New York, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The global Lensometer Market is expected to witness significant growth at a CAGR of 3.1% during the forecast period of 2023-2030. This growth is attributed to the increasing demand for advanced ophthalmic devices that is driving the growth of the market.
According to a recent report by Consegic Business Intelligence, the lensometer market is poised for strong expansion and is expected to reach USD 366.05 million by 2030. The market, which was valued at USD 288.12 million in 2022, is projected to grow at a compound annual growth rate of 3.1% during the period 2023-2030. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the lensometer market.
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Lensometer is an instrument used to measure the spherical, cylindrical power, and axis of an optical prescription to locate the optical center or measure the reference point and determine the base, direction, and amount of prism present. Manual and automated are the two types of lensometer available in the market. The lensometer helps orient appropriately and mark uncut lenses, verifying the power of single vision, bifocal and trifocal lenses, and checking the right mounting of eye lenses in spectacle frames.
As the rising prevalence of eye diseases is propelling the demand for lensometers, the lensometer market is expected to witness further expansion and technological advancements.
Global Lensometer Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | 366.05 Million |
| CAGR (2023-2030) | 3.1% |
| By Product Type | Manual Lensometer and Automated Lensometer |
| By lens Type | Single-vision Lens, Multifocal Lens, and Others |
| By Application | Power, Optical Center Location, Measure Reference Point Location, Prism Power/Direction, Cylindrical Axis Orientation, and Others |
| By End User | Hospitals, Ophthalmic Clinics, Eyeglass Manufacturers, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | Topcon Corporation, Essilor, Coburn Technologies, Inc., NIDEK CO., LTD., Takagi Seiko Co., Ltd, Reichert, Inc., Visionx, NINGBO FLO OPTICAL CO., LTD., ZEISS Group, and TomeyUSA |
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Global Lensometer Market Segmentation Details:
Based Product Type, the manual lensometer segment accounted for the highest market share in the overall lensometer market. Manual lensometers are the traditional lensometers requiring manual adjustment and measurement. They are typically less expensive compared to automated lensometers and they are commonly used in small optometry practices and clinics. This prominent factor has fueled the demand for manual lensometers.
Based on Lens Type, in 2022, the single-vision lens segment accounted for the highest market share of the lensometer market. Single-vision lenses have a single focal point and are used to correct either nearsightedness (Myopia) or farsightedness (hyperopia). They have consistent prescription power throughout the entire lens. As a result, the growing use of single-vision lenses has increased the demand for the lensometer.
Based on Application, in 2022, the power segment accounted for the highest market share in the overall Lensometer market and is also expected to grow at the fastest CAGR in the market during the forecast period. Lensometers are used for the vertex power verification and prescription of eyeglasses. The power of new glasses is measured with a lensometer to confirm that the prescription is correct.
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Based on End User, 2022, the ophthalmic clinics segment accounted for the highest market share in the overall lensometer market. Lensometer is commonly used by optometrists in ophthalmic clinics. Which, in turn, drives the growth of the segment.
Based on Region, in 2022, North America accounted for the largest share contribution of 36.45% to the market growth driven by the rising geriatric population, rising demand for eyeglasses, increasing eye problems, and increasing eye surgeries in the region. Furthermore, the high number of vision impairment patients are improving the demand for lensometer for the manufacturing of contact lenses and eyeglasses, which in turn, drives the lensometer market in North America.
Competitive Landscape
Topcon Corporation, Essilor, Coburn Technologies, Inc., NIDEK CO., LTD., Takagi Seiko Co., Ltd Corporation are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more efficient, and cost-effective. Further, the lensometer market is expected to grow steadily due to population growth, changing lifestyles, and technological advancements among others. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
Recent Developments
- In March 2022, Topcon Healthcare, a manufacturer of medical devices and software solutions for the global eye care market, announced the launch of SOLOS, an automatic lens analyzer that enables advanced, accurate, and efficient lens analysis at the touch of a button.
Key Market Takeaways
- Based on product type, the manual lensometer segment accounted for the highest market share in the lensometer market statistics in 2022.
- Based on lens type, the single-vision lens segment accounted for the highest market share in the lensometer market statistics in 2022.
- Based on application, the power segment accounted for the highest market share in the lensometer market statistics in 2022.
- Based on end users, ophthalmic clinics segment accounted for the highest market share in the lensometer market statistics in 2022.
- Asia Pacific is expected to grow at the fastest CAGR of 3.8% during the forecast period due to the high prevalence of ocular diseases across the region.
- In 2022, North America accounted for the highest market share of 36.45% and was valued at USD 105.02 million and is expected to reach USD 134.52 million in 2030.
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List of Major Global Lensometer Market:
- Topcon Corporation
- Essilor
- Coburn Technologies, Inc.
- NIDEK CO., LTD.
- Takagi Seiko Co., Ltd
- Reichert, Inc.
- Visionx
- NINGBO FLO OPTICAL CO., LTD.
- ZEISS Group
- TomeyUSA
Global Lensometer Market Segmentation:
- By Product Type
- Manual Lensometer
- Automated Lensometer
- By Lens Type
- Single-vision Lens
- Multifocal Lens
- Others
- By Application
- Power
- Optical center location
- Measure reference point location
- Prism power/direction
- Cylindrical axis orientation
- Others
- By End User
- Hospitals
- Ophthalmic Clinics
- Eyeglass Manufacturers
- Others
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Frequently Asked Questions in the Lensometer Market Report
- What was the market size of lensometer in 2022?
- In 2022, the market size of lensometer was USD 288.12 million.
- What will be the potential market valuation for lensometer by 2030?
- In 2030, the market size of lensometer is expected to reach 366.05 million.
- What is the key restraint hampering the growth of the lensometer market?
- Skilled labor crisis in handling automated lensometers is restraining the growth of the market.
- What is the dominating segment in the lensometer market, by type?
- In 2022, the manual lensometer segment accounted for the highest market share in the overall lensometer market.
- Based on current market trends, which geographical region contributed the largest share in the market?
- North America accounted for the largest market share in the lensometer market.
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