The global ophthalmic lens market size is poised to grow by USD 13.15 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of close to 5% during the forecast period. Request Free Sample Pages
Read the 130-page research report with TOC on "Ophthalmic Lens Market Analysis Report by product (spectacle lens, contact lens, and IOLs) and geography (Asia, Europe, North America, and ROW) 2019 - 2023".
The market is driven by technological advances in ophthalmic lenses. Also, the increasing adoption of daily disposable contact lenses is anticipated to further boost the growth of the ophthalmic lens market.
The global ophthalmic lens market is witnessing continuous technological advances in terms of materials, designs, manufacturing methods, and solution formulations. These technological advances help eyeglass lenses and contact lenses in providing sharp image quality, improved contrast sensitivity, superior peripheral vision, and nominal glare at night. Vendors are also introducing customized HD eyeglass lenses called wavefront lenses. Even contact lenses have undergone improvements in terms of materials, lens design, and solution formulations. The adoption of 3D printing technology for manufacturing ophthalmic lenses is another major advancement, as this technology eliminates the multiple steps involved in traditional subtractive manufacturing technology. Thus, with such technological advances, the global ophthalmic lens market is expected to witness growth during the forecast period.
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Major Five Ophthalmic Lens Companies:
Bausch Health offers contact lenses, intraocular lenses and other medical devices; surgical systems and devices; vitamin and mineral supplements; lens care products; prescription eye medications; and other consumer products for the eye health market. Some of the key offerings of the company include Bausch + Lomb ULTRA family, SofLens Daily Disposable, and PureVision2 contact lenses.
Essilor manufactures and customizes a wide range of corrective lenses to meet customer requirements. It provides solutions for various vision disorders, including myopia, hyperopia, astigmatism, and presbyopia. The company’s key offerings in the ophthalmic lens market include VARILUX, Myopilux, and Eyezen.
HOYA Corporation owns and operates businesses in various segments, including life care, information technology (IT), and others. Under its life care segment, the company offers healthcare and medical products such as eyeglass lenses, contact lenses, and IOL. It also manufactures medical endoscopes. The company’s product line in the ophthalmic lens category includes HOYA MultiView, Pleno (Toric), HOYA Hard / EX, HOYA Airy One Month contact lenses, and Eyeglass Lenses.
Johnson & Johnson Services, Inc.
Johnson & Johnson Services, Inc. has businesses in various segments, including consumer, medical devices, and pharmaceutical. The company offers various ophthalmic lenses including TECNIS Multifocal IOLs, TECNIS Symfony Toric IOL, ACUVUE OASYS, and 1-Day ACUVUE MOIST MULTIFOCAL.
Novartis AG’s innovative medicines segment is organized into two global business units: Novartis oncology and Novartis pharmaceuticals. Novartis Pharmaceuticals consists of the global business franchises ophthalmology, neuroscience, immunology and dermatology, respiratory, cardio-metabolic, and established medicines. The company’s key offerings in the ophthalmic lens market include AcrySof IQ Monofocal IOL, AcrySof IQ Toric IOLs, and AIR OPTIX Contact Lenses.
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Ophthalmic Lens Product Outlook (Revenue, USD Million, 2019 - 2023)
- Spectacle lens
- Contact lens
Ophthalmic Lens Regional Outlook (Revenue, USD Million, 2019 - 2023)
- North America
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