Global photochromic lens market is
projected to reach $ 7.7 billion by 2024 from around $ 4.8 billion in 2018,
exhibiting a CAGR of 8.3% during forecast period, owing to rising levels of
ultraviolet radiations in atmosphere which can lead to eye disease.
Photochromic lenses are the eye lenses that when exposed to ultraviolet
radiations in sunlight, darken automatically. They return to lighten shade when
no longer exposed to ultraviolet radiations. Declining prices, rising geriatric
population along with growing popularity of these lenses are anticipated to significantly
contribute to the growth of global photochromic lens market during forecast
period. Based on application, global photochromic lens market is bifurcated
into preventive and corrective. There are no preventive type of photochromic
lenses in the market.
On the basis of technology, the
market is categorized into in-mass and imbibing & trans bonding. Among all,
in-mass segment dominated global photochromic lens market in 2018. However, the
imbibing & trans bonding category is poised to grow at a higher rate during
forecast period. Geographically, the market for photochromic lens is segmented
into Asia-Pacific, North America, South America, Europe, and Middle East &
Africa. Owing to rising technological advancements and increasing awareness
about eye care, North America dominates global photochromic lens market.
However, Middle East & Africa region is likely to witness swift growth in
demand for photochromic lens owing to increasing disposable income and rising
awareness in the developing economies, such as South Africa, Nigeria, UAE, etc.
Global photochromic lens market is
consolidated, as the key multinational players occupy the major industry share.
Production capacity expansion, brand portfolio expansion, mergers,
collaborations, and acquisitions are the key strategies adopted by these key
players. Some of the major players operating in global photochromic lens market
are Carl Zeiss Meditec AG, Corning Incorporated, Essilor International S.A.,
Hoya Corporation, Vision Service Plan, Transitions Optical Limited, among
others.
Years
considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective
of the Study:
- To analyze and forecast the
market size of global photochromic lens market.
- To classify and forecast global
photochromic lens market based on material,
technology, application, distribution channel and regional
distribution.
- To identify drivers and
challenges for global photochromic lens market.
- To examine competitive
developments such as expansions, new product launches, mergers &
acquisitions etc., in global photochromic lens market.
- To conduct pricing analysis
for global photochromic lens market.
- To identify and analyze the
profile of leading players involved in global photochromic lens market.
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Some of the leading players
in global photochromic lens market are Carl Zeiss Meditec AG, Corning
Incorporated, Essilor International S.A., Hoya Corporation, Vision Service
Plan, Transitions Optical Limited, Optiswiss AG, Tokai Optical Co., Ltd., Seiko
Optical Products Co., Ltd., Vision Dynamics LLC. etc.
TechSci Research performed both primary
as well as exhaustive secondary research for this study. Initially, TechSci
Research sourced a list of manufacturers across the globe. Subsequently,
TechSci Research conducted primary research surveys with the identified
companies. While interviewing, the respondents were also enquired about their
competitors. Through this technique, TechSci Research could include the
manufacturers which could not be identified due to the limitations of secondary
research. TechSci Research analysed the service offerings, distribution
channels and presence of all major manufacturers across the globe.
TechSci
Research calculated the market size of global photochromic lens market using a bottom-up approach, wherein data for various application
across various end-user segments was recorded and forecast for the future
years. TechSci Research sourced these values from the industry experts and
company representatives and externally validated through analyzing historical
data of these product types and applications for getting an appropriate,
overall market size. Various secondary sources such as company websites, news
articles, press releases, company annual reports, investor presentations and
financial reports were also studied by TechSci Research.
Key Target
Audience:
- Global photochromic lens manufacturers,
suppliers and stakeholders
- Potential Investors
- Organizations, forums and
alliances related to photochromic lens market
- Government
bodies such as regulating authorities and policy makers
- Research organizations and
consulting companies
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders such as manufacturers
and partners, end users, etc. besides allowing them in strategizing investments
and capitalizing on market opportunities.
Report Scope:
In this report, global photochromic lens
market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
o
Glass
o
Polycarbonate
o
Plastic
o
In-Mass
o
Imbibing
& Trans bonding
o
Corrective
o
Preventive
- Market, By Distribution Channel
o
Online
Retail
o
Optical
Chains
o
Independent
Eye Care Professionals
- Market, By Region
- Asia-Pacific
- China
- India
- Singapore
- Australia
- New Zealand
- Rest of APAC
- Europe
- France
- Germany
- United
Kingdom
- Italy
- Spain
- Rest of
Europe
- North America
- United States
- Mexico
- Canada
- Rest of
North America
- South America
- Brazil
- Argentina
- Venezuela
- Rest of
South America
- Middle East and Africa
- South
Africa
- Saudi
Arabia
- Iran
- Nigeria
§ Rest of Middle East & Africa
Competitive
Landscape
Company
Profiles: Detailed analysis
of the major companies present in global photochromic lens market.
Available
Customizations
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
Profit
Margin Analysis
- Profit margin analysis in case of direct and indirect sales
channel.
In case you don’t find what
you are looking for, please get in touch with our custom research team at sales@techsciresearch.com