What is Spectacle Lens?
Spectacle lenses are made of a transparent material with two polished opposing surfaces that can be expected to focus light rays. These lenses are the most common solution for refractive errors in the eye such as myopia, hyperopia, presbyopia, and astigmatism. In order to correct for a refractive error, the eyeglass lens must have the correct lens power and adequate power distribution along the surface of the lens. Various methods have been developed to measure these properties. This article introduces some of these methods and their optical principles. Lenses are the most important part of any pair of glasses that allow you to enjoy the best possible vision. The choice of lenses is mainly influenced by four factors: vision, safety, appearance, and comfort.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Essilor International SA (France), Carl Zeiss Meditec AG (Germany), Alcon (Switzerland), Hoya Corporation (Japan), Rodenstock GMBH (Germany), Bausch+Lomb (United States), Seiko Optical Products Co. Ltd (Japan), CooperVision (United States), GKB Ophthalmics Ltd. (India), Nikon (Japan) and The Norville Group Ltd (United Kingdom) |
The study covers a detailed analysis segmented by key business segments i.e. by type (Single Vision, Bifocals, Lenticular, Aspheric and Multifocals/Progressives) , by application (Prescription Glass and OTC Reading Glass) and major geographies. Research Analyst at AMA predicts that European Vendors will contribute to the maximum growth of Global Spectacle Lens market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Spectacle Lens market report suggests strategies that Vendors can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Vendors, some of them are Essilor International SA (France), Carl Zeiss Meditec AG (Germany), Alcon (Switzerland), Hoya Corporation (Japan), Rodenstock GMBH (Germany), Bausch+Lomb (United States), Seiko Optical Products Co. Ltd (Japan), CooperVision (United States), GKB Ophthalmics Ltd. (India), Nikon (Japan) and The Norville Group Ltd (United Kingdom).
Market Overview:
In November 2022, Mitsui Chemicals, that its specialty coatings division SDC Technologies, Inc., has acquired Coburn Technologies, Inc., a developer, manufacturer, and a distributor of eyeglass lens processing equipment. The acquisition is strategically ideal in terms of expanding product portfolio and enhancing solutions.
Under European Directive 2007/47/EC, optical lenses and spectacle frames are considered Class 1 medical devices and subjected to dozens of lab tests and production specifications to ensure optimal lens quality, frame durability, and product safety. and Like most products intended for the EU market, eyewear must carry the iconic CE marking (as per Medical Devices Directive 93/42/EEC). In order to obtain this marking, manufacturers or their EU Representative Agent (for non-EU businesses) must register their product with the Medicines and Healthcare products Regulatory Agency (MHRA).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Influencing Trend:
Robust Increase in the Distribution Channels and Growing Acceptance of Vision Corrective Alternatives
Market Growth Drivers:
Increasing Disposable Income of the People in Developing Region and Growing Awareness Regarding Side Effects of the Dangers of UV Rays Exposure
Challenges:
Changing Consumer Buying Behavior
Restraints:
Availability of Low-Quality Products in Cheaper Rates and Fluctuations in the Raw Material Prices
Opportunities:
Focus on Developing Antibacterial and Night-Vision Lenses
Key highlights of the Global Spectacle Lens market Study:
CAGR of the market during the forecast period 2022-2028
In-depth information on growth factors that will accelerate the Spectacle Lens market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Spectacle Lens market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Vendors
Comprehensive information about factors that will challenge the growth of Spectacle Lens Vendors
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Spectacle Lens market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Spectacle Lens market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Manufacturers of Spectacle Lens, Suppliers of Spectacle Lens, Wholesalers, Distributors, and Retailers of Spectacle Lens, End-User, Potential Investors and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.