Authored By: Sarah
09 Aug 2022

Ophthalmic Lens Market 2021-2025: Increasing prevalence of refractive errors to Drive Growth

The ophthalmic lens market size will post an incremental growth of USD 11.80 billion, progressing at a CAGR of  4.38% during the forecast period. The increasing prevalence of refractive errors is notably driving the ophthalmic lens market growth, although factors such as the high cost of ophthalmic lenses may impede the market growth.

The ophthalmic lens market research report by Technavio provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. View the Free Sample Report

Ophthalmic Lens Market 2021-2025: Increasing prevalence of refractive errors to Drive Growth

Ophthalmic Lens Market: Market Segments and Growth Forecasts

The research report will provide insights into the current market share of each segment along with growth projections for the next five years.

  • The ophthalmic lens market is segmented by Products (Spectacle lens, Contact lens, and IOLs) and Geography (North America, Europe, Asia, and ROW).
  • Based on the product segmentation, the ophthalmic lens market share in the spectacle lens segment will be significant during the forecast period.
  • By geography, 37% of the ophthalmic lens market growth will originate from North America during the forecast period. The US is the key market for the ophthalmic lens market in North America. Market growth in this region will be slower than the growth of the market in other regions.
  • The rise in disposable income will facilitate the ophthalmic lens market share in North America over the forecast period. 

Ophthalmic Lens Market: Top Trends, Drivers, Challenges to drive Market Recovery

The report helps market players to discover the various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will provide clients with all the information they would require for designing a growth strategy for their business.

  • A key market driver for the ophthalmic lens market will be the increasing prevalence of refractive errors.
  • Increasing adoption of daily disposable contact lenses is one of the major ophthalmic lens market trends impacting the ophthalmic lens market growth.
  • The high cost of ophthalmic lenses is a challenge that needs to be overcome to persist on the path to growth and recovery from the impact of the pandemic.

Ophthalmic Lens Market: Vendor Analysis

  • The market is fragmented.
  • The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
  • Bausch Health Companies Inc., Carl Zeiss AG, EssilorLuxottica, HOYA Corp., Johnson and Johnson Inc., Nikon Corp., Novartis AG, Rodenstock GmBH, Seiko Holdings Corp., and The Cooper Companies Inc. are some of the major ophthalmic lens market vendors.

Download the Free Sample Report. Our custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D and impact analysis of government regulations.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerating at a CAGR of 4.38%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow up to USD 11.80 billion.

     
  3. What is a key factor driving this market?
    The increasing prevalence of refractive errors will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    North America, Europe, Asia, and ROW are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market?
    37% growth will originate from North America.

     
  6. Who are the leading market vendors?
    The leading vendors in this market are Bausch Health Companies Inc., Carl Zeiss AG, EssilorLuxottica, HOYA Corp., Johnson and Johnson Inc., Nikon Corp., Novartis AG, Rodenstock GmBH, Seiko Holdings Corp., and The Cooper Companies Inc.

     
  7. What are the market segments covered in this report?
    The market is segmented by Product (Spectacle lens, Contact lens, and IOLs) and Geography (North America, Europe, Asia, and ROW).
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