Eyewear Market Growing at 3%

Global spectacles market is forecasted to grow at the compounded annual growth rate of 3% and reach the market value of $24 billion by the year 2016, according to a report issued by Transparency Market Research. The growth is not surprising after the researchers note that approximately a third of the Americans and western Europeans older than 40 have eyesight that needs correction. Occurrence of myopia is higher, around 70-90% in some Asian countries. Compared to men, women are at higher risk of developing refractive errors. Read more.