Industry Research Report

Monday, 21 June 2021

Fiber Optics Market SWOT Analysis, Growth Rate of Top Manufacturers Profiles

Global Fiber Optics Industry: A Latest Research Report to Share Market Insights and Dynamics

According to a new study published by Polaris Market, the global Fiber Optics Market is anticipated to reach USD 7 billion by 2026. The market for Fiber Optics is propelled by factors including, increasing penetration of internet, rising government funds for the development of broadband infrastructure, and intense research investments by the companies for development of innovative and new technology in the fiber optic to enable cost-savings.

The plastic optic fiber market is expected to notice a high growth during the projected period. The core material (polymer) used for construction of plastic optic fiber is different from the material (glass) used in single mode and multimode.

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This provides a dynamic application and helps in saving cost. Further, the telecommunication application segment is dominating the market for fiber optics attributed to the escalating demand for internet in developing economies. This segment is expected to witness constant growth owing to growing telecommunication industry particularly in Asia Pacific and Middle East & Africa region.

The Asia Pacific Fiber Optics Market is anticipated to witness the highest growth followed by Middle East & Africa. Increased industrialization, increasing adoption of smart devices resulting in high demand for internet, and blooming telecommunication industry are the major factor for propelling market growth in Middle East & Africa. Further, rising fiber optics applications in medical sector is driving market growth in countries including, China, India, and Japan. Also, governments of developed nations such as US, Japan, Germany, UK, and China are significantly investing to improve their country’s security infrastructure. Thus, with the adoption of fiber optics by the government, due to the benefits delivered by it, has further resulted in increased the Fiber Optics Market growth.

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Corning, one of the leading company in fiber optics market stated that the market demand is surpassing supply. The company announced its plans to spend USD 176 million in the next two years for building a new manufacturing facility for optical fiber as well as to expand its existing facility. Also, Finisa, a transceiver vendor, is also planning to construct a new manufacturing plant in China and expand its existing facility in Texas. Such development reflects the increasing market growth. The major players operating in the Fiber Optics market include Corning Incorporated, Prysmian S.p.A., Optical Cable Corporation, OFS Fitel, LLC, AFL, Furukawa Electric, Sterlite Technologies Limited, Finolex Cables Ltd., YOFC and General Cable Corporation among others.

Automotive ECU Market SWOT Analysis, Growth Rate of Top Manufacturers Profiles

Global Automotive ECU Industry: A Latest Research Report to Share Market Insights and Dynamics

The global Automotive ECU Market is anticipated to reach around USD 67.7 billion by 2026 according to a new research published by Polaris Market Research. In 2017, the passenger vehicles segment dominated the global market, in terms of revenue. In 2017, Asia-Pacific accounted for the majority share in the global Automotive ECU market.

The expanding global automotive industry, along with increasing demand for passenger cars majorly drives the market growth. The adoption of electric vehicles has increased significantly owing to stringent government regulations regarding vehicular emissions, thereby supporting market growth. Other factors driving the market growth include growing demand of ADAS systems, technological advancements, and modernization of vehicles. New emerging markets, emerging consumer demographics, and increasing demand of vehicles would provide growth opportunities for automotive ECU market in the coming years.

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Market players operating in the global automotive ECU market are investing significantly in research and development and technological innovation to develop advanced products to meet the growing consumer demands. The development of autonomous vehicles is significantly increasing the demand for automotive ECU. Electric vehicles are increasingly being adopted worldwide owing to stringent regulations regarding vehicular emissions.

In 2017, Asia-Pacific accounted for the highest share in the global automotive ECU market. The primary factors driving the automotive ECU market growth in the region include established automotive industry, technological advancements, and high investment in R&D. The introduction of stringent government regulations regarding vehicular safety and emissions accelerates the adoption of automotive ECU in the region. The economic growth in countries such as China, Japan, and India, increasing development of autonomous vehicles, and growing automotive modernization further increases the demand of automotive ECU in the region.

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The well-known companies profiled in the report include Denso Corporation, Lear Corporation, Continental AG, Delphi Automotive PLC, Hella KGaA Hueck & Co., ZF Friedrichshafen AG, Robert Bosch GmbH, Autoliv Inc, Hitachi Automotive Systems, Ltd., and Infineon Technologies AG. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

Virtual Clinical Trials Market SWOT Analysis, Growth Rate of Top Manufacturers Profiles

Global Virtual Clinical Trials Industry: A Latest Research Report to Share Market Insights and Dynamics

The report “Virtual Clinical Trials Market Share, Size, Trends, Industry Analysis Report, By Design (Observational Trials, Interventional Trials, Expanded Access Trials), By Indication (CNS, Autoimmune/Inflammation, Cardiovascular Disease, Metabolic/Endocrinology, Infectious Disease, Oncology, Genitourinary, Ophthalmology), By Phases (Phase I, Phase II, Phase III, Phase IV), By Regions; Segment Forecast, 2020 –2027” gives a detailed insight into current market dynamics and provides analysis on future market growth. The global virtual clinical trials market size is expected to reach USD 13.78 billion by 2027 according to a new study by Polaris Market Research

Virtual Clinical Trials (VCT) are a new method of directing clinical trials which is inclusive of web platforms (informed consent, recruitment, adverse reactions, counseling and measurement of endpoints) and taking advantage of technology such as monitoring devices, apps and others. VCT also allows participant to be home-based at all clinical trial stage. VCT are operationally feasible and have lower drop-out rates, higher recruitment rates, better compliance and are faster than traditional method.

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The prominent factors favoring the global market growth include scarcity of time in traditional clinical trials, rising R&D for the development of new drugs and vaccines, adoption of telemedicine and increasing demand for patient diversity. Additionally, COVID-19 pandemic has led to upsurge virtual clinical trials given the trials need to be conducted digitally. Thereby, companies all around the globe are aiming on developing virtual trial technologies to meet the growing demand for solutions to fight Covid-19. For instance, in June 2020, TRHC (Tabula Rasa HealthCare), developer of healthcare software solutions, announced its partnership with Regence BlueShield, a health plan provider, for conducting virtual trials for different drug candidates, and to examine the ADEs (adverse drug events) in each.

Market participants such as LEO Innovation Lab, Covance Inc., CRF Health, Oracle Corporation, Oracle Corporation, Medable, Inc., Parexel International, Clinical Ink, Inc., PRA Health Sciences, Science 37 and ICON plc. are some of the key players operating in the global market.

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Players in the market are strategizing on developing new virtual clinical trial technology to cope up with the augmenting healthcare industry and thereby, establish their market place. For instance, in May 2020, AiCure LLC, an advanced data analytics and artificial intelligence company, partnered with Science 37, a clinical research company, to leverage a decentralized research model for enabling home based clinical trial for assessing an experimental drug for major depression disorder (MDD).

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Mindfulness Meditation Apps Market 2021 SWOT Analysis, Top Key Company Profiles and Latest Trends

Global Mindfulness Meditation Apps Industry: A Latest Research Report to Share Market Insights and Dynamics

The global mindfulness mediation apps market size is expected to reach USD 4,206.1 million by 2027 according to a new study by Polaris Market Research. The report “Mindfulness Meditation Apps Market Share, Size, Trends, Industry Analysis Report, By Operating System (Android, iOS, Others); By Service Type (Paid-in App purchases, Free); By Age Group (6–12 Years Old, 13–18 Years Old, and 19 Above); By Regions; Segment Forecast, 2020 –2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Mindfulness Meditation Applications are Android and iOS apps developed to help end users to build awareness through meditation. In other words, the term mindfulness meditation helps to understand our behaviors and emotions, enjoy a moment of calm, bring more joy, clarity and peace of mind into life and helps to overcome the mental illness through free and paid available apps on devices.

On the backdrop of transforming consumer’s preference with integration of sensor technologies, increased adoption of smart phones and growing reliance on digital platform are factors contributing to the optimistic outlook of the global market. Consumers from China, U.S., Japan, South Korea and European nations is anticipated to show more willingness towards spending on mindfulness meditation apps. Over the years, the global market has witnessed several collaboration and partnerships between the app developers and public & private institutions, airlines, communities and others which has create several growth opportunities for app developers.

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Recent technological advancements by key companies, such as advanced sensor and touch input technologies are helping the end users to monitor the brain activities and to meditate properly. These new technologies are gaining momentum in the global market not only because of the physical wellness of the end users but for also providing mental wellness to the end users.

Stress and depression level among end users worldwide is playing a key factor while adopting mindfulness meditation applications. Approximately 1 out of 6 people are currently facing at least one mental disorder across the globe. In the UK, US, and China, almost more than 65%, 30%, 40% of people are reported with mental disorder respectively. As a result of this, meditation applications are becoming a source of life for overstressed end users. Key companies in the mindfulness meditation application industry, including Headspace, Calm, and others have witnessed a more than 65 Mn downloads with over 50,000 downloads each day of these apps across more than 180 countries.

Market participants such as Calm, Headspace, Breethe, Insight Timer, Waking Up, Meditopia, BetterMe, Simple Habit, Aura Health, and Moov are some of the key players operating in the global mindfulness meditation apps market. Two industry giants, Calm and Headspace holds the leading share in the global market and is likely to attract more investors and consumers in near future owing to its brand positioning across the globe.

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In June 2020, Snap Inc., the U.S. based tech start up announced the launch of in-App meditation experience in association with the Headspace, well known provider of guided meditation to improve happiness, health, and mindful-ness across the globe. The company’s feature will provide mindful and meditation exercises to the stressed individuals from daily routine.

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Refurbished Medical Imaging Equipment Market 2021 SWOT Analysis, Top Key Company Profiles and Latest Trends

Global Refurbished Medical Imaging Equipment Industry: A Latest Research Report to Share Market Insights and Dynamics

The global refurbished medical imaging equipment market size is expected to reach USD 21.14 billion by 2027 according to a new study by Polaris Market Research. The report “Refurbished Medical Imaging Equipment Market Share, Size, Trends, Industry Analysis Report, By Product Type (CT Scanners, MRI Scanners, X-ray Systems, Ultrasound Systems, SPECT and PET Scanners, Urology Equipment, Neurology Equipment, Endoscopy Equipment, IV Therapy Systems, and Others); By End User (Hospitals, Diagnostic Imaging Centers, and Others), By Regions; Segment Forecast, 2020 –2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Refurbished equipment is second hand old equipment restoring the devices to original condition without damage to the specifications. The safety and effectiveness of the refurbished equipment is comparable to new devices. In refurbishment process the equipment will undergo changes like decontamination, calibration, repair, software upgrade, cosmetic rehabilitation, replacement of worn parts, and other procedures to match to original OEM specifications.

The OEM refurbished equipment is good alternative to new products, as these systems undergo complete set of industrial procedures and available with high quality, lower price and manufacturer warranty. Hence, adoption of refurbished products helps hospitals and diagnostics centres to reduce the investments on infrastructure.

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The refurbished medical imaging equipment is cost-effective which can be bought for as low as 30% to 70% of the original equipment cost. The cost of these second hand devices, depending on features, age of the system and the condition. By purchasing refurbished equipment, the hospitals can upgrade their imaging capability at the lower cost.

The market growth is primarily attributed to increasing demand for cost-effective medical imaging equipment, increasing adoption of refurbished equipment in private healthcare sector, tax incentives, extended service life of refurbished equipment and growing e commerce. There is an increasing demand for low cost medical imaging equipment by small and mid-level hospitals, diagnostic centres and private medical institutions due to lack of enough financial resources.

Emerging and low income countries are the lucrative target destination for the concerned market. In India, district, municipal and less sophisticated hospitals often go for used medical devices due to budget constraints. Indian hospitals demand continuous service back-up for instruments and the spare parts being sold and international companies need to have liaison offices in the country to promote the sale of these devices.

Market participants such as GE Healthcare, Siemens Healthineers, Koninklijke Philips N.V., Block Imaging, SOMA TECH INTL., US Med-Equip, Avante Health Solutions, Everx Pvt Ltd., Integrity Medical Systems, Inc., Radiology Oncology Systems, Inc., Master Medical Equipment, Hilditch Group, Fair Medical Co. Ltd., Future Health Concepts, US Medical Systems, LLC., Nationwide Imaging Services, Pacific Healthcare Imaging, LLC, Venture Medical ReQuip, Inc., Desert Tech Medical Systems, and Hi Tech International Group, Inc. are operating in the concerned market.

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The companies in the market are focussing on acquisitions to increase their market share. For instance, recently in February 2020, the U.S., based supplier of refurbished medical equipment Probo Medical, announced the acquisition of Elite Medical Technologies, LLC and Future Medical Equipment, Ltd. The former is the renowned re-seller of the pre-owned digital medical devices, while the latter is specialized in de-installation and sales of second hand equipment.

Polaris Market Research has segmented the refurbished medical imaging equipment market report on the basis of product type, end-use, and region

Refurbished Medical Imaging Equipment by Product Type Outlook (Revenue-USD Million, 2016 – 2027)

CT Scanners
MRI Scanners
X-ray Systems
Ultrasound Systems
SPECT and PET Scanners
Urology Equipment
Neurology Equipment
Endoscopy Equipment
IV Therapy Systems
Others

Refurbished Medical Imaging Equipment by End-Use Outlook (Revenue – USD Million, 2016 – 2027)

Hospitals
Diagnostic Imaging Centers
Others

Refurbished Medical Imaging Equipment by Regional Outlook (Revenue – USD Million, 2016 – 2027)

North America
- U.S.
- Canada
Europe
- France
- Germany
- UK
- Italy
- Spain
- Netherlands
- Austria
Asia Pacific
- China
- India
- Japan
- Malaysia
- South Korea
- Indonesia
Central & South America
- Mexico
- Brazil
- Argentina
Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa

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Herbal Supplements Market 2021 SWOT Analysis, Top Key Company Profiles and Latest Trends

Global Herbal Supplements Industry: A Latest Research Report to Share Market Insights and Dynamics

The global Herbal Supplements Market size is anticipated to reach USD 137.3 billion by 2026 and is estimated to grow at a CAGR of 10.8% during 2018-2026 according to a new study published by Polaris Market Research. In 2017, the pharmaceutical segment accounted for the highest market share in terms of revenue. North America is expected to be the leading contributor to the global market revenues in 2017.

The obese and geriatric population is increasing worldwide, promoting the growth of the herbal supplements. The sedentary lifestyle, increasing use of functional foods, and growing consumer awareness regarding preventive health care boost the overall market growth. Increasing disposable incomes in developing countries, rising awareness about health benefits of herbal supplements, and rising health disorders propel the growth of the herbal supplements industry. Sedentary lifestyle of consumers leading to lifestyle diseases, and increasing disposable income drives herbal supplements market growth.

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Health disorders such as diabetes, cardiovascular diseases, cancer and others have increased significantly in the developed economies in past few years. Increasing incidences of health disorders have resulted in increased awareness regarding healthy eating habits. Health and fitness consciousness has also increased among consumers in countries such as China and India due to improving lifestyle and changing food habits. Consumers are more aware regarding their nutritional intake, and benefits of herbal supplements, thereby accelerating the market growth for Herbal Supplements.

North America generated the highest market share in terms of revenue in 2017 and is expected to lead the global market throughout the forecast period. The increasing obese population, initiatives and funding by governments to promote health consciousness, and lifestyle changes primarily drive the growth of this market. The number of memberships for health clubs and gyms has increased significantly promoting the growth of Herbal Supplements industry in the region. The increase in obesity related diseases such as diabetes and hypertension along with high disposable income of consumers further propel the adoption of herbal supplements.

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The well-known companies profiled in the Herbal Supplements report include Herbalife International of America, Inc., Ricola AG, Archer Daniels Midland Company, Nutraceutical International Corporation, Bio-Botanica Inc., Arizona Natural Products, Blackmores Ltd, The Himalaya Drug Company, Dr. Willmar Schwabe GmbH & Co. KG, and Rainbow Light Nutritional Systems. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers. Leading players in the Herbal Supplements industry are also taking initiatives to increase awareness among consumers through health subscription and other marketing campaigns. In October 2014, Herbalife launched a new range of herbal green tea, which is available in two flavors, original and pomegranate. This range of green tea contains lower calories and is free of artificial sweeteners, flavors, and colors.

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Mesenchymal Stem Cells Market 2021 SWOT Analysis, Top Key Company Profiles and Latest Trends

Global Mesenchymal Stem Cells Industry: A Latest Research Report to Share Market Insights and Dynamics

The global mesenchymal stem cells market size to reach USD 2,518.5 Million by 2026, growing at a CAGR of 7.0% during forecast period, according to a new research report published by Polaris Market Research. The report ‘Mesenchymal Stem Cells Market, [By Source (Bone Marrow, Umbilical Cord Blood, Peripheral Blood, Lung Tissue, Synovial Tissues, Amniotic Fluids, Adipose Tissues); By Application (Injuries, Drug Discovery, Cardiovascular Infraction, Others); By Region]: Market Size & Forecast, 2018 – 2026’ provides an extensive analysis of present market dynamics and predicted future trends. The market was valued at USD 1,335.1 million in 2017. In 2017, the drug discovery application dominated the market, in terms of revenue. North America region is observed to be the leading contributor in the global market revenue in 2017.

are adult stem cells, which are traditionally found in the bone marrow. However, they can also be parted from other available tissues including peripheral blood, cord blood, fallopian tube. These stem cells mainly function for the replacement of damaged cell and tissues. The potential of these cell is to heal the damaged tissue with no pain to the individual. Scientists are majorly focusing on developing new and innovative treatment options for the various chronic diseases like cancer. Additionally, the local governments have also taken various steps for promoting the use of these stem cells.

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The major key players operating in the industry are Cell Applications, Inc., Cyagen Biosciences Inc. Axol Bioscience Ltd., Cytori Therapeutics Inc., Stem cell technologies Inc., Celprogen, Inc. BrainStorm Cell Therapeutics, Stemedica Cell Technologies, Inc. These companies launch new products and undertake strategic collaboration and partnerships with other companies in this market to expand presence and to meet the increasing needs and requirements of consumers.

The significant aspects that are increasing the development in market for mesenchymal stem cells consist of enhancing need for these stem cells as an efficient therapy option for knee replacement. Raising senior populace throughout the world, as well as increasing frequency of numerous persistent conditions consisting of cancer cells, autoimmune illness, bone and cartilage diseases are elements anticipated to enhance the market development throughout the forecast period. The mesenchymal stem cells market is obtaining favorable assistance by the reliable federal government policies, as well as funding for R&D activities which is anticipated to influence the market growth over coming years. According to the reports released by world health organization (WHO), by 2050 individuals aged over 60 will certainly make up greater than 20% of the globe’s population. Of that 20%, a traditional quote of 15% is estimated to have symptomatic OA, as well as one-third of these individuals are expected to be influenced by extreme specials needs. Taking into consideration all these aspects, the market for mesenchymal stem cells will certainly witness a substantial development in the future.

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Increasing demand for better healthcare facilities, rising geriatric population across the globe, and continuous research and development activities in this area by the key players is expected to have a positive impact on the growth of Mesenchymal Stem Cells market. North America generated the highest revenue in 2017, and is expected to be the leading region globally during the forecast period. The Asia Pacific market is also expected to witness significant market growth in coming years. Developing healthcare infrastructure among countries such as China, India in this region is observed to be the major factor promoting the growth of this market during the forecast period.

Connected worker Market 2021 SWOT Analysis, Top Key Company Profiles and Latest Trends

The global Connected Worker market size is projected to reach USD 21.9 billion by 2028, growing at a CAGR of 27.0% during the forecast period. The report “Connected Worker Market Share, Size, Trends, Industry Analysis Report By Component; By Technology (RFID Location Triangulation, Wi-Fi, Cellular, Bluetooth, Low-Power Wide-Area Network (LPWAN), Wireless Field Area Network (WFAN), and Zigbee); By Deployment; By End-user (Manufacturing, Construction, Mining, Oil & Gas, and Others); By Regions, Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The hardware segment has registered a higher revenue share in the global connected worker market. The software segment is anticipated to grow exponentially with a CAGR of 27.8% during the forecast period, i.e. 2021 to 2028. In terms of regional outlook, the Asia Pacific region is anticipated to grow substantially with a CAGR of over 28%. Furthermore, the RFID location triangulation segment is projected to rise to USD 6.3 billion by 2028.

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The report gives a holistic view of current market dynamics and provides a prediction on future market trends. The increasing need for a collaborative working environment, rapid technological advancements, rising demand for mobility, and improved workforce productivity are some of the major factors fueling the growth of the global connected worker market. Increased use of smartphones, growing adoption of IoT, and increasing inclination towards technology further boosting the growth of the global connected worker market. The rising need for streamlining business operations to increase productivity and ensure safety fostering the adoption of connected worker technologies. In addition to this, growing safety concerns and strict regulations for workforce safety are the key driving factors for the global market.

All the workers from the manufacturing plant were previously used to manually cross-check all the day to day operations. With the emergence of connected worker technology, the industry experiencing an advanced era of connectivity. This has greatly reduced the possibilities of human errors and enhanced digitalization for smoother operations. A connected worker solution is a unique platform that helps to keep continuous tracking and real-time visibility of all processes. Flexible remote assistance with the assistance of augmented reality technology is some of the key features that further supported the connected worker platforms.

The leading market players are involved in various activities such as acquisitions, collaboration, joint ventures, partnerships, and mergers for taking lead in the global connected worker market. Increasing technological advancements along with the invention of innovative products at low costs and rising spending from the IT services industry are envisioned to bolster the demand for the global connected worker market over the forecast period.

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The connected worker market in the North American region is providing lucrative opportunities in the form of expansions for several market players. Increased smartphone penetration along with improved internet & broadband connectivity coupled with rising customer demand for continuous access to content are expected to foster the growing connected worker market. In addition to this, several new entrants are entering the market focusing to expand their operations, boosting demand for connected workers. On the basis of regions, North America emerged as the biggest market for connected worker solutions.

Some well-established companies operating in the global connected worker market include Avnet, Inc., Accenture, 3M Company, Honeywell International Inc., Fujitsu Ltd., Intel, Oracle Corporation, Smart Track S.R.L., Wearable Technologies Limited, Vandrico Solutions Inc., Wipro, and Zebra Technologies. Key market participants are continuously involved in collaborations and product launches to innovate solutions offering to meet growing requirements from consumers.

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Sunglasses Market Analysis, Revenue, Price, Share, Growth Rate, Forecast to 2028

The global Sunglasses market size is expected to reach USD 27.72 billion by 2026 according to a new study by Polaris Market Research. The report “Sunglasses Market Share, Size, Trends, Industry Analysis Report By Product (Polarized, Non-Polarized), By Material (CR-39, Polycarbonate, Polyurethane, Others), By Channel (Online, Offline), By Regions, Segments & Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Demand for sunglasses has led to the need for reduced dependency on spectacles and uptake of contact lenses. Therefore, growing awareness among the general population regarding the importance of protecting the eyes is the key driving force for the market. Sunglasses exhibit the highest growth rate, which is a direct result of burgeoning prices, especially in the high-end segment of the market. The expected increase in the demand of sunglasses for health, lifestyle, and cosmetic purposes is also expected to drive the market.

Companies such as Luxottica Group S.p.A., Prada SPA, Safilo Group S.p.A, Fielmann AG, De Rigo SpA, Kering SA, Capri Holdings, LVMH, Marcolin S.p.A, and Maui Jim are some of the key players operating in the market.

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The average selling price of sunglasses is expected to be highest in the Europe, which is expected to drive the revenue in this market. Due to the dominant presence of major players of the market in Europe, there exists higher brand awareness and thus higher demand for the high-end sunglasses sector. This can be attributed to increasing awareness regarding eye healthcare and a trendsetting consumer base backed by abundant disposable incomes.

Increasing purchasing power backed by rising disposable incomes among the consumers across various regional markets is expected to drive the demand for sunglasses across the global market. Growing income level and households in the middle class have led to increased aggregate disposable income in developing regions.

Additionally, the proliferation of the internet and online retailing services is expected to positively impact the market. The Japanese market is characterized by growing demand for online purchase of sunglasses. However, growth in internet retailing has resulted in low product prices and thus has adversely affected the revenue streams. Growing purchase volumes of sunglasses are expected to curb the impact of this trend over the next seven years. High scope for penetration in this sector is expected to be an opportunity for industry participants.

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Independent retailers and stores are businesses under private ownerships. These are usually single-store operations and offer both high risks and high rewards for the store owner. Major sunglasses vendors and brands give away franchising rights to individuals or enterprises willing to open up independent stores for a specific brand, retailer, or vendor for a certain royalty or franchise fee to be given to the sunglasses manufacturer.

Manufacturers have also made available prescription eyewear and sunglasses across several regions to grow their customer base. However, there lies a strong belief among consumers that sunglasses sold at certain drugstores are not customized and not in accordance with the prescription, due to which they do not focus the images but rather make them appear larger, thus costing significantly lesser.

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