Rise in Myopia Means a Boon for Eyewear Industry

"According to mounting research, myopia (nearsightedness) among the young has become a global epidemic. In the United States, myopia rates have roughly doubled over the last generation. A recent study published in JAMA reports that in China (where rates of myopia have skyrocketed to roughly 90% among urban youth), the major cause could be a lack of sun exposure. But young adults aren’t the only ones struggling to see clearly. Older adults are also looking for treatments that address their age-related vision problems. Amid rising demand, the eye care industry is poised to accelerate. It’s already developing new technologies that not only treat, but also prevent (and in some cases eliminate) vision problems," goes the post on Forbes. "With increasing demand from every age group, the $36 billion eye care industry has a bright future. The industry, which includes eye care professionals (opticians, optometrists, and ophthalmologists) and products (eye glasses, contact lenses, and corrective surgeries,) posted a steady combined annual growth rate of 3.4% from 2006 to 2012, outpacing the average growth of the economy at large (2.9%) over those years. Forecasters expect this rate to increase to 5.0% from 2014 to 2019." Read more, especially about the growth of myopia.