New York, Nov. 02, 2022 (GLOBE NEWSWIRE) -- The global lensometer market expanded at a CAGR of 3.9% over the last nine years from 2012 to 2021. The market was valued at US$ 262.5 Mn in 2021 and is expected to reach a valuation of US$ 442.8 Mn by 2032, expanding at a CAGR of 4.9% over the 2022-2032 study period.
As per this detailed industry analysis by Persistence Market Research, manual lensometers dominated the global market in 2021 in terms of revenue, accounting for around 61.1% of the total market, and their demand is predicted to expand at a CAGR of 4.4% over the decade.
This device measures the vertex power that helps in verifying the prescription of eyeglasses. Variations are available such as portable lensometers, handheld lensometers, and optical lensometers.
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The rising burden of eye diseases such as vision impairment and blindness, increasing aging population, adoption of lensometry technology, and digitalization, such as the use of telehealth, are factors likely to stimulate the demand for lensometers over the coming years.
Key Takeaways from Market Study
- The U.S. accounted for 88.2% of the North American lensometer market in 2021 owing to the introduction of new treatments and rising investments in the healthcare sector.
- China’s market share of lensometers was 10.6% in 2021. China has a large number of manufacturers of lensometers, which makes it a lucrative market for expansion.
- Japan accounted for 6.9% share of the global lensometer market in 2021.
- Revenue from lensometer sales accounted for 8.2% share of the global ophthalmic diagnostic and monitoring market, which was estimated at around US$ 3.2 Bn in 2021.
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Market Landscape
By introducing new, technologically advanced products, major producers of lensometer products are actively concentrating on expanding their manufacturing capabilities and product portfolios, which has become a modern trend and a strategic plan to preserve their position in the market.
- Topcon Corporation unveiled SOLOS, an autonomous lens analyzer, in March 2022. SOLOS allows for sophisticated, accurate, and effective lens analysis with the push of a button.
- Coburn Technologies unveiled the HLM-1, a new lensometer with Wavefront Analysis Technology developed by Huvitz Co., Ltd., in March 2017.
Similarly, recent developments related to companies manufacturing lensometers have been tracked by Persistence Market Research, which are available in the full report.
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