Optics | Innovation on many fronts
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Cedric Rossi | Equity Research Analyst, Luxury & Consumer Goods
The EUR 105bn optical and eyewear industry is driven by technology and demographics. Between 2020 and 2050, the prevalence of presbyopia (age-related eye change) will double to affect over 4.1bn people (40% of the global population) as the population ages. At the same time, myopia prevalence will reach epidemic levels, with half of the world’s population (4.7bn people) affected by 2050 because of indoor lifestyles and prolonged exposure to screens. We see innovation being gradually rebalanced between correction and protection, with lenses designed to slow myopia progression in children or blue-light glasses to block the harmful blue light emitted from electronic devices. In our view, the largest wave of innovation is now in retail transformation, as the digitalization of the customer journey progresses rapidly. This is boosted by the introduction of digital tools such as online eye exams, virtual try-ons and 3D printing, which improve the purchase experience and make offline-online interactions more fluid.
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