefore, an increasing prevalence of ocular diseases is driving the growth of the optical goods store market.
Key Industry Players
Major companies operating in the optical goods store market are developing innovative products, such as myopia management spectacle lenses. Myopia management spectacle lenses are specially designed eyeglasses aimed at controlling the progression of myopia, also known as nearsightedness. For instance, in April 2023, Hoya Vision Care, a Thailand-based optical technology company, launched the MiYOSMART sun range. The unique feature of the MiYOSMART Chameleon photochromic spectacle lenses and the MiYOSMART Sunbird polarised spectacle lenses lies in their utilization of D.I.M.S. Technology to address myopia progression in children. Specifically developed to provide protection from intense sunlight, these lenses offer a dual function of correcting myopic refractive errors while actively slowing down the progression of myopia in children. When paired with the MiYOSMART clear spectacle lenses, these innovative products empower children to comfortably engage in a wide range of indoor and outdoor activities without compromising their vision. MiYOSMART Chameleon and MiYOSMART Sunbird stand out by seamlessly combining sunlight protection, myopic refractive error correction, and myopia progression control.
The optical goods stores market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
…………
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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