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Growth of the Global Optical Lens Material Market to be Propelled by Advancements in Technology and Growing Geriatric Population

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According to a recently published report by Research Nester on Optical Lens Material Market Segmentation By Lens Type (Soft Lens and Gas Permeable Lens); By Material Type (Silicone Hydrogel, Flouro-Silicone Acrylate, Hydrogel and PMMA); By Type (Optical Glass Lens and Resin Lens); By Application( Mobile Phones, Camera, Instruments and Automotive (HUD included)); By Design (Spherical, Toric and Multifold) – Global Demand Analysis & Opportunity Outlook 2027delivers detailed overview of the optical lens material market in terms of market segmentation by lens type, by material type, by type, by application, by design type and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

The global optical lens material market is segmented into lens type, material type, type, application type and design type. On the basis of lens type, the market can be further segmented into soft lens and gas permeable lens. On the basis of material type, it can be segmented into silicone hydrogel, flouro-silicone acrylate, hydrogel and PMMA. On the basis of type, the market is categorized into optical glass lens and resin lens. On the basis of application, the market is sub segmented into mobile phones, cameras, instruments and automotive (including HUD). Finally, on the basis of design type, the market is segmented into spherical, toric and multifold.

The global optical lens material market is anticipated to witness a significant CAGR of 8% during the forecast period i.e. 2019-2027 owing to increase in geriatric population and increase in use of electric gadgets and devices. The increased awareness of people about the use of high-quality lenses for eye protection and eye related disorders is anticipated to increase the market growth. The wide range of application and availability of variety in lens are expected to affect the market growth positively. The gas permeable segment coupled with silicone hydrogel material is anticipated to increase the market growth owing to improvement in vision clarity especially in case of astigmatism and presbyopia.

North America is anticipated to witness significant growth owing to presence of numerous manufacturers, eye care specialists, technological advancements, general awareness and government initiatives. The Europe region is also expected to have significant growth during the forecast period on the back of availability of high product range and acceptance by the people. Asia-Pacific is anticipated to witness significant growth in the market owing to presence of geriatric population especially in China and Japan which will lead to increase consumption of lens.

Advancements in lens technology for instance launch of See Series by Nikon, use of thiourethane resins in optical lens production as in case of MRTM and use of smart glasses coupled with the possibility of using and disposing lens daily and their regular replacement is anticipated to drive the market growth. However, increase in surgeries for eye treatment coupled with risks associated with use of lens for instance corneal ulcers, eye infections are expected to operate as key restraints to the growth of optical lens material market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the optical lens materials market which includes company profiling of Johnson and Johnson, Menicon Co. Ltd., OPRI Inc., PPG Opticals, X-Cel Optical Company, HOYA Corporation, Essilor International SA, ISP Optics Corporation and Optimax Systems Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the optical lens material market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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