Prescription Sunglasses Market Scope
Increasing demand for prescription sunglasses owing to age-related impairment will drive the global prescription sunglasses market. For instance, according to the World Health Organization (WHO), globally over 2.2 billion people have vision impairment. Moreover, growing awareness about hazardous radiations from electronic devices, changing fashion trends, and lifestyle standards expected to drive the product demand during the forecasted period.
Market players are focusing on partnerships, collaborations, and new product launches in order to increase their offerings in the prescription sunglasses market. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product offerings. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Prescription Sunglasses market throughout the predicted period.
Luxottic Group SpA (Italy), Safilo Group (Italy), Charmant Group (United States), Marchon (United States), Fielmann (Germany), De Rigo Vision S.p.A. (Italy), CooperVision (United States), Bausch + Lomb Inc. (United States) and Safilo Group S.p.A (Italy) are some of the key players that are part of study coverage.
Segmentation Overview
The study have segmented the market of Global Prescription Sunglasses market and Region with country level break-up.
On the basis of geography, the market of Prescription Sunglasses has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Changing Fashion Trends and Lifestyle Standard and Growth in Online Retail Channel
Market Growth Drivers:
Increasing Dependency on Electronic Devices and The growing dependency of the millennials on electronic devices such as televisions, smartphones, laptops, and computers leading to prolonged exposure to hazardous radiation resulting in strain on the eyes which is driving the product demand.
Challenges:
Increasing Dominance of Local Players Product
Restraints:
Growing Acceptance of Vision Corrective Alternatives
Opportunities:
Emphasizing On Attractive Promotional Strategies and Increasing Demand for Ultra-Light Weight Prescription Sunglasses
Market Leaders and their Expansionary Development Strategies
October 2018, Luxottica Group S.p.A and Essilor International SA merged to form EssilorLuxottica with an aim to serve the customers with broader distribution channels and boost market development.
In March 2021, EssilorLuxottica, which was formed after the merger of Essilor with Luxottica in 2018 had thereby received approval from the EU for USD 8.5 billion acquisition of the GrandVision.
Sunglasses, eyeglass frames, eyeglass lenses, and magnifying spectacles are classified as medical devices by the FDA in the United States, so products made, imported, and sold in the United States should comply with applicable FDA (Food and Drug Administration) regulations. According to the FDA, importers of eyewear products should adhere to the following requirements; Manufacturers and importers must register their facility with the FDA. This process is known as the 21 CFR 807 facility registration. Manufacturers must meet the requirements of the quality system (QA) according to 21 CFR 820. The lenses for glasses and/or sunglasses must be certified as impact-resistant in accordance with 21 CFR Part 801.410.
Key Target Audience
Prescription Sunglasses Manufacturers, Prescription Sunglasses Distributors, Government Agencies, Commercial Research & Development Institutions, Government Organizations, Research Organizations, and Consulting Firms, Trade Associations and Industry Bodies and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.