Published Date: 31-Jul-2022
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According to a new report, published by KBV research, The Global Prescription Lens Market size is expected to reach $63.8 billion by 2028, rising at a market growth of 5.4% CAGR during the forecast period.
The Anti-reflective segment acquired maximum revenue share in the Global Prescription Lens Market by Coating in 2021 thereby, achieving a market value of $20.3 billion by 2028. Anti-reflective coating lenses are most favored because of the many benefits they offer, including protection from the damaging rays of electronic display panels. AR coating helps to minimize contrast, eliminate reflections, and improve clarity. Lenses with an AR coating are therefore frequently chosen at night.
The Hyperopia/Hypermetropia segment is showcasing a CAGR of 5.6% during (2022 - 2028). The prevalence of hyperopia is anticipated to rise significantly in the coming years. Young children are primarily affected by hyperopia. As moderate and severe forms of this illness might result in other visual impairment disorders, early detection & treatment of hyperopia are crucial. As a result, industry participants are creating prescription lenses to cure hyperopia.
The Single Vision segment is generating highest revenue share in the Global Prescription Lens Market by Type in 2021 thereby, achieving a market value of $17.8 billion by 2028. Players in the market concentrate on creating single-vision prescription lenses to treat refractive faults. Bifocal, trifocal, and progressive lenses are less popular among people than that single vision prescription lenses.
The North America market dominated the Global Prescription Lens Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $22.8 billion by 2028. The Europe market is exhibiting a CAGR of 5% during (2022 - 2028). Additionally, The Asia Pacific market would showcase CAGR of 5.9% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of EssilorLuxottica SA (Essilor Instruments USA), Carl Zeiss AG, Hoya Corporation, VISION EASE, Privé Revaux, and Vision Rx Lab Pvt. Ltd.
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