Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The "Prescription Lens Market Size, Share & Trends Analysis Report By Type (Single Vision, Bifocal, Trifocal), By Application (Myopia, Astigmatism), By Coating, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global prescription lens market is on a clear trajectory to reach a substantial USD 65.5 billion by 2030, exhibiting a steady Compound Annual Growth Rate (CAGR) of 5.1% from 2023 to 2030, as highlighted in the latest market analysis.
Uncorrected refractive errors stand as a significant contributor to the rising cases of visual impairment. In response, various organizations are diligently working to raise awareness about refractive errors and their corrective solutions. These organizations are also providing services for addressing refractive errors and are driving initiatives to enhance vision care, facilitate early diagnosis, and offer efficient lenses for various vision problems. These collective efforts are expected to propel market growth.
Myopia and astigmatism are the most prevalent refractive errors, prompting market players to develop a variety of prescription lenses with advanced coating options to provide superior treatment. To increase the accessibility of these advanced prescription lenses, companies are investing in online platforms for vision tests. Online vision tests enable early diagnosis of refractive errors, thus influencing the adoption of prescription lenses.
Prescription lenses now come with various coating options to optimize vision in different environments. Anti-reflective coating prescription lenses are favored for their ability to eliminate reflections and reduce contrast. UV coating prescription lenses are gaining popularity due to the rising demand for protection against harmful UV radiation, which can lead to various eye-related disorders.
Market players are actively forming alliances to expand the reach of their products. For example, in April 2022, Carl Zeiss introduced the ZEISS Supreme Prime 15, a wide-angle lens addition to its successful family of supreme prime lenses. Concurrently, non-profit organizations are launching programs aimed at addressing visual impairment caused by refractive errors.
Companies Mentioned
- Essilor
- ZEISS Group
- HOYA
- VISION EASE
- SEIKO OPTICAL PRODUCTS CO., LTD.
- Prive Revaux
- Vision Rx Lab
Highlights from the Prescription Lens Market Report:
- Single Vision Takes the Lead: The single vision type segment captured the largest revenue share in 2022, thanks to its effectiveness in enhancing peripheral vision. The progressive prescription lens segment is expected to exhibit the fastest growth during the forecast period, owing to its versatile functionality and youthful appearance. Workspace progressives are anticipated to grow significantly due to the rising number of professionals exposed to electronic display screens.
- Myopia Dominates Applications: Myopia held the largest revenue share in 2022 based on applications, driven by its increasing prevalence. Presbyopia is set to witness the fastest growth during the forecast period due to the expanding prevalence of the condition and the growing need for prescription lenses to address it.
- Coating Advancements: In the coating category, anti-reflective coating led the market in 2022, offering the advantage of clear imagery by reducing reflections. The Ultraviolet (UV) treatment segment is projected to grow at the swiftest rate over the forecast period, driven by the increasing need to prevent UV-related eye disorders like cataracts and macular degeneration.
- Asia Pacific Shines Bright: Asia Pacific claimed the largest revenue share in 2022 and is poised to register the fastest growth rate during the forecast period. This growth is largely attributed to the rising prevalence of myopia in countries such as China, Japan, Singapore, and Korea, along with the increasing adoption of advanced prescription lenses in the region. North America secured the second-largest revenue share in 2022, driven by ongoing product launches in the U.S. and a well-established distribution network for prescription lenses.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 140 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $43.2 Billion |
| Forecasted Market Value (USD) by 2030 | $65.5 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Prescription Lens Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.2. Market restraint analysis
3.3. Prescription Lens Market Analysis Tools
Chapter 4. Prescription Lens: Type Estimates & Trend Analysis
Chapter 5. Prescription Lens: Application Estimates & Trend Analysis
Chapter 6. Prescription Lens: Coating Estimates & Trend Analysis
Chapter 7. Prescription Lens Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/twsgsu
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