Shibuya-ku, Tokyo, Japan, Japan, Jul 22, 2021, 06:14 /Comserve / -- Prescription Safety Glasses Market Estimation, Global Share, Industry Outlook, Price Trend, Growth Opportunity and Top Regional Forecast (Latin America, North America, Asia Specific, Europe, Middle East )
"The report on Prescription Safety Glasses Market was recently published by SDKI, which includes the latest market trends, current and future opportunities along with the factors that are driving the growth of the market. This report further encompasses the records for the expansion of the market along with information on the investment opportunities that help the clients to take positive decisions on the parameters for gaining profitable revenues. Moreover, the report also contains identification and investigation of the market structure, in-depth qualitative analysis, restraints & challenges, growth drivers, emerging product trends & market opportunities and Porter’s five forces.
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Prescription Safety Glasses Market: Overview
- According to the latest market report on the prescription safety glasses market for the period 2019–2027 (wherein 2019 to 2027 is the forecast period and 2018 is the base year), increasing number of vision deficiencies, and growing concerns about eye safety in manufacturing industries and the construction sector is anticipated to drive the prescription safety glasses market.
- Globally, revenue generated by the prescription safety glasses market accounted for around US$ 584.6 Mn in 2018, which is expected to expand at a CAGR of ~4.4% in terms of value throughout the forecast period.
Increase in Number of People with Vision Deficiencies: A Key Driver
- According to a study conducted by National Institutes of Health, around 90% of people in the U.S. in the age group 20 – 39 years are visually impaired, which can be corrected with glasses or contact lenses. Increasing number of eye deficiencies is projected to fuel the usage of prescription glasses in the coming years.
- Uncorrected eye refractive errors, cataract, glaucoma, and infections are the major causes of vision impairment. Furthermore, extensive usage of smartphones and computers have led to vision troubles globally. Nowadays, a vast majority of people wear glasses or contact lenses. More than 6 in 10 people wear glasses due to eye defects.
- Prescription safety glasses are custom created, taking into consideration every individual’s prescription needs so that these glasses can be used as a replacement for prescription glasses. Though safety eyewear provides eye protection at workplaces, prescribed safety eyewear helps to provide correct vision which aids in completing the job at workplaces efficiently. Hence, the growing number of vision deficiencies among the population is set to drive the prescription safety glasses market globally.
Technological Advancements and Growing Personal Safety Awareness: Market Opportunity
- Innovation and technological advancements in eyewear are expected to create favorable opportunities in the market. Prescription safety glasses provide protection from dust, and impact & chemical splash in hazardous working environments, which is anticipated to drive the market in the near future.
- The world has seen many technological advancements over the last few years, and Univet, one of the leading manufacturers of prescription safety glasses, has come up with the revolution of protective eyewear by manufacturing augmented reality safety glasses. Rising technological advancements and manufacturing of comfortable eyewear is likely to create vital opportunities for prescription safety eyewear in the coming years.
- Prescription safety eyewear manufacturers are striving to develop new designs, styles, and features to improve the user’s comfort as well as minimize the cost. This is anticipated to create lucrative opportunities for manufacturers of prescription safety glasses in the near future.
- The prescription safety glasses market has the opportunity to tap unexplored markets in South America, and Middle East & Africa. Manufacturers of prescription safety glasses have huge opportunity to cater to untapped markets in these regions.
Affordability or High Cost of Prescription Safety Glasses Likely to Hinder Market Growth
- High cost of prescription safety glasses is a major issue, especially in emerging economies. Prescription safety glasses are unaffordable to people working in the labor sector.
- Affordability is the major concern as prescription safety glasses are a costlier than regular safety glasses. Several industry manufacturers tend to buy low cost safety gear equipment, which can impact the sales of prescription safety glasses.
- In addition, availability of alternatives such as face shields, and safety goggles may hinder the growth of the market
Prescription Safety Glasses Market: Competition Landscape
- Detailed profiles of manufacturers of prescription safety glasses have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the prescription safety glasses market include
- EssilorLuxottica SA
- Wiley X Inc.
- Pyramex Safety
- Radians, Inc.
- MCR Safety
- Univet S.r.l.
- UVEX GROUP
- Bollé Safety
- Honeywell International Inc.
- HOYA Corporation (3M)
- Kimberly-Clark Corporation
- Phillips Safety Products
Prescription Safety Glasses Market: Key Developments
- Prominent manufacturers in the prescription safety glasses market are increasing investment on research & development to undertake advancements in technologies to fulfill the demand in the market. Manufacturing companies are also planning to expand their presence in various geographies through mergers & acquisitions and tie-ups with distributors and retailers.
- Some other key developments in the prescription safety glasses market are as follows:
- In July 2019, EssilorLuxottica announced the acquisition of GrandVision to create a global eye care and eyewear company. Through this acquisition, EssilorLuxottica will expand its optical retail platform, primarily in Europe, by adding more than 7,200 stores globally, and over 37,000 employees. The company is majorly focusing on strengthening its presence across the globe and continuously taking steps to become a global leading company in the field of eyewear.
- In March 2017, Wiley X Inc. added three new products in Black Ops Collection Climate Control™ WX Enzo sunglasses to its industry-leading line-up, which provides advanced protection with distraction free vision for a wide range of activities
- In June 2016, WILEY X® EUROPE expanded its business across the Middle East & Africa market in order to increase its customer base and meet the growing demand for its products across the EMEA region
Prescription Safety Glasses Market – Scope of the Report
A new study on the global prescription safety glasses market has been published and presents a wealth of information on key market dynamics, including the drivers, market trends, and challenges, as well as the structure of the global prescription safety glasses market across the globe. The study offers valuable information about the global prescription safety glasses market to illustrate how the market would grow during the forecast period, 2019–2027.
Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR), are elucidated in the study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global prescription safety glasses market during the forecast period.
An extensive analysis on business strategies of leading market players is also featured in the study on the global prescription safety glasses market. This can help readers understand principal factors to foresee growth in the global prescription safety glasses market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global prescription safety glasses market, which is expected to guide market players in making apt decisions in the future.
Key Questions Answered in the Prescription Safety Glasses Market Study
- What are the key factors influencing the prescription safety glasses market in each region?
- What will be the CAGR of the global prescription safety glasses market between 2017 and 2027?
- What is the future scope and current trends of the global prescription safety glasses market?
- What is the revenue of the global prescription safety glasses market based on segments?
- Which key strategies are used by top players of the global prescription safety glasses market?
- Which are the leading companies in the global prescription safety glasses market?
Research Methodology – Prescription Safety Glasses Market
A unique research methodology has been utilized to conduct comprehensive research on the growth of the global prescription safety glasses market and arrive at conclusions on the future growth prospects of the market. The research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global prescription safety glasses market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of the study on the prescription safety glasses market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from prescription safety eyewear industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global prescription safety glasses market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making the estimates on the future prospects of the global prescription safety glasses market more reliable and accurate.
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Table of Content
Section 1. Preface
1.1. Market Definitions and Overview
1.2. Market Segmentation and Scope
1.3. Key Research Objectives
1.4. Research Highlights
Section 2. Assumptions and Research Methodology
Section 3. Executive Summary
Section 4. Market Overview
4.2. Market Dynamics
4.3. Industry SWOT Analysis
4.4. Porter’s Five Forces Analysis
4.5. ANSI Standards for Safety Eyewear
4.6. Frame Test Criteria for Safety Eyewear
4.7. Value Chain Analysis
4.8. Raw Material Analysis
4.9. Key Trends Analysis
4.9.1. Supply side
4.9.2. Demand Side
4.10. Key Market Indicators
4.11. Global Prescription Safety Glasses Market Analysis and Forecast, 2017 – 2027
4.11.1. Market Value Projection (US$ Mn)
4.11.2. Market Volume Projection (Units)
Section 5. Global Prescription Safety Glasses Market Analysis and Forecast, by Product Type
5.2. Global Prescription Safety Glasses Market Size (US$ Mn and Units), by Product Type, 2017 – 2027
5.3. Global Incremental Opportunity, by Product Type
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