Digital Future Without The Sun

As the interaction with digital interfaces in different ways becomes a widespread phenomenon – it begins to intertwine around humans with touchpoints in progressively more and more ways – from streaming on TVs to laptops, to tablets for kids, to mobile phones for teenagers, to now, even navigation dashboards in our cars. This natural increased immersion into screens though, has consequences, and has started to give culmination to an epidemic called myopia or nearsightedness: being able to see objects clearly closely, but encountering blurriness with distant ones.

As 30% of the global population has already become nearsighted, since there is consequently, less time and space for different stimuli than screens, it has created a lack of exposure to more beneficial stimuli for the eyes as well – sunlight. Lack of sunlight is closely correlated with myopia, and usually develops in childhood and adolescence according to the American Academy of Ophthalmology (AAO). 

The global population is currently at almost 7 hours of screen time per day, while Gen Z is actually averaging around 9 hours. Leading to the clear observation that the younger demographic is reporting an even higher dependence to screen time, on average. Findings from King’s College London, revealed that, “those who had gotten the most sun, were approximately 25% less inclined to develop myopia by middle age, particularly between the ages of 14 and 19.”

If left unchecked, myopia can lead to cataracts or blindness, considering there is no cure, with medication for the increasing disease till now. Surprisingly, even though the problem is created by technological advancement, the solution doesn’t necessarily lie in cutting-edge technology, but instead can be treated with traditional corrective glasses, or contact lenses. 

Accordingly, with the laws of supply and demand in commerce, there are eyecare companies that can benefit significantly from this increased necessity in the market. According to the International Myopia Institute, 50% of the world is expected to become myopic (nearsighted) by 2050, which would equal around 5 billion people. A company in the vision care industry, with the largest market cap of around €77.04B, and owner of brands like Ray-Ban, Oakley, and LensCrafters – Essilor Luxottica (CBOE:EL) could potentially see a lot more sunshine in their earnings in the near future. 

Essilor – part of the CAC 40 component (EURONEXT: FCEU23), 40 largest publicly traded companies in France –  dominates the market for manufacturing and distribution of ophthalmic lenses, frames and sunglasses, operates in over 150 countries, and made more than 7 major acquisitions between 2013 – 2021 in eyewear and lenses. Could Essilor have positioned itself to rise with the wave of ‘humans engaging more with digital,’ and as a result anticipated this increasing repercussion for eyes?