Photochromic Lenses Market - Global Industry Analysis

Photochromic Lenses Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Healthcare Report Format : PDF Report Code: ZMR-6637 Status : Upcoming

Description

Global Photochromic Lenses Market: Overview

Photochromic lenses are the ones that turn dark when exposed to UV radiation. It avoids the harmful rays of sunlight reaching the human eye. Whereas, it can be easily used indoors too at times when there is no sunlight as it returns to its clear state. The level of tinting on glasses totally depends on the duration of exposure to UV radiation. In other words, the level of tinting is directly proportional to the extent of UV exposure. These glasses are available in several colors including grey, green, and brown. Such lenses are available in bifocal lenses, progressive lenses, and high index lenses. The photochromic lenses are also referred to as variant tinted lenses and light adaptive lenses.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Photochromic Lenses Market: Growth Factors

The ophthalmology market is constantly rising in recent years owing to the fact that there is a significant spike in the aging population globally. A large pool of patients is visiting hospitals for eye diseases. However, such an emerging landscape is likely to significantly steer the growth of the global photochromic lenses market exponentially in the forthcoming years. The surging levels of ultraviolet radiation in the environment are fueling the prevalence of eye disorders globally. Therefore, the market players are launching advanced photochromic lenses with high quality at affordable prices. Companies are increasing their funding to boost the research and development activities in order to launch an innovative variety of lenses with the help of advanced technologies. For instance, the Drivewear photochromic lenses are innovated with the help of nupolar polarization technology. In addition, there is a surge in the adoption rate of photochromic lenses as a part of fashion wear to showcase the unique fashion sense. The increasing pediatric population globally is also benefiting the market. The surging number of children is suffering from acute eyesight disorders which require photochromic lenses in the treatment process, thereby it is also expected to expedite the growth of the global photochromic lenses market over the forecast period.

Global Photochromic Lenses Market: Segmentation

The global photochromic lenses market can be segmented into application, technology, material, and region.

By application, the market can be segmented into preventive and corrective applications. The corrective lens segment accounts for the largest share in the global photochromic lenses market. The corrective lens is widely adopted to improve vision. The corrective lens effectively treats refractive errors. However, the segment is likely to dominate the global photochromic lenses market in the forthcoming years due to the growing adoption of these lenses by individuals who had eye surgeries to treat disorders like cataracts, retinopathy, and degenerative macular. However, it is highly worn by the geriatric population too.

By technology, the market can be segmented into in-mass, imbibing & trans bonding, UV & visible light, and others.

By material, the market can be segmented into plastic, polycarbonate, glass, and others.

Global Photochromic Lenses Market: Regional analysis

North America accounts for the largest share in the global photochromic lenses market due to the growing geriatric population in the region. The high prevalence of eye disorders along with the surge in demand for photochromic lenses to correct the vision is also fuelling the growth of the regional market. The constant innovations in the field of ophthalmology and eye lenses are likely to further drive the growth of the regional market in the forthcoming years. The presence of prominent market leaders in the region and the adoption of aggressive marketing strategies to deeply penetrate the product will further drive the regional market growth. However, the growing competition in the region is likely to lower the cost of such lenses, which in turn will accentuate the adoption rate of these lenses significantly.

Asia Pacific is expected to grow significantly with a high CAGR due to the presence of a strong customer base in the region. The regions with a high population base like India and China are posing huge demand for photochromic lenses. Also, the growing disposable income of the people in the region is opening several lucrative growth opportunities in the regional market. In addition, the growing popularity of these lenses along with constant innovations in the field of medicare will significantly support the growth of the regional market. Also, the market players in the region are adopting inorganic growth opportunities like collaboration and partnerships to expand their product portfolio and improve their position in the market.

Global Photochromic Lenses Market: Competitive Players

Some of the significant players in the global photochromic lenses market are Carl Zeiss Meditec AG, Essilor International S.A., Optical Dynamics and Signet Armorlite, Inc., Vision Dynamics LLC., SEIKO OPTICAL PRODUCTS CO., LTD., Optiswiss AG, Transitions Optical Limited, Vision Service Plan, HOYA Corporation, Corning Incorporated, TOKAI OPTICAL CO., LTD., and Younger Optics, Inc.

Global Photochromic Lenses Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

The ophthalmology market is constantly rising in recent years owing to the fact that there is a significant spike in the aging population globally. A large pool of patients is visiting hospitals for eye diseases. However, such an emerging landscape is likely to significantly steer the growth of the global photochromic lenses market exponentially in the forthcoming years.

Some of the significant players in the global photochromic lenses market are Carl Zeiss Meditec AG, Essilor International S.A., Optical Dynamics and Signet Armorlite, Inc., Vision Dynamics LLC., SEIKO OPTICAL PRODUCTS CO., LTD., Optiswiss AG, Transitions Optical Limited, Vision Service Plan, HOYA Corporation, Corning Incorporated, TOKAI OPTICAL CO., LTD., and Younger Optics, Inc.

North America accounts for the largest share in the global photochromic lenses market due to the growing geriatric population in the region. The high prevalence of eye disorders along with the surge in demand for photochromic lenses to correct the vision is also fuelling the growth of the regional market.

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