Prescription Lens Market Size, Share & Trends Analysis Report By Type (Single Vision, Progressive), By Application (Myopia, Presbyopia), By Coating, By Region, And Segment Forecasts, 2024 - 2030

Prescription Lens Market Size, Share & Trends Analysis Report By Type (Single Vision, Progressive), By Application (Myopia, Presbyopia), By Coating, By Region, And Segment Forecasts, 2024 - 2030

Prescription Lens Market Growth & Trends

The global prescription lens market size is expected to reach USD 65.4 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to grow at a CAGR of 5.36% from 2024 to 2030. Uncorrected refractive error cases are majorly contributing to the rapidly growing cases of visual impairment. Therefore, various organizations are focusing on increasing awareness regarding the conditions related to refractive errors and their corrective options. These organizations are also incorporating services to treat refractive errors. Initiatives taken to enhance vision care, identify cases at an early stage, and provide efficient lenses for treating different vision problems are expected to boost the market growth.

Myopia and astigmatism are the two refractive errors with the highest prevalence. Therefore, to provide better treatment for these refractive errors, market players are coming up with different types of prescription lenses with advanced coating options. Furthermore, to increase the reach of these advanced prescription lenses, companies are being developed to enhance the accessibility of vision tests through online platforms. These online vision tests will enhance the early diagnosis of refractive errors and hence are expected to impact the adoption of prescription lenses.

Prescription lenses are available with various coating options to provide patients with enhanced vision in a different environment. Anti-reflective coating prescription lenses are widely preferred due to their advantage of eliminating reflection and reducing contrast. UV coating prescription lenses are witnessing growth mainly due to their growing demand to avoid penetration of harmful UV radiations. These UV radiations later can result in various eye-related disorders, thus increasing the demand for UV-coated prescription lenses.

Market players are focusing on forming alliances to expand the reach of their products. For instance, in April 2022, Carl Zeiss launched the ZEISS Supreme Prime 15, which is a wide-angle lens added to the successful family of supreme prime lenses. Similarly, non-profit organizations are initiating programs focusing on resolving visual impairment due to refractive errors.

Prescription Lens Market Report Highlights

• The single vision segment held the largest market share of 27.1% in 2023, as it focuses on providing lenses with a single corrective power for a specific distance, such as near or far. These lenses are primarily used to address refractive errors like myopia, hyperopia, or astigmatism.
• The myopia segment accounted for the largest market share of 30.7% in 2023, as it targets individuals with nearsightedness, a condition affecting a substantial portion of the population.
• By coating, the anti-reflective segment accounted for the largest revenue share, 30.1%, in 2023. It offers lenses with a specialized coating to reduce glare and reflections, enhancing visual clarity and comfort for wearers.
• The North America prescription lens market dominated the overall global market with a revenue share of 24.9% in 2023.
• The prescription lens market in the Asia Pacific region is expected to grow at the fastest CAGR during the forecast period.

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