South Korea Prescription Lens Market Size & Outlook
South Korea prescription lens market, 2018-2030 (US$M)
Related Markets
South Korea prescription lens market highlights
- The South Korea prescription lens market generated a revenue of USD 1,245.0 million in 2023 and is expected to reach USD 2,107.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.8% 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 1,245.0 million |
| Market revenue in 2030 | USD 2,107.3 million |
| Growth rate | 7.8% (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, South Korea accounted for 2.7% 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 Asia Pacific, China prescription lens market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 4,463.2 million by 2030.
Single vision was the largest segment with a revenue share of 27.12% in 2023. Horizon Databook has segmented the South Korea prescription lens market based on bifocal, trifocal, progressive, workspace progressives, single vision covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea prescription lens market is expected to grow at a healthy rate over the forecast period. Increasing incidence of myopia and high myopia in Korean adult population is a major factor expected to drive growth.
According to the BMC Ophthalmology, the prevalence of myopia and high myopia in Korean children was 65.4% and 6.9%, respectively, in 2016. Since the prevalence is higher in younger population, which is uncomfortable in wearing spectacles, and the disposable income is increasing, the demand for management methods, such as single vision, trifocal lenses, progressive lenses, and others is expected to rise.
Thus, the growing prevalence of refractive errors in the younger generation is expected to be a major market growth driver.
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Prescription Lens Market Scope
Prescription Lens Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea prescription lens market size, by type, 2018-2030 (US$M)
South Korea Prescription Lens Market Share, 2023 & 2030 (US$M)
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