Market revenue in 2023 | USD 2,438.2 million |
Market revenue in 2030 | USD 3,425.5 million |
Growth rate | 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 |
Single vision was the largest segment with a revenue share of 27.06% in 2023. Horizon Databook has segmented the Germany prescription lens market based on bifocal, trifocal, progressive, workspace progressives, single vision covering the revenue growth of each sub-segment from 2018 to 2030.
The prevalence of myopia is relatively low in Germany, but the contribution of myopia to blindness is expected to increase over time. Moreover, the increasing number of presbyopia cases in the rapidly aging population is expected to drive demand for prescription lenses.
Furthermore, supportive government programs, such as USD 1.5 million funding of a Berlin-based startup called Dopavision—involved in developing a digital therapeutic for myopia—is expected to drive related research.
Thus, the increasing prevalence of refractive errors and rising government funding are expected to drive the market. High geriatric population coupled with technological advancements is also boosting the market. Germany is experiencing a demographic shift due to low birth rate and increased life expectancy.
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