About Ophthalmic Lenses
An ophthalmic lens is used for correcting vision in a person with visual impairments where the focal point of the eyes does not hit the retina. Lenses can also be used to address difficulties like astigmatism. The ophthalmic are available in a variety of forms including plastic and glass lenses worn in glasses, contact lenses placed in direct contact with the eye and lens are surgically implanted into the eye to correct visual impairments. Basic ophthalmic lenses is useful for near or farsightedness, where the focus point lies in front of or behind the retina.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 4.96% |
The companies are exploring the market in new regions by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail competitive advantage through combined collaborations. Analyst at AMA Research estimates that German and Chinese Players will contribute the maximum growth to Global Ophthalmic 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.
Visioptimum (France), Ophthalmic Lenses (Canada), Essilor (France), HOYA Corporation (Japan), Novartis AG (Switzerland), Nikon Corporation (Japan), Feixun Optical Co. Ltd. (China), Varesino Optical Laboratory Ophthalmic Lenses (Italy), Carl Zeiss AG (Germany), Rodenstock GmbH (Germany) and Zhenjiang Wanxin Optical Glasses Co. Ltd. (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are GKB Ophthalmics (India) and Seiko Optical Products Co., Ltd. (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Ophthalmic Lenses market by Type (Single-Vision Lens, Multifocal Lenses [Bifocal and Trifocal Lenses], Progressive Lenses and Light Protection Lenses [Tints, Blue Blocking Filters, Polarising Filters and Photochromic Lenses]), Application (Corrective Lens, Sunglasses Lens and Intraocular Cataract Lens) and Region.
On the basis of geography, the market of Ophthalmic 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). North America region held largest market share in the year 2021. If we see Market by Verticals, the sub-segment i.e. Healthcare will boost the Ophthalmic Lenses market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Ophthalmic Lenses Market Dynamics:
Attributes | Details |
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Growth Drivers | - Increase in Use of Digital Devices such as Smartphones and Computers
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Influencing Trends | - Rising Focus on Healthcare among the Growing Middle Class Population
- Increasing adoption of daily disposable contact lenses
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Restraints | - The User feel Uncomfortable with Intense Light and Scleral Indentation
- Reflex Sneezing on Exposure to bright light
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Road Blocks / Challenges | - Unable to correct all Vision Problems
- Requires Extensive Practice in Technique
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Gaps & Opportunities | - Developing Healthcare Infrastructure in Emerging Economies
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Market Leaders and their expansionary development strategies
Oct. 18, 2018: Hoya surgical optics to acquire two ophthalmic medical device companies: Mid Labs and Fritz Ruck. This acquisition will help to broaden HOYA Surgical Optics’ product portfolio and enable HSO to better serve our customers’ broader needs for high quality ophthalmic products, equipment and services.
In February 2021, EssilorLuxottica and CooperCompanies entered an agreement to create a 50/50 joint venture for the acquisition of SightGlass Vision, a US-based life sciences company focused on developing innovative spectacle lenses to reduce the progression of myopia in children. and December 7, 2018: Essilor partners with the royal government of Bhutan in its ambition to become the first country in the world to eradicate poor vision.
Key Target Audience
Manufacturers of Ophthalmic Lenses, Suppliers of Ophthalmic Lenses, Wholesalers, distributers and retailers of Ophthalmic Lenses, Technology Solution Providers, Research Firms and Governmental Bodies
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.