Market growth drivers
Continued growth is projected for the global eyeglasses market, attributed to:
- Demographic shift: Nearly everyone will experience presbyopia as they age. WHO predicts that 1 in 6 people in the world will
be over 60 years of age by 2030. Ageing has become more pronounced in LMICs and the WHO projects that by 2050, two thirds
of the global population aged 60 and above will reside in LMICs.
- Lifestyle changes: A combination of genetic and environmental factors can cause myopia. Lifestyle changes, for example, reduced
time spent outdoors, increased screen time, and increased near work, among other factors, contribute to more myopia cases.
According to estimates, the global myopia burden will increase to 4.8 billion in 2050 (affecting approximately 50 per cent
of the global population).
- Growing policy focus: WHO member states have adopted a resolution in 2021 that aims to achieve a 40-percentage point increase
in effective coverage of RE by 2030. Increased public awareness about eye health, fuelled in part by government and NGO initiatives, is propelling the demand
for eyewear. For example, the President of Nigeria announced a national initiative in 2023 to provide eyeglasses to 5 million
Nigerians.