About Spectacle and Optical Lenses
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. 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 |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.5% |
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. Analyst at AMA Research estimates that European Players will contribute the maximum growth to Global Spectacle and Optical Lenses market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Conant Optics Co., Ltd (China), Chemilens (South Korea) and MingYue (China).
Segmentation Overview
AMA Research has segmented the market of Global Spectacle and Optical Lenses market by Type (Single Vision, Bifocals, Lenticular, Aspheric and Multifocals/Progressives), Application (Prescription Glass and OTC Reading Glass) and Region.
On the basis of geography, the market of Spectacle and Optical Lenses has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Coating , the sub-segment i.e. Anti-Reflective will boost the Spectacle and Optical Lenses market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Lens Material, the sub-segment i.e. Glass will boost the Spectacle and Optical Lenses market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Lens Shape, the sub-segment i.e. Rectangle will boost the Spectacle and Optical Lenses market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
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
Market Leaders and their expansionary development strategies
In July 2023, eyewear giant EssilorLuxottica finalized its acquisition of GrandVision, a leading optical retail chain. This move further strengthens EssilorLuxottica's position in the spectacle lens market and expands its retail reach.
In September 2023, Essilor launched Stellest, a new spectacle lens designed to slow down the progression of myopia (nearsightedness) in children. Stellest uses a unique optical design to control peripheral vision and is backed by clinical research demonstrating its effectiveness.
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 lense 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).
Key Target Audience
Manufacturers of Spectacle Lens, Suppliers of Spectacle Lens, Wholesalers, Distributors and Retailers of Spectacle Lens, End-User, Potential Investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.