Market segmentation
- By type: The eyeglasses market is segmented into prescription glasses and reading glasses. Prescription glasses can be single
focus (e.g. for myopia, hyperopia, or astigmatism) or multifocal (e.g. for astigmatism or combined myopia, hyperopia, and
presbyopia). Multifocal lenses can be further segmented into bifocal lenses that are split into an upper part for distance
vision and a lower part for near vision; and progressive lenses that contain three main fields of vision including near, intermediate
and distance. Reading glasses are ready- made magnifiers that have the same corrective power on both lenses.46
- By component: Frames and lenses from prescription glasses are commonly procured separately so consumers have more control
over the style, comfort, functionality, and price. Ready-made reading glasses, however, are sold as finished goods.
Component can be further segmented as follows:
- Eyeglass lenses:
- Lens material:
- Glass or plastic are the main materials for making glass lenses. Glass lenses have a higher refractive index, giving them
a thinner and more attractive appearance, but their low impact resistance makes them prone to breakage and unsafe for wearing.
Today, most eyeglass lenses are plastic. Resin is the most used material in current plastic lens production. For example,
the proportion of resin lenses in the production volume of spectacle lenses in China is around 95 per cent. Resin lenses can be half the weight of traditional glass lenses while offering higher impact resistance.
- Lenses can have various coatings for scratch resistance, anti-glare, ultraviolet protection, and anti-reflective properties.
- Lenses are further categorized as standardized or customized lenses.
- Standardized (‘finished’) lenses are most common in the market. These lenses are mass-produced with certain standardized refractive
indices, designs, and functionalities. They are then edged and assembled onto frames for end users. They are designed to fit
a broad range of prescriptions and may be readily available in optical stores without the need for customization.
- Customized lenses are tailored to the specific needs of an individual’s prescription, eye shape, and lifestyle. Customization
may involve factors such as lens power, lens material, coating options, and additional features based on the wearer’s requirements.
- Lenses are available cut or uncut.
- Cut lenses are fitted to specific frame designs.
- Uncut lenses are sized to the prescription. These are edged and mounted onto the frame in a local optical assembly lab. Having
the option to finish uncut lenses in-house can better fit user preferences on frame designs.
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- Lens production:
- Plastic lenses are typically mass-produced via a precise injection mould, which is inexpensive and rapid.
- Glass lenses are more complex to produce, involving additional steps such as polishing.
- Lens market structure:
- Mass production of plastic lenses is concentrated in China where around 560 Chinese manufacturers make resin lenses. Globally, a little less than 30 per cent of the lens market is held by small to medium-sized manufacturers.
- Lens delivery:
- Users acquire lenses from hospitals, clinics, or retailers, usually along with frames following an eye examination for a prescription.
- Eyeglass frames:
- Frame materials:
- Typically made from metal (e.g., aluminium, silver, stainless steel, or titanium), plastic or wood. Metal frames are more
durable but also more expensive. Plastic frames are the most affordable. Two commonly used plastic frame materials are Zyl
and propionate.
- Frame-production processes:
- Injection moulding for plastic or metal forging and bending.
- Computer Numerical Control machines to cut acetate or plastic blanks to produce glasses.
- Frame market structure:
- Because eyeglass production is simpler than lens production, and because frames serve as fashion accessories rather than a
medical product, there are many smaller manufacturers with the capability of producing frames.
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- Frame delivery:
- Consumers acquire frames from hospitals, clinics, or retailers, usually along with lenses following an eye examination for
a prescription.
- Reading glasses: Reading glasses typically have power ranging from +0.75D to + 4D with 0.25D intervals. Reading glasses can
be categorized by frame type: full- frame, half-frame, and rimless glasses, while full-frame glasses have the largest market
share.
- Reading glasses materials:
- Typically made from plastic lenses and frames.
- Reading glasses production processes:
- Lenses of specific powers are edged and assembled onto the frame and sold as ready-made products in the market.
- Reading glasses market structure:
- Reading glasses are mass-produced with standardized magnification strengths. They typically have a simple design with the
same magnification power in both lenses. Simplicity and lack of customization not only contribute to lower production costs
but also attract many smaller companies to manufacture. Compared to optical lenses, the reading glass market is much more
crowded with many smaller companies such as those in China manufacturing them at low prices. Reading glasses face significant
demand across many countries. Large companies on this market, such as FGX, an EssilorLuxottica subsidiary, focus on the design,
manufacture and distribution of non-prescription glasses including reading glasses.
- Reading glasses delivery:
- Ready-made readers are generally available as consumer products in LMICs; thus, consumers can acquire readers in different
places such as optical shops, retails, pharmacies, and e-commerce platforms.