New Delhi, July 22, 2016: Increasing population, high prevalence of vision impaired people, augmenting spending capacity, changing lifestyle of people, rising awareness, and age related macular degeneration among growing geriatric population are the major factors contributing towards growing demand for CR39 eyeglasses in India
July 2016
India has maximum number of people with vision impairment in the world. It has been predicted that approximately 550 million people in India are in need of vision correction. Moreover, it has been observed that more than 13% of the children in India are myopic and are in need of vision correction. These statistics clearly explain the demand for CR39 eyeglasses in India; however, the market is constrained by the fact that high proportion of vision impaired population is not aware that they need vision correction. It has been recorded that India loses USD 37 billion (INR 2,035 billion) in annual productivity owing to the poor vision of the people. More than half of them are unaware about the fact and are not adopting means to correct their vision. It has been stated that approximately 41% of the children, 42% of the workers, 42% of drivers, and 45% of the elders need vision correction, but are not aware or are not adopting any preventive measures, restraining the market for CR39 eyeglasses.
Large number of not-for-profit government organizations has taken initiative to spread awareness about necessity to undergo vision test at regular intervals and to provide knowledge about preventive measures. The major example of such initiatives is Essilor Vision Foundation (EVF), which is working in collaboration with Indian non-profit organization, Global Dreams, to increase awareness on eye health and boost vision screening among students and children during their education period. In 2015, EVF distributed 10,000 eyesight check-up charts specifically made in Hindi to primary secondary and junior level government aided schools in Lucknow. The aim was to give school teams an access to quick and effective way to identify students with poor vision and provide them with preventive measures they require. EVF is working to correct vision correction needs of individuals to enable students learn and progress in life. All such efforts by NGOs is leading to high awareness about necessity of vision correction, hence generating revenue for the CR39 eyeglasses market.
The CR39 eyeglasses market has been observed to grow at a double digit CAGR from FY’2011 to FY’2016. Single vision lenses dominated the CR39 eyeglasses market in India. High proportion of myopic people coupled with the changing lifestyle of the people leading to various eye irregularities are the major factors driving the single vision lenses market. However, the improving economic conditions of people in India has increased the demand for progressive lenses in the recent times, and the segment is also expected to experience robust growth during the forecast period, FY’2017 – FY’2021.
The report titled “India CR39 Eyeglasses Market Forecast to 2021 – High Prevalence of Impaired Vision and Increasing Awareness to Fuel Growth” provides detailed overview on the CR39 eyeglasses used in India. The report includes the detailed analysis on the CR39 eyeglasses imports and domestic production market, market by various uses, by different type of frames, by regions and by cities in India. The report also details about the ongoing trends in the industry and the factors which are expected to change the dynamics in the future. The stakeholders of this report includes the CR39 eyeglasses market players, distributors, wholesalers, importers, international manufacturers who are planning to export CR39 eyeglasses to India and the new entrant who wish to invest in India eyeglasses market in future.
Corporate Comm India(CCI Newswire)
