Single Vision Lenses Global Market Observe Highest Growth of $8.39 Billion with an Excellent CAGR of 4.5% by 2028

Global single vision lenses market size is expected to reach $8.39 billion by 2028 at a rate of 4.5%, segmented as by type, spherical, aspherical, freeform

Oct 23, 2024 - 14:37

Single Vision Lenses Global Market Observe Highest Growth of $8.39 Billion with an Excellent CAGR of 4.5% by 2028

The single vision lenses global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Single Vision Lenses Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size -
The single vision lenses market size has grown steadily in recent years. It will grow from $6.74 billion in 2023 to $7.03 in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to the development of new materials, the introduction of digital lens designs and freeform technology, improvements in surgical techniques, continuous research efforts in optics and materials, and a surge in medical tourism for vision correction surgeries.

The single vision lenses market size is expected to see steady growth in the next few years. It will grow to $8.39 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to the growth of industrial sectors necessitating protective eyewear, awareness of UV protection and blue light filtering, improvement in healthcare facilities and eyecare clinics, and globalization of manufacturing. Major trends in the forecast period include increasing demand for presbyopia-correcting lenses, growing prevalence of myopia, hyperopia, astigmatism, and presbyopia, implementation of vision care programs, adoption of telehealth services, and policies promoting vision care and insurance coverage for eyewear.

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Scope Of Single Vision Lenses Market
The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Single Vision Lenses Market Overview

Market Drivers -
The increasing prevalence of myopia is expected to propel the growth of the single vision lenses market going forward. Myopia, commonly known as nearsightedness, is a refractive error of the eye where distant objects appear blurry while close objects can be seen clearly. The prevalence of myopia is rising due to increased screen time, prolonged work, and aging populations. Single vision lenses correct myopia by focusing light directly on the retina, improving distance vision. For instance, in April 2021, according to the Association for Research in Vision and Ophthalmology, a US-based learned society dedicated to ophthalmology and other vision-related topics, myopia affected nearly 30% of the world population in 2020, and this number is expected to rise to 50% by 2050. Projections estimate that 50% of the global population will be affected by myopia in the year 2050, of whom 10% will have high myopia. Therefore, the increasing prevalence of myopia is driving the growth of the single vision lenses market.

Market Trends -
Major companies operating in the single vision lenses market are focusing on developing advanced products, such as lenses with 360⁰ visual, to gain a competitive edge in the market. Single vision lenses with 360° visual clarity offer comprehensive focus across all angles, enhancing vision precision for various activities and daily tasks. They provide seamless correction without compromising peripheral vision, ensuring comfort and clarity in everyday use. For instance, in September 2022, HOYA Corporation, a Japan-based optical company, launched MySV single-vision lenses with 360⁰ Visual Comfort, the latest addition to its free-form single-vision lens portfolio. MySV lenses allow wearers to achieve 360° visual comfort by integrating four key elements into the design, and ultimately the patient experience, to bring confidence to the wearer in all situations.

The single vision lenses market covered in this report is segmented –
1) By Type: Spherical, Aspherical, Freeform
2) By Material: Glass, Polycarbonate, Other Material Types
3) By Age Group: Less Than 18 Years, Greater Than Or Equal To 18 Years And Less Than 40 Years, Greater Than Or Equal To 40 Years
4) By Application: Hyperopia (Farsightedness), Myopia (Nearsightedness), Astigmatism, Presbyopia

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Regional Insights -
North America was the largest region in the single vision lenses market in 2023. The regions covered in the single vision lenses market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies -
Major companies operating in the single vision lenses market are Essilor Luxottica, Hoya Corporation, Nikon Corporation, Carl Zeiss AG, Johnson & Johnson Vision, Rodenstock GmbH, Shamir Optical Industry Ltd., Norville, Leica Camera AG, Vision-Ease Lens, Younger Optics Asia Pacific Ltd., iCoat Company LLC, Seiko Optical Products Co. Ltd., GKB Optic Technologies Pvt. Ltd., Optiswiss AG, KODAK Lens, Augen Optics, Opticote Inc., Tokai Optical Co. Ltd., Shanghai Conant Optics Co. Ltd., Jiangsu Aogang Optical Glasses Co. Ltd., Central Optical Co. Ltd.

Table of Contents
1. Executive Summary
2. Single Vision Lenses Market Report Structure
3. Single Vision Lenses Market Trends And Strategies
4. Single Vision Lenses Market – Macro Economic Scenario
5. Single Vision Lenses Market Size And Growth
…..
27. Single Vision Lenses Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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