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The global photochromic lens market is projected to reach $ 7.7 billion by 2024 from around $ 4.8 billion in 2018, exhibiting a CAGR of 8.3% during forecast period, owing to rising levels of ultraviolet radiations in atmosphere which can lead to eye disease. Photochromic lenses are the eye lenses that when exposed to ultraviolet radiations in sunlight, darken automatically. They return to lighten shade when no longer exposed to ultraviolet radiations. Declining prices, rising geriatric population along with growing popularity of these lenses are anticipated to significantly contribute to the growth of the global photochromic lens market during forecast period. Based on application, the global photochromic lens market is bifurcated into preventive and corrective. There is no preventive type of photochromic lenses in the market. Speak directly to the analyst to clarify any post sales queries you may have.
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On the basis of technology, the market is categorized into in-mass and imbibing & trans bonding. Among all, the in-mass segment dominated the global photochromic lens market in 2018. However, the imbibing & trans bonding category is poised to grow at a higher rate during forecast period. Geographically, the market for photochromic lens is segmented into Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Owing to rising technological advancements and increasing awareness about eye care, North America dominates the global photochromic lens market. However, the Middle East & Africa region is likely to witness swift growth in the demand for photochromic lens owing to increasing disposable income and rising awareness in the developing economies, such as South Africa, Nigeria, UAE, etc.
The global photochromic lens market is consolidated, as the key multinational players occupy the major industry share. Production capacity expansion, brand portfolio expansion, mergers, collaborations, and acquisitions are the key strategies adopted by these key players. Some of the major players operating in the global photochromic lens market are Carl Zeiss Meditec AG, Corning Incorporated, Essilor International S.A., Hoya Corporation, Vision Service Plan, Transitions Optical Limited, among others.
Years considered for this report:
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020–2024
Objective of the Study:
- To analyze and forecast the global photochromic lens market size.
- To classify and forecast the global photochromic lens market based on material, technology, application, distribution channel and regional distribution.
- To identify drivers and challenges for the global photochromic lens market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc., in the global photochromic lens market.
- To conduct pricing analysis for the global photochromic lens market.
- To identify and analyze the profile of leading players involved in the global photochromic lens market.
Some of the leading players in the global photochromic lens market are Carl Zeiss Meditec AG, Corning Incorporated, Essilor International S.A., Hoya Corporation, Vision Service Plan, Transitions Optical Limited, Optiswiss AG, Tokai Optical Co., Ltd., Seiko Optical Products Co., Ltd., Vision Dynamics LLC. etc.
Both primary as well as exhaustive secondary research were performed for this study. Initially, a list of manufacturers across the globe were sourced. Subsequently, primary research surveys were conducted with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the research could include the manufacturers which could not be identified due to the limitations of secondary research. The service offerings, distribution channels and presence of all major manufacturers across the globe were analysed.
The researchers calculated the global photochromic lens market size by using a bottom-up approach, wherein data for various application across various end-user segments was recorded and forecast for the future years. The researchers sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.
Key Target Audience:
- Global photochromic lens manufacturers, suppliers and stakeholders
- Potential Investors
- Organizations, forums and alliances related to the photochromic lens market
- Government bodies such as regulating authorities and policy makers
- Research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end-users, etc. besides allowing them in strategizing investments and capitalizing on the market opportunities.
Report Scope:
In this report, the global photochromic lens market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, By Material
- Glass
- Polycarbonate
- Plastic
Market, By Technology
- In-Mass
- Imbibing & Trans bonding
Market, By Application
- Corrective
- Preventive
Market, By Distribution Channel
- Online Retail
- Optical Chains
- Independent Eye Care Professionals
Market, By Region
- Asia-Pacific
- China
- India
- Singapore
- Australia
- New Zealand
- Rest of APAC
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- Rest of Europe
- North America
- United States
- Mexico
- Canada
- Rest of North America
- South America
- Brazil
- Argentina
- Venezuela
- Rest of South America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Iran
- Nigeria
- Rest of Middle East & Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global photochromic lens market.
Available Customizations
With the given market data, customisation is offered for specific needs. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
Profit margin analysis in case of direct and indirect sales channel.
Table of Contents
1. Photochromic Lenses: An Introduction2. Research Methodology3. Executive Summary12. Market Trends & Developments14. Strategic Recommendations
4. Voice of Customers/Customer Insights
5. Global Photochromic Lenses Market Outlook
6. North America Photochromic Lenses Market Outlook
7. Asia-Pacific Photochromic Lenses Market Outlook
8. Europe Photochromic Lenses Market Outlook
9. South America Photochromic Lenses Market Outlook
10. Middle East & Africa Photochromic Lenses Market Outlook
11. Market Dynamics
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Essilor International S.A.
- Carl Zeiss Meditec AG
- Corning Incorporated
- Seiko Optical Products Co. Ltd.
- Hoya Corporation
- Transitions Optical Limited
- Vision Dynamics LLC
- Tokai Optical Co. Ltd
- Optiswiss AG
- Vision Service Plan
(Note: The companies list can be customized based on the client requirements)
