A rise in the number of geriatric population is anticipated to boost the growth of the U.S. reading glasses market in the coming years. Recently Fortune Business Insights has published a report, titled, “Reading glasses: U.S. Market Analysis, Insights and Forecast, 2019-2026”. As per the report, in 2018, the U.S. reading glasses market was valued at US$ 13,134 Mn. The market is expected to progress at a CAGR of 3.5% and reach US$ 17,959.2 Mn by the end of 2026. The report also suggests that reduction in the number of refractive surgeries, increasing advancements in the technology of lenses, and rise in the disposable incomes are likely to increase the demand for reading glasses in the U.S. This in turn, will boost the market growth.
Some of the leading market players in the U.S. reading glasses market are PowerVision, Inc., Bausch & Lomb Incorporated., Vision Service Plan, Johnson & Johnson Services, Inc., CooperVision, Thinoptics, Inc., ABB Optical Group, Transitions Optical, Inc., Alcon Vision LLC, and other prominent players.
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Age Group of 18 to 64 years Likely to Increase Demands Due to Vision Issues
The report classifies the U.S. reading glasses market on the bases of corrective strength, by type, and by age group. By corrective strength, the market is further divided into +1 to +2, +2.25 to +3, and greater than +3. Out of these, the +2.25 to +3 power segment currently dominates the U.S. reading glasses market as there is an ever grossing demand for vision correction. On terms of type, the market is grouped into OTC reading glasses and prescription reading glasses.
By age group, the market is classified into less than 18 years, 18 to 64 years, and 65 years and greater. Amongst these, the age group of 18 to 64 years is likely to retain the largest share of the reading glasses market in the U.S. during the forecast period. This will occur due to the increasing number of cases of vision issues that are associated with long-term exposure to blue light. The exposure takes place because people who fall under this age group, are hooked onto smartphones, laptops, and computers. A rise in the incidence of presbyopia amongst senior citizens and middle-ages people residing in the U.S., is another major factor that is anticipated to propel the reading glasses market in the region.
Thinoptics, Inc., FGX International Inc., and Other Key Players Likely to Induce Growth through Innovative Product Launches
FGX International Inc., a leading designer and marketer of optical frames, sunglasses, and reading glasses, headquartered in the U.S., announced their collaboration with Restoring Vision, a non-profit global health organization, based in Canada in June 2019. The company launched their first reading glasses with the aim to raise awareness about the impact of vision correction through reading glasses. The company also informed the populace about the lack of access to reading glasses in developing nations. Thinoptics, Inc., a Canada-based provider of ultra-thin and compact reading glasses with multiple color options, launched its new reading glass, earlier in July 2018. Considered to be the world’s lightest and thinnest reading glasses, they weigh approximately 9 grams and come with a 4mm aircraft aluminum case. The case can easily slip into a person’s pocket or it can be attached to the back of a tablet, phone, e-reader, or laptop.
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