Pune, India, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The scleral lens market size was USD 208.4 million in 2020 and market is projected to reach USD 646.8 million in 2028 at a CAGR of 15.2% during the 2021-2028 period. Factors such as widening applications & rising awareness among consumers will increase the footprint of the market during the forecast period.
This vital information is presented by Fortune Business Insights™, in its report, titled, “Scleral Lens Market, 2021-2028.”
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Industry Development
- October 2021: Bausch Health Companies Inc. launched its new 28 Lens Zenlens Dx Set for meeting the demands arising from gas permeable lenses regarding corrective vision disorders often associated with corneal irregularities.
Key Takeaways:
- Growing prevalence of ocular disorders will boost the market growth.
- Increasing technological advancements in the are anticipated to contribute to global market growth during the forecast period.
- increasing demand for Scleral lens drive the market growth in the forecast period.
- The growing population of contact lens users is expected to drive the demand for scleral lenses market.
- The market size in North America stood at USD 85.7 million in 2020.
Discover the Leading Players Featured in the Report:
“Companies leading the global Scleral lens market are Bausch Health Companies Inc. (Canada), Essilor (France), ABB Optical Group (U.S.), Blanchard Lab (U.S.), Art Optical Contact Lens, Inc. (U.S.), Visionary Optics (U.S.), BostonSight (U.S.), TruForm Optics Inc. (U.S.), SynergEyes (U.S.), AccuLens (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 15.2% |
| 2028 Value Projection | USD 646.8 Million |
| Base Year | 2020 |
| Market Size in 2021 | USD 240.2 Million |
| Historical Data | 2017 to 2019 |
| No. of Pages | 114 |
| Segments covered | By Type, By End-user, By Geography |
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Segments
By type, the market can be segmented into mini and large.
Based on end-user, the market can be divided into hospital, eye clinic, and others.
In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
By Type
- Mini
- Large
By End User
- Hospital
- Eye Clinic
- Others
By Geography
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Russia, and the Rest of Europe)
- Asia Pacific (China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- The Middle East & Africa (Turkey, Saudi Arabia, UAE, and Rest of the Middle East & Africa)
Drivers & Restraints
Increasing Technological Advancements to Augment Market Growth During Forecast
Factors such as increasing consumer awareness regarding benefits attributed from scleral lens and an increasing number of favorable reimbursement policies will increase the footprint of the scleral lens market growth during the forecast period. Technological advancements and an increasing number of product launches will boost market growth. Additionally, widening applications and a rising number of ocular disorders will fuel the growth of the market.
However, an increasing number of alternative treatment solutions will hinder the growth of the market during the forecast period to a certain extent.
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Regional Insights
Asia Pacific to Register Highest CAGR Growth Due to Rising Ocular Disorders
The Asia Pacific will hold the largest CAGR growth during the forecast due to the rising patient pool regarding post-LASIK and radial keratotomy procedures along with the increasing potential of patients shifting towards advanced eye care solutions.
North America will witness considerable scleral lens market share owing to the expansion of product portfolio by prominent players and rising patient pool for scleral lens. Additionally, increasing occurrences of ocular disorders in the region and rising collaborative effort among key players to improve market growth in the region.
Latin America & the Middle East & Africa are expected to occupy moderate growth due to rising awareness about scleral lens and ongoing developments in the healthcare sector. Additionally, initiatives undertaken by government bodies will fuel the growth of the market at an accelerated pace.
Competitive Landscape
Essilor, Bausch Health Companies Inc., and ABB Optical Group to Lead Market Gains due to Product Development
The sector is extremely fragmented with Essilor, Bausch Health Companies Inc., and ABB Optical Group occupying more than 55% of the total market share in 2020. Prominent players are focused on strategic collaborations and introducing novel products to gain a competitive edge over others. For example, in July 2019, Visionary Optics introduced their Latitude scleral lens. These are custom fit scleral and corneal surfaces which are derived from the scleral topography measurements. These product launches have integrated the company towards expanding its portfolio. Players such as Blanchard Lab, Art Optical Contact Lens, Inc., Visionary Optics, and BostonSight, among others are focused on increasing investments in R&D to maintain their current market status.
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FAQ’s
What is the market for Scleral Lens?
The Scleral lens market size was valued at USD 208.4 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.2% during the forecast period.
How big is the Scleral Lens Market?
The global scleral lens market size is expected to reach USD 646.8 million in 2028.
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