The increasing use of bronchoscopy serves as the primary factor to drive growth in the ophthalmic lens market. The growing cases of refractive and cataract errors require ophthalmic lenses to improve vision quality. Furthermore, the global population is also witnessing weak eyesight issues because of increasing screen time in front of mobile and computer screens. These factors are crucial for the growth in the ophthalmic lens market.
People across the world are also witnessing an increased number of cases of presbyopia. It is a visual disorder that reduces the capabilities of the eyes to focus on nearby objects. In order to cure this disorder, there is a crucial requirement for progressive lenses, and it develops opportunities in the ophthalmic lens market.
The manufacturers from the ophthalmic lens market have also launched advanced vision correction lenses. These lenses from the ophthalmic lens market play a crucial role to provide improved aesthetics and comfort in a single lens. These advanced lenses from the ophthalmic lens market also ensure super optical performance.
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A variety of players in the ophthalmic lens market have fragmented the industry approach. There is an increase in the count of infection cases due to wearing contact lenses. So, it leads to the development in the ophthalmic lens market to provide better services to the end-users. The government is also taking initiatives to increase awareness about developments and advantages to fuel growth in the ophthalmic lens market on a global platform.
Clinicians, researchers, and manufacturers are also concentrating to provide advanced vision solutions in the ophthalmic lens market. Some of the prominent players from the ophthalmic lens market are investing a handsome amount for research and development activities. The motive of these initiatives is to come up with distinct and advanced products in the ophthalmic lens market. These cumulative factors are expected to bolster demand in the ophthalmic lens market.
But the ophthalmic lens industry is a major hindrance in the form of surgeries as these eradicate visual disorders permanently. Even the procedure for the conduction of these surgeries is also quite simple. So, these factors may curtail the growth opportunities in the ophthalmic lens market.
Global Ophthalmic Lens Market: Introduction
Among the key factors driving the global ophthalmic lens market is the rising application of bronchoscopy. Owing to the rising cases of cataract and refractive errors, the demand regarding ophthalmic lenses for the improvement of vision is rising consistently. Moreover, there has been a significant rise in people with weak eye sight due to spending excessive time in front of computer and mobile screens. These factors are foreseen to be responsible behind the growth of global ophthalmic lens market.
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Global Ophthalmic Lens Market: Novel Developments
A well-known international firm, Nikon Corporation has launched a huge range of optical lenses keeping user’s demand in mind. The firm has improved in the lens technology field. It has launched See series lenses which represent a high end premium product range of ophthalmic coatings and lenses. The series include various types of optical lenses, along with progressive lenses, single vision lenses, and extended focus lenses. The progressive lenses range is an excellent option for correcting presbyopia. It has even launched a huge arrange if alternatives to provide super optical performance, and improved comfort and aesthetic in a single lens.
The global ophthalmic lens market is prognosticated to be highly fragmented due to presence of several players in it. Several manufacturers, researchers, and clinicians are concentrating on providing advanced methods to reduce the infection casued because of wearing contact lenses.
Some of the most prominent competitors operating in the competitive landscape of global ophthalmic lens market include –
- Johnson & Johnson Services, Inc.
- The Cooper Companies Inc.
- Bausch Health
- HOYA Corporation
- Novartis AG
Global Ophthalmic Lens Market Dynamics
Initiatives by Government to Strengthen Market Demand
The rising steps taken by the government to spread awareness regarding the advantages and developments in the ophthalmic lenses are foreseen to fuel the growth in global ophthalmic lens market in the upcoming years.
Various key players are investing in research and development activities to come up with advanced and distinct products. There are making efforts by conducting campaigns and advertising for the awareness within the masses, ophthalmologists, and optometrists. World Health Organization has carried out certain initiatives for decreasing the avoidable blindness. It consistently conducts the workshop for the same, spreading the knowledge about the new developments and technologies among the people. It thus, helps the ministries of health in gaining universal health goals. All such factors are propelling the growth of global ophthalmic lens market in span of few years.
Rising Permanent Vision Correction Option Hampers Market Growth
However, one of the major hindrances in market growth is popularity of vision correction surgeries which are performed by minimally invasive methods. This, increasing demand for permanent vision correction methods is likely to pull down market growth in future.
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North America to Lead Global Ophthalmic Lens Market
Geographically, the global ophthalmic lens market is segmented majorly into North America, Asia Pacific, Europe, and Rest of the World. Among these, North America region accounts for the maximum market share in ophthalmic lens industry. This is credited to the emergence of several major firms in the region, along with adoption of innovative lens technology. Nations for example, Canada and the US are the major contributor in global market revenue for ophthalmic lenses in the mentioned region. Furthermore, Asia‐Pacific is also estimated to flourish rapidly with a decent CAGR, propelled by the advent of various small and big lens makers in the region.
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