Prescription Goggles Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI400
Global prescription goggles market value is poised to expand at a steady rate during 2021-2027 with technological advancement and investments in rimmed glasses. Strong demand for polycarbonate lenses and anti-reflective coatings will foster the industry trends. Prescription goggles are generally made of tough polycarbonate and are designed to be comfortable.
Prescription goggles have become instrumental in the construction, sports and other fields where flying debris is an issue. Glasses such as rimless products have become ideal for adults who cannot use or dislike contact lenses. Goggle lenses for UV protection and blue light reduction have gained immense popularity in the past several years.
Based on type of product, the polycarbonate goggles segment will expand at a notable rate over the assessment period 2021-2027. Polycarbonate lenses are highly preferred over plastic lenses owing to their strength, light-weight and durability features. These goggles have superior impact resistance and are thinner. Anti-reflective coatings are being added to polycarbonate lenses. Polycarbonate material prescription goggles have set the trend for their built-in scratch-resistant and reduced distortion attributes.
Prescription goggles market share from the rimless lens segment will grow at a sizable rate. These glasses are ideal for stylish and minimalist design, including lens shapes such as ovals and aviators. The millennial population has shown interest in rimless frame owing to their lightweight option.
With respect to coating, the prescription goggles market share from anti-reflective coating segment will account for a considerable share by 2027. Anti-reflective (AR) lens treatment minimizes the light reflected by the lens and makes eyes appear more natural. These upsides are mainly attributed to the ability of the coating to eliminate reflection from the back and front surfaces. AR coating will gain prominence in sunglasses as it removes glare from sunlight. Recently, premium anti-reflective coating lenses are being introduced to make lenses easier to clean.
On the basis of region, North America value will surge significantly over the next few years. Advanced economies such as the U.S. are observing the trend for smart glasses that can address prescription needs. Leading companies are customizing prescription lenses and integrating technologies such as 3D printed lenses. Besides, UV-blocking lenses will further gain prominence following the surge in the number of people affected with cataracts.
Stakeholders are expected to boost investments in the Asia Pacific region as full-rimmed glasses have gained prominence for their durability. Emerging economies such as India and China are major consumers of full-rimmed glasses owing to their stability and tolerance for the majority of face shapes. APAC prescription goggles market growth will mainly be attributed to the trend for polycarbonate glasses and sunglasses.
Key vendors in the global prescription goggles industry are Essilor, Goggleman, Wenzhou Sunshine Optics, RxSport, Speedo, Uvex Safety Group, Wenzhou Sunshine Optics and Nanyang Kingopt Optical & Electronics, among others. Leading companies are expected to boost their strategies through mergers & acquisitions, divestment, product launches and collaboration. For instance, EssilorLuxottica (formed after the merger of Essilor with Luxottica in 2018), received approval from the EU for $8.5 billion acquisition of GrandVision in March 2021.
COVID-19 impact on global prescription goggles market value
Eyes glass manufacturers and ophthalmologists have shifted their attention toward the online channel during the COVID-19 pandemic to support consumers who cannot visit physical stores. Besides, eye glass lens suppliers and medical institutes have shown increased demand for prescription goggles. The coronavirus has also caused significant reduction in travelling and outdoor activities, impacting the short-term demand for goggles and other eyewear.
Demand for scratch-resistant lenses and anti-reflective coatings will particularly remain prominent. The trend for polycarbonate lenses and rimless glasses will continue to foster the prescription goggles market share worldwide.
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