The worldwide safety eyewear market is anticipated to reach a market size of US$ 4 billion in 2023 and US$ 7 billion by 2033, growing at a compound annual growth rate of 5.8%. The main factor propelling the global safety eyewear market is the tremendous growth of the development and assembly sectors.
Safety eyewear market is being pushed by an increase in the number of surgical operations, increased awareness of hospital acquired infections, and an increase in the prevalence of infectious illnesses globally.
In 2013, infectious illnesses killed 9.2 million people worldwide, according to the Global Burden of Disease Study-2013.
The World Health Organization (WHO) predicts that the frequency of chronic illness would rise by 57% by 2020. Furthermore, the worldwide pandemic is on the increase. These elements are propelling the need for safety eyewear.
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A growth in awareness about hospital acquired illnesses is also driving the demand for safety eyewear. According to a survey issued by the European Centre for Disease Prevention and Control (ECDC), one out of every 18 patients in European hospitals suffers from a hospital-acquired illness (HAI).
Furthermore, HAIs affect approximately 3.2 million patients per year on average. Such incidents motivate the use of safety eyewear.
During the forecast period, the market is expected to be driven by an increase in funding for research on the diagnosis of infectious diseases.
Key Takeaways from the Market Study
- FMI projects the global Safety Eyewear market to expand at a 5.8% value CAGR by 2033
- The global Safety Eyewear market is estimated at a market value of US$ 4 Billion
- As per the safety eyewear market size analysis, the global Safety Eyewear market is expected to garner a market value of US$ 7 Billion
- Asia Pacific is expected to be the most lucrative for safety eyewear market growth during the projection period
- During the projection period, North America is estimated to grow at a CAGR of 5.5%.
- Europe is expected to grow at a CAGR of 5% during the projection period
- The industrial manufacturing category is expected to hold the greatest share of the safety eyewear market in the forecast period 2023-2033.
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“Governments have developed criteria for the safety of experts in many regions and sectors, which is expected to boost the safety eyewear market. In addition, an increase in the frequency of catastrophes at work locations is expected to drive the market. “Says an analyst at FMI
Market Competition
Key players in the safety eyewear market are Kimberly-Clark Corp., MCR Safety, Honeywell International, Inc., UVEX Winter Holding GmbH & Co., KG, Medop SA, 3M Company, Bolle Safety, Radians, Inc., Pyramex Safety Products LLC and Gateway Safety, Inc.
Recent Development:
- In August 2022, UVEX debuted the uvex-i line of safety eyewear, which protects employees against a wide range of occupational risks. The eyewear has broad, flat lenses for an unobstructed field of view, as well as an expanded side shield for further protection against threats. Uvex manufactures this line of eyeglasses using sustainable raw materials derived from the castor oil plant and electricity derived from biomass sources.
- In July 2022, Bollé Safety introduced a new high-clarity lens dubbed Comfort Sense Perception to safeguard employees under all situations. The new technology is available in seventeen lens tints and a wide range of SKUs that are adaptable to indoor, indoor/outdoor, and outdoor work situations. It improves sight, visual comfort, and definition. The technology protects the eyes while improving vision in all light-sensitive situations, such as UV, glares, LED, welding gas, and low contrast.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the global Safety Eyewear market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of by Product (Prescription, Non-prescription), by Application (Construction, Industrial Manufacturing), across five major regions (North America, Europe, Asia Pacific, Central & South America and Middle East & Africa).
About the Consumer Product at Future Market Insights
The consumer product team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
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