Reading Glasses Market Size, Share, Growth Analysis, By Age group.(Less than 18 years, 18 to 64 years, 65 years, above), By Type(Prescription Glasses, OTC Reading Glasses), By Region - Industry Forecast 2024-2031

Global Reading Glasses Market size was valued at USD 41.12 billion in 2019 and is poised to grow from USD 43.33 billion in 2023 to USD 65.81 billion by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).

In order to reduce the effects of hyperopia (farsightedness), presbyopia, and myopia, corrective lenses correct refractive errors by bending light entering the eye (nearsightedness). When a person struggles to focus on close objects, reading glasses are used to help the vision. Age-related weakening of the right eye causes nearby objects to appear blurry, which is a condition known as presbyopia.

The reading glasses market is expanding as a result of the rise in ocular conditions like presbyopia and others. Due to rising access to the product and rising awareness of eye care, growth is greater in developing countries. Global geriatric population growth is anticipated to have a significant impact on the industry's expansion. According to the World Health Organization's "Blindness and vision impairment Key Facts" report, which was updated in October 2021, around 2.2 billion people worldwide are estimated to have some form of vision impairment. Untreated cataracts, untreated refractive error, untreated presbyopia, and other eye conditions are the main causes of vision impairment worldwide. The market may expand due to the increasing prevalence of eye disorders.

Because of consumers' growing preference for online sales channels due to the convenience factor, online stores are anticipated to generate more revenue over the course of the forecast period. Additionally, it is anticipated that the expanding focus on technological innovations to deliver affordable, fashionable eyewear of the highest quality will positively impact the growth of the global reading glasses market.

US Reading Glasses Market is poised to grow at a sustainable CAGR for the next forecast year.