CLEVELAND, April 16, 2019 /PRNewswire/ -- US demand for contacts, glasses, and sunglasses is forecast to increase 3.9% annually in nominal dollars through 2023, according to Contacts, Glasses, & Sunglasses: United States, a report recently released by Freedonia Focus Reports. Suppliers will benefit from rising disposable personal income, the aging of the population, and new diagnoses of myopia among younger cohorts as children spend more time on electronic devices. Technical developments that improve comfort and visual quality will boost value gains. Faster gains will be prevented by the availability of lower-priced products via internet retailers as well as by the individuals who chose to undergo LASIK treatment to correct their vision.
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These and other key insights are featured in Contacts, Glasses, & Sunglasses: United States. This report forecasts to 2023 US demand for contacts, glasses, and sunglasses in nominal US dollars at the manufacturer level and the consumer level (i.e., personal consumption expenditures). Total demand at the manufacturer level is segmented by product in terms of:
- lenses, including lenses for prescription sunglasses (i.e., polarized lenses)
- nonprescription sunglasses
- other products such as 3D glasses, glass and plastic prosthetic eyes, intraocular lens implants, and protective eyewear (e.g., goggles)
To illustrate historical trends, total demand at the manufacturer level and the various segments, personal consumption expenditures, and trade are provided in annual series from 2008 to 2018.
Smart glasses are considered electronic products and excluded from the scope of this report, unless they include corrective lenses. Imports and exports of contact lenses from and to Puerto Rico are included in demand and trade data, as Puerto Rico often serves as a manufacturing base for pharmaceuticals and medical devices for the US market. Re-exports of contacts, glasses, and sunglasses are excluded from demand and trade figures.
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
SOURCE The Freedonia Group