Factors such as increasing awareness and education regarding color blindness, technological advancements, increasing prevalence of color are anticipated to boost the growth of the market. In addition, increasing number of optical stores and wide availability of these glasses on E-commerce platform is also projected to enhance the color-correcting glasses market growth over the forecast period.
Increasing prevalence of color blindness is one of the major factor which significantly contributes to the overall market growth. As per the Clinton Eye Associates, there are around 300 million people in the world with color vision deficiency. Around 1 in 12 men are color blind, and 1 in 200 women are color blind. This considerably creates demand for color-correcting glasses during the forecast period.
Rising awareness regarding color blindness and availability of color correcting glasses also contribute to the majority of market share. More individuals are becoming aware of the condition and potential benefits of color correcting glasses, thereby creating demand for color-correcting glasses across the globe. These glasses offer a convenient solution for individuals with color blindness, as they are relatively easy to use and can be worn throughout the day.
Color-correcting glasses Market Segmentation |
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North America held the largest market share in 2022. Increasing demand for color-correcting glasses creates opportunity for several market players to develop and market innovative products. This can drive economic growth and create new job opportunities in North America. Color-correcting glasses market presents significant opportunity for North America to improve the lives of individuals with color blindness, drive economic growth and improve healthcare outcomes.
Some of the key players operating in the color-correcting glasses market include EnChroma, Pilestone Inc, Colorlite Ltd., Covisn, ChromaGen, VINO Optics, SPORTRX, Eyemyeye Private Limited and Carelust LTD. These market players are focusing on organic and in-organic growth strategies to expand their market presence. For instance, in July 2021, EnChroma announced the launch of safety glasses for color blindness.
The distribution channel for color correction glasses is diverse and majorly involves combination of offline and online sales channels. This allows market players to reach wider audience and provide customers with convenient options for purchasing their products. Thus, wide availability and purchasing options of color-correcting glasses is predicted to foster the market growth.
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