Subject: MRR
Ophthalmic Lens Market Size to Grow by USD 11.80 billion | Increasing Prevalence of Refractive Errors to Drive Growth | Technavio
NEW YORK, Dec. 8, 2021 /PRNewswire/ -- Some of the primary growth drivers for the ophthalmic lens market are the increasing prevalence of refractive errors, technological advances in ophthalmic lenses, and initiatives to create awareness about the benefits and advances in ophthalmic lenses.
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The ophthalmic lens market size is expected to grow by USD 11.80 bn from 2020 to 2025. The growth momentum of the market will accelerate at a CAGR of 4.38%. The market is expected to post a year-over-year growth rate of 4.03%.
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Key Vendor Offerings
The key vendors of the ophthalmic lens market and their offerings are mentioned below:
- Bausch Health Companies Inc. - The company offers ophthalmic lens such as intraocular lenses and others.
- Carl Zeiss AG - The company offers ophthalmic lens named Spectacle Lenses.
- EssilorLuxottica - The company offers ophthalmic lens under the brand name Stellest lens.
- HOYA Corp. - The company offers ophthalmic lens such as Vivinex and more.
- Johnson and Johnson Inc. - The company offers ophthalmic lens under the brand name iLASIK.
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Regional Analysis
- 37% of the growth will originate from North America.
- The US is a key country for the ophthalmic lens market in North America.
- Market growth in this region will be slower than the growth of the market in North America, Europe, Asia, and ROW.
- The increasing prevalence of refractive errors, the growing aging population, increasing healthcare expenditure, and the strong market presence of leading vendors will drive the ophthalmic lens market growth in North America over the forecast period.
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Notes:
- The ophthalmic lens market size is expected to accelerate at a CAGR of 4.38% during the forecast period.
- The ophthalmic lens market is segmented by product (Spectacle lens, Contact lens, and IOLs) and geography (North America, Europe, Asia, and ROW).
- The market is fragmented due to the presence of many vendors holding significant market share.
- The research report offers information on several market vendors, including Bausch Health Companies Inc., Carl Zeiss AG, EssilorLuxottica, HOYA Corp., Johnson and Johnson Inc., Nikon Corp., Novartis AG, Rodenstock GmBH, Seiko Holdings Corp., and The Cooper Companies Inc.
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Ophthalmic Lens Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 4.38% |
Market growth 2021-2025 | USD 11.80 billion |
Market structure | Fragmented |
YoY growth (%) | 4.03 |
Regional analysis | North America, Europe, Asia, and ROW |
Performing market contribution | North America at 37% |
Key consumer countries | US, China, Germany, India, and France |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Bausch Health Companies Inc., Carl Zeiss AG, EssilorLuxottica, HOYA Corp., Johnson and Johnson Inc., Nikon Corp., Novartis AG, Rodenstock GmBH, Seiko Holdings Corp., and The Cooper Companies Inc. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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SOURCE Technavio
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