Key Market Indicators
In a significant downturn for the market, Japanese imports of prescription glasses plummeted to approximately $291,000 in 2023. This marks a sharp 34% decrease from the previous year's figure of around $441,000. The decline in demand for prescription glasses in Japan has been a long-term trend. Since 1993, the demand has fallen by nearly 23% annually, reflecting a consistent downward trajectory. Similarly, the supply side has not fared any better. Over the same period, the supply of prescription glasses in Japan has dropped by over 27% year on year, indicating a substantial contraction in both the market demand and supply chains.