Canada Prescription Lens Market Size & Outlook, 2023-2030
Canada prescription lens market, 2018-2030 (US$M)
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Canada prescription lens market highlights
- The Canada prescription lens market generated a revenue of USD 2,573.5 million in 2023 and is expected to reach USD 3,750.1 million by 2030.
- The Canada market is expected to grow at a CAGR of 5.5% from 2024 to 2030.
- In terms of segment, single vision was the largest revenue generating type in 2023.
- Progressive is the most lucrative type segment registering the fastest growth during the forecast period.
Prescription lens market data book summary
| Market revenue in 2023 | USD 2,573.5 million |
| Market revenue in 2030 | USD 3,750.1 million |
| Growth rate | 5.5% (CAGR from 2023 to 2030) |
| Largest segment | Single vision |
| Fastest growing segment | Progressive |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Bifocal, Trifocal, Progressive, Workspace Progressives, Single Vision |
| Key market players worldwide | Essilorluxottica, ZEISS Group, Hoya Corp, Privé Revaux, Vision Ease Eyewear, Seiko Optical Products, Vision Rx Lab |
Other key industry trends
- In terms of revenue, Canada accounted for 5.6% of the global prescription lens market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. prescription lens market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 3,750.1 million by 2030.
Single vision was the largest segment with a revenue share of 26.99% in 2023. Horizon Databook has segmented the Canada prescription lens market based on bifocal, trifocal, progressive, workspace progressives, single vision covering the revenue growth of each sub-segment from 2018 to 2030.
Canada is one of the most developed and advanced economies across the world. It has a strong focus on medical and healthcare infrastructure. According to Canadian Association of Optometrists (CAO) report, 30% of the Canadian population is expected to be myopic and in addition to its increasing prevalence, myopia is occurring at early ages and progressing at a rate faster than seen in previous generation.
Furthermore, CAO, understanding the severity of health issue includes providing information and education to the doctors, patients, and other stakeholders about the prevention, diagnosis, & treatment procedures for myopia and its complication, which is expected to play a significant role in growth of the market.
The market is further propelled due to increasing number of vision associated problems. Environmental factors, such as longer screen time, longer hours spent on reading & writing, and limited outdoor activities can be attributed to high prevalence of eye disorders in Canada.
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Prescription Lens Market Scope
Prescription Lens Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada prescription lens market size, by type, 2018-2030 (US$M)
Canada Prescription Lens Market Share, 2023 & 2030 (US$M)
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