India Spectacle Lens Market Outlook to 2028

India Spectacle Lens Market Overview

• The India spectacle lens market was valued at approximately USD 1.8 billion in 2018 and grew to around USD 2.5 billion by 2023, with a compound annual growth rate of 7% during 2018-2023. This growth is primarily driven by the increasing prevalence of vision impairment and eye disorders among the population.
• According to a report by the World Health Organization, nearly 50% of the Indian population requires vision correction, contributing to the rising demand for spectacle lenses.
• The market is fragmented with several key players dominate the India spectacle lens market, including Essilor India Pvt. Ltd., Zeiss India, Hoya Lens India Pvt. Ltd., Rodenstock India Pvt. Ltd. And GKB Opticals.
• In 2023, Essilor India launched a new range of blue-light blocking lenses, addressing the increasing concerns about digital eye strain. This product launch came in response to the growing usage of digital devices, which has led to a surge in demand for lenses that can protect eyes from harmful blue light.

India Spectacle Lens Current Market Analysis

• According to the Vision Council of India, over 30% of the population suffers from refractive errors, necessitating the use of corrective lenses.
• The proliferation of online retail platforms has made it easier for consumers to purchase spectacle lenses, contributing to market expansion. The Federation of Indian Chambers of Commerce & Industry reported that the Indian e-commerce market is growing at a rapid pace, providing a significant distribution channel for spectacle lenses.
• The northern region of India, particularly Delhi-NCR, dominates the spectacle lens market. This dominance is attributed to the higher concentration of urban population, better access to healthcare facilities, and higher awareness about vision care.
• According to the Ministry of Health and Family Welfare, Delhi-NCR has the highest number of eye care professionals and optical stores per capita, making it a major hub for spectacle lens sales.

India Spectacle Lens Market Segmentation

The Indian spectacle lens market can be segmented by various factors like material, type, and application. Here's a breakdown of three key segments with sub-segments and their market share:

By Material: India Spectacle lens Market is segmented by material into plastic lens and glass lens. Plastic lenses dominate the market due to their affordability, lightweight nature, and impact resistance. CR-39 lenses are the most popular within the plastic segment due to their balance of price and performance.

By Type: India Spectacle lens Market is segmented by type into single vision lenses, Bifocal lenses and progressive lenses. Single vision lenses hold the largest share due to their suitability for basic vision correction needs. Bifocal lenses cater to the aging population requiring correction for both near and far vision. Progressive lenses are gaining traction due to their seamless visual field transition and convenience.

By Application: India Spectacle lens market is segmented by application into prescription lenses, computer vision lenses and sunglasses lenses. The market is dominated by prescription lenses.  Prescription lenses remain the core market segment, catering to individuals with vision problems. Computer vision lenses are experiencing significant growth due to the rise of digital devices and their associated eye strain.

India Spectacle Lens Market Competitive Landscape

• Established players like Essilor India and Hoya Lens India leverage strong brand recognition and extensive distribution networks, including partnerships with opticians and eyecare professionals.
• In 2023, Essilor India announced the acquisition of a local lens manufacturing company to strengthen its production capabilities and meet the growing demand for spectacle lenses in the Indian market.
• Zeiss India launched its SmartLife lenses in 2022, designed to cater to the visual needs of the modern, connected lifestyle. These lenses provide optimal vision for all distances and angles, adapting to the dynamic visual environment of today's digital age.

India Spectacle Lens Market Analysis

India Spectacle Lens Market Growth Drivers

• Increasing Prevalence of Vision Disorders: According to the All India Ophthalmological Society, the prevalence of refractive errors in India is on the rise, with myopia affecting nearly 30% of children and adolescents. This growing incidence of vision disorders is driving the demand for corrective spectacle lenses.
• Rising Awareness About Eye Health: Public awareness campaigns and initiatives by non-profit organizations have significantly increased awareness about eye health and the importance of regular eye check-ups. According to the National Programme for Control of Blindness (NPCB), these efforts have led to a 20% increase in the number of people seeking vision correction solutions.
• Technological Advancements in Lens Manufacturing: Advancements in lens technology, such as the development of high-index materials and blue-light blocking coatings, have enhanced the functionality and appeal of spectacle lenses. The Indian Institute of Technology (IIT) Delhi has been at the forefront of research and development in this field, contributing to the innovation and growth of the market.
• Innovations in Camera and Lens Technology: Innovations in camera sensors, such as back-illuminated CMOS sensors, enhance low-light performance and image quality. Digital lens surfacing technologies are growing at 10% annually, offering customized designs.

India Spectacle Lens Market Challenges:

• High Cost of Premium Lenses: The high cost of premium and customized lenses remains a significant challenge, limiting their accessibility to a broader population. According to a market survey by the Confederation of Indian Industry (CII), nearly 40% of consumers cited cost as a major barrier to purchasing high-quality lenses in 2023.
• Lack of Awareness in Rural Areas: Despite efforts to increase awareness, there remains a significant gap in vision care knowledge in rural areas. The Indian Rural Health Mission reports that limited access to eye care facilities and optometrists in these regions hampers the adoption of corrective lenses.
• Counterfeit Products: The proliferation of counterfeit and substandard spectacle lenses poses a challenge to the market, impacting the reputation of established brands and leading to potential health risks for consumers. The Federation of Indian Chambers of Commerce & Industry estimates that counterfeit products account for nearly 15% of the spectacle lens market. 

India Spectacle Lens Market Recent Developments:

• Essilor’s Acquisition (2023): Essilor India’s acquisition of a local lens manufacturing company in 2023 aims to boost its production capacity and enhance its market presence in India. This strategic move is expected to cater to the increasing demand for spectacle lenses and improve supply chain efficiencies.
• Zeiss SmartLife Lenses (2022): Zeiss India launched its SmartLife lenses in 2022, which are designed to provide optimal vision for the modern, connected lifestyle. These lenses adapt to dynamic visual environments, offering a seamless visual experience across all distances and angles.
• Hoya’s Advanced Coatings: In 2022, Hoya Lens India introduced advanced anti-reflective and scratch-resistant coatings for its lenses, enhancing their durability and visual clarity. This development has been well-received by consumers seeking high-performance eyewear solutions.
• GKB Opticals Expansion: GKB Opticals announced the expansion of its retail network in 2023, adding 50 new stores across India. This move aims to increase the availability of high-quality spectacle lenses and frames, particularly in tier-2 and tier-3 cities.

India Spectacle Lens Future Market Outlook

The India spectacle lens market is expected to grow steadily with USD 3.7 Bn by 2028, driven by the increasing prevalence of vision disorders, rising disposable incomes, and advancements in lens technology.

Future Market Trends

• Rise of Blue-Light Blocking Lenses: The growing use of digital devices has led to increased awareness about digital eye strain, driving the demand for blue-light blocking lenses. These lenses protect eyes from harmful blue light emitted by screens, reducing eye strain and improving visual comfort.
• Growth of Progressive Lenses: Progressive lenses, which offer a seamless transition between distance and near vision correction, are gaining popularity among the aging population. The increasing prevalence of presbyopia among individuals aged 40 and above is a key driver for this segment.
• E-Commerce Expansion: The expansion of e-commerce platforms is transforming the spectacle lens market, providing consumers with easy access to a wide range of products. The convenience of online shopping, coupled with competitive pricing and home delivery services, is boosting the adoption of spectacle lenses.