Market size

Refractive error is highly and increasingly prevalent in LMICs. Reliable population- based data are scarce and the current global estimates are based on systematic reviews and meta-analyses:

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However, globally, it is estimated that only 36 per cent of people with a distance vision impairment due to refractive error have received access to an appropriate pair of spectacles. 31 Approximately 90 per cent of people with unaddressed vision impairment or blindness live in LMICs. 32 But the coverage of essential eye care interventions in LICs is up to six times lower than that in HICs.

The global prescription frames and sunglasses retail market is valued at approximately 54 billion dollars39 in 2021 with prescription frames accounting for 61 per cent. The global lenses market is valued at 50 to 60 billion dollars in 2023. 40, 41 Across all segments of eyewear, the market is focused on high-value segments. These segments

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typically target affluent, predominantly urban populations with a preference for more expensive prescription glasses.