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The Latin America, Middle East and Africa Spectacle Market would witness market growth of 7.8% CAGR during the forecast period (2020-2026). Technological advancements in every sphere of life offer many benefits. Constant exposure to screens such as tablets, smartphones, computers, and other such gadgets often lead to increased prevalence of vision problems like myopia, astigmatism, hyperopia, and many others.
This has resulted in the growth of the global spectacles market in the upcoming years. Extended hours of working on laptops and computers have resulted in Computer Vision Syndrome (CVS) and also causes strain in eyes, thus creating demand for spectacles. Manufacturers of eyewear are expected to make a significant investment in innovative product development with better and improved UV protection and moderated glare.
The market growth is fueled by the rising preference for quality eye care products, increasing acceptance of quality vision care products, and a rise in the awareness programs about numerous types of ocular disorders. Further, the developed nations comprise of individuals having high disposable income who can afford to buy high quality frames. Rising eye defects and visual deficiency
Rising visual impairment and requirement for vision correction will lead to augmented demand for eyewear. Currently, the youth is more inclined towards digital devices as they are spending most of their time on screen and on digital devices like laptops, mobile, and video games. Furthermore, health concerns like the vision of people are also affected by diabetes and it may result in blindness. Thus, people who are suffering from diabetes, require going for regular eye checkups in order to avoid vision problems. Therefore, increasing vision impairments and visual deficiencies will have a positive impact on the market growth of eyewear in the coming years.
Based on Parts, the market is segmented into Lens and Frames. Based on Distribution Channel, the market is segmented into Online and Offline. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include EssilorLuxottica SA (Essilor Instruments USA), Johnson and Johnson (Johnson and Johnson Vision Care, Inc.), Novartis AG (Ciba Vision), Carl Zeiss AG, Zenni Optical, Inc., Jand, Inc. (Warby Parker), Lenskart Solutions Pvt. Ltd., Hoya Corporation, MODO and Titan Group Limited (Tata Group).
By Distribution Channel
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