Zion Market Research has published a new report titled “Prescription Lens Market by Type (Single Vision [Convex, Concave, and Cylindrical], Bifocal, Trifocal, Progressive, Workspace Progressives, and Others), by Application (Myopia, Hyperopia/ Hypermetropia, Astigmatism, and Presbyopia), by Coating (Anti-Reflective, Scratch Resistant Coating, Anti-Fog Coating, and Ultraviolet Treatment), and by Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026” According to the report, global demand for prescription lens market was valued at approximately USD 35.39 Billion in 2019, and is expected to generate revenue of around USD 41.81 Billion by end of 2026, growing at a CAGR of around 4.7% between 2020 and 2026.
Cases of vision loss due to refractive errors are on the rise. Most of these cases are previously ignored and add to the increasing number of Uncorrected Refractive Errors (UREs). Patients with URE are unaware of the disorder and receive no medication. Various organizations are being formed to monitor the rise in URE with an emphasis on detecting and treating refractive errors. Sightsavers, an agency that works in various countries, focuses primarily developing nations. To provide advanced and accessible ophthalmic care, the organization forms an alliance with national, regional, local, and also international partners and governments. The organization has developed a refractive error strategy to tackle the URE problem.
The growing prevalence of cases of refractive error, mainly myopia and astigmatism, is expected to boost demand for the prescription lens. Prescription lens helps to overcome the eyes’ failure to focus the light for improved vision on retina. Such lenses are available in different shapes and coatings, and are chosen according to the refractive order. The concave prescription lens is used to correct myopia, convex prescription lens is used to correct hyperopia, and astigmatism is applied to cylindrical prescription lenses. Furthermore, various eye disorders arise in people working in front of screens for hours. Hence, companies are developing advanced technologies to improve the prescription lens that can shield the individual from harmful computer radiation. In addition to integrating new technology and creating improved prescription lenses, the emergence of online vision testing services is also expected to fuel market growth. Visibly, digital eye care technologies are being created to provide eye care. Digital vision training is one of the company’s successful measures toward making vision treatment affordable and convenient. Such online assessments are supposed to assist in the rapid diagnosis of refractive errors, thereby facilitating the use of the prescription lens for treatment.
The global market for the prescription lens is segmented into type, application, coating, and region. Based on the type, the global market for prescription lens is segmented into single vision, workspace progressives, bifocal, progressive, trifocal, and others. The single vision lens is further segmented into convex, concave, and cylindrical. Single vision prescription lens is favored as an effective alternative for reading and computer work, because it helps to preserve the posture at work, thus reducing the risk of developing computer vision syndrome. In addition, a single vision lens helps to improve the peripheral vision, which can be a trifocal, bifocal, and progressive lens issue.
On the basis of application, the market is categorized into astigmatism, myopia, hyperopia/ hypermetropia, and presbyopia. The global prevalence of myopia is high and is projected to increase over the span of forecast. On the basis of coating the market is categorized into anti-reflective (AR), anti-fog coating, scratch resistant coating, and ultraviolet treatment. Due to various advantages associated with it, such as protection from harmful rays from electronic display screens, anti-reflective coating lens is foremost favored. AR coating helps to eliminate the reflections thus reducing contrast and improving clarity.
Regionally, the prescription lens market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. Thanks to the growing prevalence of myopia and presbyopia in countries like the U.S. and Canada, North America dominated the market for global sales in 2019. In addition, this region is a home for major industry players and is introducing prescription lenses with advanced features. During the forecast period Asia Pacific is expected to witness the fastest growth rate. Countries like Japan, China, Singapore, and the Republic of Korea accounted for more than 45 percent of worldwide incidence of myopia. The incidence of refractive errors in the area has raised the number of patient pools and thus generated the need for prescription lens in the market.
The report also includes detailed profiles of some of the players like Hoya Vision Care Company, Prive Revaux, Rodenstock, ZEISS International, Vision Rx Lab, Vision Ease, Essilor, Marchon Eyewear, Seiko Optical Products Co., Ltd., and Luxottica Group among others. Key players concentrate on creating various kinds of prescription lens with different coating choices. Such players also build alliances and collaborations to extend the scope of their company and develop their product offerings.
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This report segments the prescription lens market as follows:
Global Prescription Lens Market: By Type
- Single Vision
- Workspace Progressives
Global Prescription Lens Market: By Application
- Hyperopia/ Hypermetropia
Global Prescription Lens Market: By Coating
- Scratch Resistant Coating
- Anti-Fog Coating
- Ultraviolet Treatment
Global Prescription Lens Market: By Region
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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