Ophthalmic Lens Market
The GMI Research report anticipates that the growth momentum of Ophthalmic Lens Market will accelerate at a growth rate of 4.38% over the forecast period. The technological innovations in ophthalmic lenses and the growing application of daily disposable contact lenses has supplemented the market growth.
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Ophthalmic Lens Market Dynamics
The accelerating incidences of vision impairment guided by the changing lifestyle and environment have stimulated the growth of the global ophthalmic lens market. As asserted by the World Health Organisation, the number of people with eye problems is likely to increase by 1.3 times between 2020 and 2030, i.e. from 76 million to 95.4 million patients, which will drastically elevate the market size. Also, with the growing awareness of vision impairment conditions, the demand for the ophthalmic lenses has substantially increased. The underdeveloped and developing economies, such as Eastern and Central Sub-Saharan Africa have witness high incidences of vision impairment, which is projected to raise the demand for ophthalmic lens for vision correction, leading to the overall market growth. Besides this, the ophthalmic lens market report projects that the rising geriatric population is another factor contributing to the market growth. The global geriatric population is projected to touch 1.4 million by the end of 2030 from 962 million in 2017. However, the surge in the demand for permanent vision correction might restrain the ophthalmic lens market share.
Type Segment Drivers
Based on the type, the single vision lens segmented is projected to expand at a substantial rate over the forecast period. Various organisations such as ZEISS International, are engaged in providing Rx single vision lenses and single vision stock lenses which has stimulated the market growth. It is one of the most economical lenses with no deformity and is extensively prescribed by doctors worldwide.
Curves Segment Analysis
Based on the curves, the convex segment will apprehend a remarkable share in the ophthalmic lens market. It helps in treating several disorders like hypermetropia, aphakia, and presbyopia, which has encouraged the market growth. It is also used as a corrective lens that has encouraged the market growth, thereby raising the ophthalmic lens market size.
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