Ophthalmic Lens Market

Introduction of the Ophthalmic Lens Market Report

An ophthalmic lens is a lens for correcting vision in a person with visual impairment where the focal point of the eyes does not hit the retina. Lenses can also be used to solve problems like astigmatism. It is made up of polycarbonate, minerals, high index lenses and organic. With the rising cases of vision impairment, the demand for the ophthalmic lens has raised.

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Ophthalmic Lens Market Key Drivers

Rising cases of vision impairment across the globe due to the changes in lifestyle and environment has led to the expansion of the market. According to a report published by WHO in 2019, the number of people with eye related cases is anticipated to increase 1.3 times between 2020 and 2030 from 76 million patients to 95.4 million patients globally, which will substantially push the market. Furthermore, ageing population is another factor which is anticipated to drive the demand for the ophthalmic lens over the period. By the end of 2030, the geriatric population is expected to reach 1.4 billion from 962 million in 2017. These population changes will lead to a considerable increase in the people with major eye conditions that can cause vision impairment.

With the rising awareness of vision impairment conditions, the demand for the ophthalmic lenses is increasing. Low and middle-class economies across the globe like Eastern and Central Sub-Saharan Africa have high prevalence of vision impairment, which is expected to surge the demand for ophthalmic lens for vision correction, leading to the overall growth of the market.

Restraint in the Ophthalmic Lens Market

However, rising demand permanent vision correction is the major factor that is likely to hinder the market’s growth.

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Type – Segment Analysis

Based on the type, single vision lens is expected to grow at a high CAGR in the market. Companies like ZEISS International, are involved in offering Rx single vision lenses, single vision stock lenses among others which has driven the growth of the market. It is most cost-effective type of lens  with no distortions and is widely prescribed by doctors worldwide.

Curves – Segment Analysis

Based on the curves, convex is witnessed to grow at a higher CAGR in the market. It is used to treat various disorders like aphakia, hypermetropia and presbyopia, which has surged the market’s growth. It is used as a corrective lens that has led to the product’s major adoption, leading to substantial growth of the market.

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Regional – Segment Analysis:

Based on the region, North America is expected to grow at a high CAGR in the market. This is due to the strong presence of the strong key players in the market, like ESSILOR OF AMERICA, INC., ZEISS International, VISION EASE among others which have driven the market. Companies like ZEISS International and others generate maximum revenue from America, for instance in 2019 the company generated 1321 million from Americas alone, which shows the region’s high purchasing power, leading to the growth of the market.

Top Market Players

Various notable players operating in the market, include, ESSILOR OF AMERICA, INC, ZEISS International, VISION EASE, Alcon Inc., Bausch Health Companies Inc., EssilorLuxottica, Hoya Corporation, Johnson & Johnson, Nikon Corp., Novartis AG, among others. 

Key Developments:

• • In 2019, Alcon officially announced the launch of AcrySof IQ Vivity, the first and only non-diffractive extended depth of focus intraocular lens in the U.S.

Segments covered in the Report:

The global ophthalmic lens market has been segmented based on type, curves, coatings, distribution channel and regions. Based on type, the market is segmented into single vision lens, multifocal lens, progressive lens, and light protection lens. Based on curves, the market is segmented into concave, convex and cylindrical. Based on coatings, the market is segmented into anti-scratch, UV protective, photochromic, and anti-reflective. Based on distribution channel the market is segmented into optical stores, online stores, independent brand stores and others. 

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Key questions answered in this research report:

• • At what pace is global ophthalmic lens market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in ophthalmic lens market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global ophthalmic lens market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various curves areas of global ophthalmic lens market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Ophthalmic Lens Market by Type

• • Single Vision Lens
  • Multifocal Lens
    • Bifocal Lens
    • Trifocal Lens
  • Progressive Lenses
  • Light Protection Lenses

Global Ophthalmic Lens Market by Curves

• • Concave
  • Convex
  • Cylindrical

Global Ophthalmic Lens Market by Coatings

• • Anti-Scratch
  • UV Protective
  • Photochromic
  • Anti-Reflective

Global Ophthalmic Lens Market by Distribution Channel

• • Optical Stores
  • Online Stores
  • Independent Brand Stores
  • Others

Global Ophthalmic Lens Market by Region

• • North America Ophthalmic Lens Market (Option 1: As a part of the free 25% customization)
    • North America Ophthalmic Lens Market by Type
    • North America Ophthalmic Lens Market by Curves
    • North America Ophthalmic Lens Market by Coatings
    • North America Ophthalmic Lens Market by Distribution Channel
    • US Ophthalmic Lens Market All-Up
    • Canada Ophthalmic Lens Market All-Up
  • Europe Ophthalmic Lens Market (Option 2: As a part of the free 25% customization)
    • Europe Ophthalmic Lens Market by Type
    • Europe Ophthalmic Lens Market by Curves
    • Europe Ophthalmic Lens Market by Coatings
    • Europe Ophthalmic Lens Market by Distribution Channel
    • UK Ophthalmic Lens Market All-Up
    • Germany Ophthalmic Lens Market All-Up
    • France Ophthalmic Lens Market All-Up
    • Spain Ophthalmic Lens Market All-Up
    • Rest of Europe Ophthalmic Lens Market All-Up
  • Asia-Pacific Ophthalmic Lens Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Ophthalmic Lens Market by Type
    • Asia-Pacific Ophthalmic Lens Market by Curves
    • Asia-Pacific Ophthalmic Lens Market by Coatings
    • Asia-Pacific Ophthalmic Lens Market by Distribution Channel
    • China Ophthalmic Lens Market All-Up
    • India Ophthalmic Lens Market All-Up
    • Japan Ophthalmic Lens Market All-Up
    • Rest of APAC Ophthalmic Lens Market All-Up
  • RoW Ophthalmic Lens Market (Option 4: As a part of the free 25% customization)
    • RoW Ophthalmic Lens Market by Type
    • RoW Ophthalmic Lens Market by Curves
    • RoW Ophthalmic Lens Market by Coatings
    • RoW Ophthalmic Lens Market by Distribution Channel
    • Brazil Ophthalmic Lens Market All-Up
    • South Africa Ophthalmic Lens Market All-Up
    • Saudi Arabia Ophthalmic Lens Market All-Up
    • UAE Ophthalmic Lens Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Ophthalmic Lens Market All-Up

Major Players Operating in the Ophthalmic Lens (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ESSILOR OF AMERICA, INC
  • ZEISS International
  • VISION EASE
  • Alcon Inc.
  • Bausch Health Companies Inc.
  • EssilorLuxottica
  • Hoya Corporation
  • Johnson & Johnson
  • Nikon Corp.
  • Novartis AG