Summary:
A new study title “Optical Lenses market size, status and forecast 2027” has been featured on market research future.
Market Overview:
It is estimated that the optical lenses market is exhibited to expand by a CAGR of 7% with a market valuation of USD 6 billion for the forecast of 2017-2023. In developing and emerging economies, visual dysfunction has increased. Patient counts for myopia, hyperopia, astigmatism, presbyopia, and cataracts have increased globally. The vision care market is largely impacted through factors like low-cost eyeglasses, high-product enhancement, and low- side effects. The growing demands have prompted lenses producing firms for inventing sustainable solutions with higher vision correction efficacy.
It is expected that ophthalmologic lenses are being adopted more by younger populations which will also lead to the growth of the optical lenses market. This is because there has been a substantial rise in a photography career, high availability of affordable cameras, high demand for HD videos and images. There has been increasing demand for optical lenses as professions like blogging, video making, and creating other types of content has increased. Also, the camera quality of smartphones has increased which has been assisting in the rising demand for optical lenses. Visual dysfunctions and photography-related professions have increased due to which investments in optical lenses market have improved.
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Key Player
The prominent players in the optical lenses market are- Nikon Corporation (Japan), Schott (Germany), Olympus Corporation Of The Americas (U.S.), Bausch + Lomb (U.S.), Menicon Co. Ltd. (Japan), Cosina Co., Ltd. (Japan), Carl Zeiss Ag (German), Cyberoptics Corporation (U.S.), Meade Instruments (U.S.) and others.
Segments:
The optical lenses market is segmented on the basis of type, application and vertical. By application segment the market includes microscopy, laser processing, imaging and ophthalmic. Optical microscopy in used for viewing micro particles and inspection of blood cells. It can be used to view particles in any form such as solid, liquid and gas. It can be easily integrated with digital camera systems for analysis and data storage. Optical contact lenses are like implants however they don't require surgery and can usually be inserted or removed by the user. They're neither on nor under the skin full time. They're exposed to both air and the body's internal science. Contact lenses sit on the eye, thus can upgrade vision. They're presented to both light and the mechanical development of blinking, so they can gather vitality.
Regional Analysis:
The optical lenses market in North America region is growing due to high adoption of optical lenses in cameras and healthcare instruments to experience better imaging viewing experience. According to the study, the optical lenses market will show rapid growth in Europe region. Asia-Pacific market is estimated to be one of the fastest growing market as it is continuously investing into research and development of optical lenses market and growing oversea business attract more users and is driving optical lenses market in the region. Increasing population, and growing IT landscape is boosting the market in the region. The region is witnessing high adoption of optical lenses in consumer electronics owing to its low pricing. Developing countries such as India and China are adopting optical lenses at large scale owing to increasing eye and ENT disease and the eye-straining work adopted by most of the individuals by viewing mobile and other portable devices for long time is fuelling the market. By vertical segment, healthcare and defense sector is driving the optical lenses market. The region is witnessing high growth in optical lenses market due to growing oversea business and rise in eye contact diseases.
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