The demand within the Middle East eyewear market has been rising on account of advancements in the field optometry and ophthalmology. Several advanced technologies for testing eye health have come to the fore in recent times, and this factor has overhauled the dynamics of the Middle East eyewear market. A large population of people wears spectacles, either to enhance vision or to avert dust and other particles. The market for eye wear in the Middle East has been expanding at a boisterous pace, as several healthcare organisations emphasize on the need for improved optometry. The use of eyewear is not restricted to a particular population demographic, and people from all age groups use them. This implies that the market for eyewear caters to a large populace across the globe. This trend has reflected in the regional markets, and has given a push to the growth of the Middle East eyewear market. The Middle East has heavily invested in improving optometry, and this factor has aided the growth of the regional market.
The market for eyewear in the Middle East endows commendable opportunities for growth as new technologies emerge in the field of ophthalmology. The market for eyewear in the Middle East is expected to expand at a robust CAGR of 8.80% during the period ranging 2015-2023. The market value of the regional eyewear market is projected to touch a value of US$5.86 bn by 2023, rising up from a valuation of US$2.75 bn in 2014.
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This report preview by Transparency Market Research (TMR) on the Middle East eyewear market is a dexterous account of the various forces of market demand. The segments pertaining to the Middle East eyewear market have been elucidated in this report preview. Furthermore, the regions covered in the report on the Middle East eyewear market have also been included in this preview.
Soft Contact Lenses to Witness Tremendous Demand
The market for eyewear in the Middle East has been expanding in lieu of advancements in manufacturing technologies for eyewear. Based on the type of product, the Middle East eyewear market has been segmented into soft contact lenses, spectacle lenses, contact lenses, spectacles, rigid contact lenses, plano sunglasses, non-polarized sunglasses, and polarized sunglasses. The demand for soft contact lenses is increasing as people want to get rid of spectacles. Sportspersons extensively use contact lenses as they provide greater freedom to perform strenuous activities. The market for polarized sunglasses is on also on a rise due to the distinct properties of these glasses. Sunglasses are also in great demand as the former have emerged as a key fashion statement.
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Asia Pacific to Witness Paced Growth
On the basis of geography, the market for eyewear in the Middle East has been segmented into Saudi Arabia, Oman, UAE, Qatar, Kuwait, Egypt, Bahrain, Lebanon, Jordan, and Rest of Middle East. The market for eyewear in Saudi Arabia is growing alongside advancements in the field of optometry in the Kingdom. The market for eyewear in Kuwait, Oman, and UAE is expanding on account of the adoption of the latest fashion trends in these countries.
Several regional and local vendors have heavily invested in the Middle East eyewear market. Some of the key vendors in the Middle East eyewear market are Carl Zeiss A.G, Luxottica S.p.A, Essilor International, Johnson and Johnson Vision Care, and Safilo Group.