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As per the latest report by IMARC Group, titled “Glass Lens Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global glass lens market reached a value of US$ 43.1 Billion in 2021. Lenses are pieces of glass with curved sides, which are used for concentrating or dispersing rays of light. They are widely used in the manufacturing of spectacles to rectify vision impairments and to protect the eyes from environmental pollutants such as wind, debris, and UV rays. In addition to this, they help to adjust the amount of light that enters the eye and are available in numerous forms, depending on the consumer requirements and the degree of the defect in the eye. Consumers have the option of customizing the spectacles by adding different kinds of coatings on the lens, such as scratch-resistant, anti-reflective, blue-light reduction and UV protection.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Rapid urbanization, in confluence with technological advancements, has increased the exposure of the younger population to smartphones, tablets, laptops and personal computers. This has led to the prevalence of eyesight disorders such as myopia, hyperopia and astigmatism. In line with this, the increasing incidences of Computer Vision Syndrome (CVS), or digital eye strain, especially among the working population, is strengthening the growth of the market. Moreover, the rising geriatric population, coupled with the increasing life expectancy, is impelling the demand for spectacles. Furthermore, the burgeoning e-commerce industry is offering lucrative opportunities to the manufacturers for distributing their products through online channels. Looking forward, the market value is projected to reach US$ 54.6 Billion by 2027, expanding at a CAGR of 3.91% during 2022-2027.
Market Summary:
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