Ophthalmic Lens Market to record USD 11.80 Bn growth -- North America to occupy 37% market share

NEW YORK, Aug. 18, 2022 /PRNewswire/ -- The "Ophthalmic Lens Market by Product and Geography - Forecast and Analysis 2021-2025" report by Technavio expects the market size to grow by USD 11.80 billion between 2020 and 2025. The market witnessed a YOY growth of 4.03% in 2021 and the growth momentum is expected to accelerate at a CAGR of 4.38% during the forecast period. The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies. Download Sample PDF Report

The global ophthalmic lens market is fragmented due to the presence of many regional and international players. The vendors operating in the market are focusing on differentiating themselves from other competitors based on a wide variety of offerings, quality, price points, and attractive discount offers. Vendors follow some criticality of input to compete in the market. The major inputs are the brand value and the technology used by them. They are also investing heavily in advanced technologies to build their brand image and enjoy the trust of consumers by providing a better online shopping experience. In addition, the factors of differentiation, such as price, quality, and innovation, are expected to rise among vendors during the forecast period.

The increasing prevalence of refractive errors has been instrumental in driving the growth of the market. However, the high cost of ophthalmic lenses might reduce the growth opportunity for vendors. Competitors must focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also must leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Technavio identifies 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. as dominant vendors.

The global ophthalmic lens market is segmented as below:

  • Product
    • Spectacle Lens
    • Contact Lens
    • IOLs

The spectacle lens segment generated the maximum revenue in the market in 2021. The segment growth is mainly driven by the increasing sales of plastic spectacle lenses. The advantages associated with plastic spectacle lenses, such as lightweight, break resistance, and superior protection against flying sparks is contributing to the growth of the segment.

  • Geography
    • North America
    • Europe
    • Asia
    • ROW

37% of the global market share will originate from North America during the forecast period. The US is the largest revenue contributor in this region, followed by Canada. The growth of the regional market can be attributed to factors such as the increasing prevalence of refractive errors, the growing aging population, increasing healthcare expenditure, the high demand for advanced ophthalmic lenses, advanced healthcare infrastructure, and the strong market presence of leading vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Request Sample Report Here

Ophthalmic Lens Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist ophthalmic lens market growth during the next five years
  • Estimation of the ophthalmic lens market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the ophthalmic lens market
  • Analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of ophthalmic lens market vendors

Related Reports:

Ophthalmic Lens Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 4.38%

Market growth 2021-2025

USD 11.80 billion

Market structure

Fragmented

YoY growth (%)

4.03

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 37%

Key consumer countries

US, China, Germany, India, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

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.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Healthcare equipment market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
  • 3.4 Market outlook: Forecast for 2020 - 2025
    • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
    • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 08: Five forces analysis 2020 & 2025
  • 4.2 Bargaining power of buyers
    • Exhibit 09: Bargaining power of buyers
  • 4.3 Bargaining power of suppliers
    • Exhibit 10: Bargaining power of suppliers
  • 4.4 Threat of new entrants
    • Exhibit 11: Threat of new entrants
  • 4.5 Threat of substitutes
    • Exhibit 12: Threat of substitutes
  • 4.6 Threat of rivalry
    • Exhibit 13: Threat of rivalry
  • 4.7 Market condition
    • Exhibit 14: Market condition - Five forces 2020

5 Market Segmentation by Product

  • 5.1 Market segments
    • Exhibit 15: Product - Market share 2020-2025 (%)
  • 5.2 Comparison by Product
    • Exhibit 16: Comparison by Product
  • 5.3 Spectacle lens - Market size and forecast 2020-2025
    • Exhibit 17: Spectacle lens - Market size and forecast 2020-2025 ($ billion)
    • Exhibit 18: Spectacle lens - Year-over-year growth 2020-2025 (%)
  • 5.4 Contact lens - Market size and forecast 2020-2025
    • Exhibit 19: Contact lens - Market size and forecast 2020-2025 ($ billion)
    • Exhibit 20: Contact lens - Year-over-year growth 2020-2025 (%)
  • 5.5 IOLs - Market size and forecast 2020-2025
    • Exhibit 21: IOLs - Market size and forecast 2020-2025 ($ billion)
    • Exhibit 22: IOLs - Year-over-year growth 2020-2025 (%)
  • 5.6 Market opportunity by Product
    • Exhibit 23: Market opportunity by Product

6 Customer landscape

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 25: Market share by geography 2020-2025 (%)
  • 7.2 Geographic comparison
    • Exhibit 26: Geographic comparison
  • 7.3 North America - Market size and forecast 2020-2025
    • Exhibit 27: North America - Market size and forecast 2020-2025 ($ billion)
    • Exhibit 28: North America - Year-over-year growth 2020-2025 (%)
  • 7.4 Europe - Market size and forecast 2020-2025
    • Exhibit 29: Europe - Market size and forecast 2020-2025 ($ billion)
    • Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
  • 7.5 Asia - Market size and forecast 2020-2025
    • Exhibit 31: Asia - Market size and forecast 2020-2025 ($ billion)
    • Exhibit 32: Asia - Year-over-year growth 2020-2025 (%)
  • 7.6 ROW - Market size and forecast 2020-2025
    • Exhibit 33: ROW - Market size and forecast 2020-2025 ($ billion)
    • Exhibit 34: ROW - Year-over-year growth 2020-2025 (%)
  • 7.7 Key leading countries
    • Exhibit 35: Key leading countries
  • 7.8 Market opportunity by geography
    • Exhibit 36: Market opportunity by geography ($ billion)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
    • Exhibit 37: Impact of drivers and challenges
  • 8.3 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 38: Vendor landscape
  • 9.3 Landscape disruption
    • Exhibit 39: Landscape disruption
    • Exhibit 40: Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 41: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 42: Market positioning of vendors
  • 10.3 Bausch Health Companies Inc.
  • 10.4 Carl Zeiss AG
    • Exhibit 47: Carl Zeiss AG - Overview
    • Exhibit 48: Carl Zeiss AG - Business segments
    • Exhibit 49: Carl Zeiss AG - Key news
    • Exhibit 50: Carl Zeiss AG - Key offerings
    • Exhibit 51: Carl Zeiss AG - Segment focus
  • 10.5 EssilorLuxottica
    • Exhibit 52: EssilorLuxottica - Overview
    • Exhibit 53: EssilorLuxottica - Business segments
    • Exhibit 54: EssilorLuxottica - Key offerings
    • Exhibit 55: EssilorLuxottica - Segment focus
  • 10.6 HOYA Corp.
    • Exhibit 56: HOYA Corp. - Overview
    • Exhibit 57: HOYA Corp. - Business segments
    • Exhibit 58: HOYA Corp. - Key offerings
    • Exhibit 59: HOYA Corp. - Segment focus
  • 10.7 Johnson and Johnson Inc.
    • Exhibit 60: Johnson and Johnson Inc. - Overview
    • Exhibit 61: Johnson and Johnson Inc. - Business segments
    • Exhibit 62: Johnson and Johnson Inc. - Key news
    • Exhibit 63: Johnson and Johnson Inc. - Key offerings
    • Exhibit 64: Johnson and Johnson Inc. - Segment focus
  • 10.8 Nikon Corp.
    • Exhibit 65: Nikon Corp. - Overview
    • Exhibit 66: Nikon Corp. - Business segments
    • Exhibit 67: Nikon Corp. - Key news
    • Exhibit 68: Nikon Corp. - Key offerings
    • Exhibit 69: Nikon Corp. - Segment focus
  • 10.9 Novartis AG
    • Exhibit 70: Novartis AG - Overview
    • Exhibit 71: Novartis AG - Business segments
    • Exhibit 72: Novartis AG - Key news
    • Exhibit 73: Novartis AG - Key offerings
    • Exhibit 74: Novartis AG - Segment focus
  • 10.10 Rodenstock GmBH
    • Exhibit 75: Rodenstock GmBH - Overview
    • Exhibit 76: Rodenstock GmBH - Product and service
    • Exhibit 77: Rodenstock GmBH - Key offerings
  • 10.11 Seiko Holdings Corp.
    • Exhibit 78: Seiko Holdings Corp. - Overview
    • Exhibit 79: Seiko Holdings Corp. - Business segments
    • Exhibit 80: Seiko Holdings Corp. - Key offerings
    • Exhibit 81: Seiko Holdings Corp. - Segment focus
  • 10.12 The Cooper Companies Inc.
    • Exhibit 82: The Cooper Companies Inc. - Overview
    • Exhibit 83: The Cooper Companies Inc. - Business segments
    • Exhibit 84: The Cooper Companies Inc. - Key offerings
    • Exhibit 85: The Cooper Companies Inc. - Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Currency conversion rates for US$
    • Exhibit 86: Currency conversion rates for US$
  • 11.3 Research methodology
    • Exhibit 87: Research Methodology
    • Exhibit 88: Validation techniques employed for market sizing
    • Exhibit 89: Information sources
  • 11.4 List of abbreviations
    • Exhibit 90: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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