Dublin, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The "Aspherical Lens Market by Type (Glass Aspherical lens, Plastic Aspherical lens), Offering (Double Aspherical lens and Single Aspherical lens), Manufacturing Technology (Molding, Polishing & Grinding), Application and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The aspherical lens market is projected to grow from USD 9.0 billion in 2023 to USD 12.2 billion by 2028, registering a CAGR of 6.2%
This research report provides a comprehensive analysis of the aspherical lens market, categorizing it based on components, products, applications, verticals, and regions. The report offers insights into the major drivers, restraints, challenges, and opportunities within the aspherical lens market, with forecasts extending until 2028. Additionally, the report includes leadership mapping and analyses of companies within the aspherical lens ecosystem.
Asia Pacific is anticipated to be the dominant force in the aspherical lens market over the forecast period. Within Asia Pacific, China, Japan, South Korea, and the Rest of Asia Pacific (encompassing Australia, New Zealand, Singapore, and other Southeast Asian nations) have been identified as key regions. Asia Pacific is poised to achieve the highest compound annual growth rate (CAGR) during this forecast period.
The rapid economic growth of countries like China and Japan plays a significant role in propelling the aspherical lens market in this region. In China, the development of city surveillance networks for monitoring large populations, coupled with the increasing adoption of surveillance cameras in small and medium-sized enterprises, is expected to drive the demand for aspherical lens components. Furthermore, the growing need for contact lenses to address vision issues such as myopia and hyperopia is boosting the utilization of aspherical lenses, particularly in ophthalmic applications.
Several key factors are fueling the growth of the aspherical lens market, including heightened demand for aspherical lenses in digital cameras, expanded use in high-end smartphone cameras, and increased application of aspherical lenses in optical instruments and ophthalmic devices.
Nevertheless, the challenges associated with the design and manufacturing processes may pose obstacles to the market in the future. Key growth opportunities for market players lie in the increased demand for medical imaging and the growing utilization of infrared aspherical lenses in security and surveillance cameras.
The report profiles prominent players in the aspherical lens market, including Nikon Corporation, Canon, Inc., Panasonic Holding Corporation, HOYA, Asahi Glass (AGC), Schott, ZEISS International, Tokai Optical, SEIKO Optical Products Co., Ltd., and Calin Technology Co., Ltd., among others.
The market for the plastic aspherical lens to grow at a higher CAGR during forecast period
The plastic aspherical lens type segment of the aspherical lens market is expected to account for the largest market size and highest growth rate during the forecast period.
Plastic aspherical lenses are optical lenses with aspherical surfaces composed of plastic materials. They are increasingly being used in producing camera lenses, eyeglass lenses, and other optical equipment. Plastic aspherical lenses are generally lighter and less expensive than traditional glass aspherical lenses, making them a more accessible option for many consumers.
Ophthalmic application held the largest share of the aspherical lens market in 2023
In terms of market size, the ophthalmic application is expected to dominate the aspherical lens market and will likely witness significant growth during the forecast period. In the ophthalmic segment, such lenses are mainly used in eyeglasses and contact lenses. Aspherical lenses help patients suffering from myopia, hype myopia, and other conditions by increasing the image quality and vision power.
Aspherical eyeglass lenses allow for crisper vision than standard lenses, mostly when looking in other directions than the optical center of the lens. The lenses are also suited to eyeglasses for patients with differing powers in both eyes. Aspherical lenses can also help address astigmatism, nearsightedness, and farsightedness.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 206 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $9 Billion |
| Forecasted Market Value (USD) by 2028 | $12.9 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
Premium Insights
- Increasing Demand from Ophthalmic and Consumer Electronics Applications to Fuel Growth of Aspherical Lens Market
- Glass Segment Held Largest Share of Aspherical Lens Market in 2022
- Ophthalmic Application and China Held Largest Shares of Asia-Pacific Aspherical Lens Market in 2022
- US to Dominate Aspherical Lens Services Market During Forecast Period
Case Study Analysis
- Optipro Systems Helps Optimize Lens Polishing for Kreischer Optics
- Vision Optics Provides Aspherical Lenses for Auto Head-Up Display (Hud) System
Market Dynamics
Drivers
- Increasing Use of Aspherical Lenses in Optical Instruments and Ophthalmic Applications
- Rising Demand for Aspherical Lenses for Use in Digital Cameras
- Increasing Application in High-End Smartphone Cameras
- Growing Adoption in Automotive Sector
Restraints
- High Production Cost
Opportunities
- Growing Use of Infrared Aspherical Lenses in Security and Surveillance Cameras
- Rising Demand for Medical Imaging
Challenges
- Complexity of Design and Manufacturing Processes
Value Chain Analysis
- Ecosystem Analysis
- Trends/Disruptions Impacting Customers/Buyers
- Pricing Analysis
- Average Selling Price (ASP) of Various Aspherical Lenses
Technology Analysis
- Key Trends in Aspherical Lens Market
- Augmented Reality Microscopes and Aspherical Lenses
- Contact Lenses as Drug Delivery Devices
Company Profiles
Key Players
- Nikon Corporation
- Canon Inc.
- Panasonic Holding Corporation
- Hoya Corporation
- Agc Inc.
- Schott
- Zeiss International
- Tokai Optical
- Seiko Optical Products Co. Ltd.
- Calin Technology Co. Ltd.
Other Players
- Largan Precision Co. Ltd.
- Genius Electronic Optical
- Asia Optical Co. Inc.
- Sunny Optical Technology (Group) Company Limited
- Mingyue Optical Lens Co. Ltd.
- Zhejiang Lante Optics Co. Ltd
- Esco Optics, Inc.
- Shanghai Optics
- Lightpath Technologies, Inc
- Hyperion Optics
- Knight Optical
- Dg Optoelectronics
- Sumita Optical Glass Inc.
- Essilor International
- Jenoptik Ag
For more information about this report visit https://www.researchandmarkets.com/r/nx0d4h
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