Introduction to Optical Lens Material
Optical lens are the components that are used for focusing and diverging light. The materials used for producing these lenses is termed as an optical lens material. There are numerous materials available depending upon the application and end use. Initially, glass was used as the material for optical lens but now different composites and plastics are brought into use. The material is selected depending upon the certain parameters for instance refractive index, ABBE, specific gravity, reflectance and light transmittance. The research and development have made it possible to widen the scope of lens usage for instance, the photochromic lens material that darkens when in light and exposed to UV radiations and trivex lens material which provides optical quality, is light weight, provides strength and protection.
Market Size and Forecast
The global optical lens material market is anticipated to record a CAGR of around 8% over the forecast period i.e. 2019-2027 owing to growing demand for lens and optics. The rise in usage of electronic gadgets for instance mobiles, laptops, desktops are anticipated to increase the market growth. With the advent of industrialization and urbanization, the use of electronics is anticipated to expand owing to which the increase in eye defects and disorders are anticipated. The increase in the geriatric population coupled with increase in awareness of people regarding the use of better-quality lens and the materials used in production of lens are anticipated to boost the market growth. The wide range of application for instance microscope, contact lens, binoculars, cameras and telescope coupled with availability of variety in lens for instance plastic lens, glass lens, lens of different shapes and sizes, lens with different material property is anticipated to increase the market growth. The expanding tourism sector has resulted in increased sales of cameras which is anticipated to increase the material consumption pertaining to lens.
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The market is segmented by lens type, material type, application type, type and design type. The lens type is further segmented into soft lens and gas permeable lens, out of which, the gas permeable lens segment is anticipated to have leading shares on the back of increased usage of scleral lens. These are used to treat the problems for instance light sensitivity and pain in case of injured eye or eye disorders such as dry eye syndrome, corneal ectasia and anesthetic corneas. On the basis of material type, the market is segmented into silicone hydrogel, flourosilicone acrylate, hydrogel and PMMA, out of which the silicone hydrogel is anticipated to witness largest market growth on the back of the ability of these lens to pass more oxygen through cornea as compared to regular soft lens. The spherical lens design is anticipated to have largest market share owing to their use in both myopia and presbyopia eye conditions.
Growth Drivers
The technical advancements for instance, See Series developed by Nikon are anticipated to increase the market growth. The See Series lens are custom made lens that have double side aspheric design with advanced features to fit the requirement of the wearer. The application of thiourethane in the lens technology as in case of MRTM has made it possible to produce thin, light weight, high impact resistant, durable and safe eyeglass lenses. The production of smart glasses that are made up of glycerin has made it possible to change the curvature by changing the membranes mechanically. Additionally, these glasses have smartphone app so that the lenses are calibrated via Bluetooth in accordance to the wearer’s eyeglass prescription data. The wide range of applications and various types of lens available has increased the lens usage made of different materials. The possibility of using and disposing lens daily and their regular replacement is anticipated to drive the market growth.
Restraints
The increase in the number of optical surgeries that could treat the vision problems coupled with risks associated with the use of lens for instance, corneal ulcers, eye infections and sometimes blindness are anticipated to hinder the growth of optical lens material market. Additionally, the limitations of lens material for instance, no UV protection by AC lens even though they are cheap, the glass lens have excellent optical property but are highly are anticipated to hinder the market growth.
Market Segmentation
Our-in depth analysis of the global optical lens materials market includes the following segments:
By Lens Type
- Soft Lens
- Gas Permeable Lens
By Material Type
- Silicone Hydrogel
- Flouro-Silicone Acrylate
- Hydrogel
- PMMA
By Type
- Optical Glass Lens
- Resin Lens
By Application
- Mobile Phones
- Cameras
- Instruments
- Automotives (HUD included)
By Design
- Spherical
- Toric
- Multifocal
By Region
On the basis of regional analysis, the global optical lens material market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
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 projected to have significant growth during the forecast period on the back of availability of high product range and acceptance by the people. Additionally, the ability of people to afford the high brand lenses and convenience to use them is anticipated to increase the market growth. 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 the consumption of lens. Additionally, increase in urbanization and industrialization in the region has resulted in changing lifestyle of population with people adopting lens according to their lifestyle and preferences. The increase in number of lens manufactures is anticipated to increase the market growth.
The global optical lens material market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Top Featured Companies Dominating the Market
- Johnson and Johnson
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Menicon Co. Ltd.
- OPRI Inc.
- PPG Opticals
- X-Cel Optical Company
- HOYA Corporation
- Essilor International SA
- ISP Optics Corporation
- Optimax Systems Inc.
