South Africa Prescription Lens Market Size & Outlook
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South Africa prescription lens market highlights
- The South Africa prescription lens market generated a revenue of USD 618.0 million in 2023 and is expected to reach USD 757.5 million by 2030.
- The South Africa market is expected to grow at a CAGR of 2.9% 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 618.0 million |
| Market revenue in 2030 | USD 757.5 million |
| Growth rate | 2.9% (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 Africa accounted for 1.3% 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 Middle East & Africa, South Africa prescription lens market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 617.5 million by 2030.
Single vision was the largest segment with a revenue share of 27.12% in 2023. Horizon Databook has segmented the South Africa 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 Africa is expected to experience a significant growth over the forecast period. Factors driving the market are increasing awareness about eye care, developing ophthalmic care facilities, and increasing number of ophthalmic conferences held in the country.
For instance, the International Council of Ophthalmology will be launching an event called World Ophthalmology Congress 2020 in Cape Town between June 26 and June 29, 2020. The event is expected to bring major stakeholders, such as scientists, industrial delegates, ophthalmologist, & hospitals together, which is expected to increase awareness as well as availability of several advanced & innovative ophthalmology treatment procedures in South Africa.
Therefore, increasing awareness coupled with advancing ophthalmology care is expected to impel growth of the South African market. Healthcare expenditure in South Africa is low and access to diagnostic tests is poor for most people in the country.
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Prescription Lens Market Scope
Prescription Lens Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Vision Rx Lab | View profile | 1001-5000 | Kolkata, West Bengal, India, Asia | https://www.visionrxlab.com/ |
| Seiko Optical Products | View profile | 101-250 | Chuo, Hokkaido, Japan, Asia | https://www.seikovision.com |
| Vision Ease Eyewear | View profile | 51-100 | Singapore, Central Region, Singapore, Asia | https://www.visioneaseeyewear.com |
| Privé Revaux | View profile | 11-50 | New York, New York, United States, North America | https://priverevaux.com |
| Hoya Corp | View profile | 36571 | 20th Floor Nishi-Shinjuku Building, 6-10-1, Nishi-Shinjuku, Shinjuku-ku, Tokyo, Japan, 160-8347 | http://www.hoya.co.jp |
| ZEISS Group | View profile | 10001+ | Oberkochen, Baden-Wurttemberg, Germany, Europe | http://www.zeiss.com |
| Essilorluxottica | View profile | 200000 | 147, Rue de Paris, Charenton-Le-Pont, Paris, France, 94220 | https://www.essilorluxottica.com |
South Africa prescription lens market size, by type, 2018-2030 (US$M)
South Africa Prescription Lens Market Share, 2023 & 2030 (US$M)
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