Global Sales of Prescription Safety Glasses Market is Expected to Accelerate at a Whopping 4.6%: CAGR, Reaching US$ 1.0 Billion by 2031: TMR Report
Increasing adoption of personalized prescription safety glasses in industries including construction, mining, pharmaceuticals, and food processing, is expected to propel the prescription safety glasses market during the forecast period
Wilmington, Delaware, United States, Aug. 18, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global prescription safety glasses market is projected to flourish at a CAGR of 4.6% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 1.0 billion is anticipated for the market in 2031. As of 2023, the market for prescription safety glasses is expected to close at US$ 722.4 million.
The growing need for prescription safety glasses in industries such as construction, manufacturing, healthcare, and laboratories drives the market for prescription safety glasses. Increasing awareness of the importance of eye safety in the workplace and the potential consequences of eye injuries contributes to the demand for protective safety eyewear.
Increasing prevalence of vision disorders, the demand for prescription eyewear, including safety glasses, also increases. Another factor influencing prescription safety glasses is the availability of various types of prescription safety glasses for workplaces. The market player in the market is using 3D printing technology to increase product acceptance among consumers.
Increase in implementation of stringent workplace safety standards to ensure the safety of the workers at the workplace augmenting market statistic. The growing importance of prescription safety spectacles in end-use industries is contributing to the growth of the global market.
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Key Takeaways from the Market Study
- As of 2022, the prescription safety glasses market was valued at US$ 692.7 million
- By distribution channel, the direct segment enjoys high demand, accumulating a high revenue share during the forecast period
- Based on material, the metal segment accounts for the highest market share
- Based on end-use, the automotive segment is expected to generate high revenue during the forecast period, due to the increased demand for safety glasses in the automotive industry.
Prescription Safety Glasses: Key Trends and Opportunistic Frontiers
- The growing industrialization and increase in construction activities globally to boost the market demand for prescription safety glasses during the forecast period.
- Increase the trend of safe & elegant safety eye-wear and availability of various prescription eyeglasses through an online marketplace and e-commerce platforms to drive the market demand
- The increasing demand for personal protective equipment (PPE) to boost market sales.
- The increasing technological advancements in lens technology, materials, and frame designs improve the aesthetics and performance of prescription safety eyewear.
- manufacturers of prescription safety glasses are engaged in the development of technologically advanced products that offer anti-fog coating, adjustable temples, and shatter-resistant lenses.
Prescription Safety Glasses Market – Regional Analysis
- North America is projected to dominate the global market during the forecast period. The increased workplace safety regulations mandate the use of protective eyewear, including prescription safety glasses, in industries such as construction, manufacturing, and healthcare driving the market demand for prescription safety glasses in North America.
- Asia Pacific is estimated to account for a significant market share in the prescription safety glasses market during the forecast period, owing to the rapid industrialization, and increased demand for safety glasses for work, especially in the manufacturing and construction sectors. The increasing demand for safety glasses in the military sector boosts market growth.
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Competitive Landscape
The prescription safety glasses market is highly consolidated with the presence of a few market players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global prescription safety glasses market report:
- ArmouRX
- Global Vision
- Globus Group
- Gunnar
- Hilco
- Honeywell International Inc.
- Safestyle Eyewear US
- Tifosi
- Under Armour
- Wiley X
- Other Key Players
Key Developments in the Prescription Safety Glasses Market
- In March 2021 – GUNNAR Optiks, the preeminent force and No. 1 in gaming glasses, and New England-based esports organization, Oxygen Esports (“OXG”), today announced an exclusive partnership for GUNNAR to become the exclusive eyewear provider of Oxygen Esports.
- Tifosi offers a wide selection of prescription sunglasses, Tifosi RX. Prescription sun & sports glasses are available in a variety of best-selling frames with affordable prescription lenses from Rx Labs. All eyewear is made with the lightweight and durable Grilamid TR-90 material that has made Tifosi the top-selling brand in cycling.
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Prescription Safety Glasses Market – Key Segments
Material
- Metal
- Plastic
- Rubber
- Nylon
- Others (Polycarbonate, etc.)
Shape
- Cat Eye
- Oval
- Rectangle
- Round
- Others (Semi-rimless, Square, etc.)
Size
- Small
- Medium
- Large
- Extra Large
End-use Industry
- Automotive
- Oil and Gas
- Food
- Pharmaceutical
- Others (Mining, Construction, etc.)
Price
- Low
- Medium
- High
Distribution Channel
- Direct
- Indirect
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