- Growing adoption of high-precision equipment in lab sciences and ophthalmology industries steering revenue generation in optical lens edger market; manufacturers focus on incorporating technologies that help improve entire workflow to attract customer demand
- Rise in use in eyeglass lens processing expanding avenues, particularly in North America; Asia Pacific market to witness sizable lucrative prospects
WILMINGTON, Del., Sept. 15, 2022 /PRNewswire/ -- Recent developments in the optical lens edger market indicate that there is a clear shift toward automated systems to meet the customer demands in ophthalmology and lab sciences applications. Over the years, manufacturers have also geared toward equipping the systems with features that enable customers to optimize the entire workflow. The global optical lens edger market is projected to advance at CAGR of 7.00% during the forecast period of 2022-2031.
Automatic and semi-automatic lens edgers are expected to be the largest revenue generator in optical lens edger market. Focus on customization is emerging as a value proposition for many firms in market. Moreover, products integrated with high-end digital technologies enable them to capture steady revenue streams from industrial end-users. A case in point is the use of 3D lens sensors.
User convenience combined with affordability will be key aspects that will drive the future market demand for optical lens edger. Demand for high-precision equipment in lab applications is expected to generate substantial revenues.
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Key Findings of Optical Lens Edger Market Study
- Preference Toward Automated Systems Presents Massive Lucrative Opportunity: The TMR study found that semi-automatic product type accounted for a key share of the optical lens edger market. Affordability and customer convenience are major underpinnings for the popularity of semi-automatic optical lens edgers among all customers. However, the need for fully automated equipment and the emphasis on precision especially for lab applications have tilted the scale toward automated product types. The requirements will stir technological advancements and will lead to price reductions in the next few years. As a result, the segment is anticipated to witness incredible avenues and will be fastest growing market for optical lens edger.
- Enormous Demand in Eyeglass Lens Processing: The authors of the TMR study observed that standalone eyeglass shops are the largest user base. The eyeglasses held the major share of all the applications in 2021, and is expected to retain their lead. High-volume demand for eyeglasses has propelled massive revenue growth from this segment.
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Optical Lens Edger Market: Key Drivers
- Rise in use of lens in treating vision disorders is a key driver of the optical lens edger market. Rise in demand in ophthalmology is driven by concerns of rising incidence of avoidable vision impairments.
- Growing sales of lens to the camera industry to consumers and industrial markets is spurring the demand for optical lens edger. Rise in adoption of high-end lens in cameras and imaging technologies is expanding the horizon for players in the optical lens edger market.
Optical Lens Edger Market: Regional Growth Dynamics
- Within the next few years, North America is projected to hold a major share of the optical lens edger market. The U.S. held the leading share of the regional market, and will continue to retain its lead on the back of a large eyeglass customer base. Canada will also generate lucrative demand for products in the coming years, thus fueling the overall regional market.
- Asia Pacific has been estimated to be a potentially lucrative market. China has been at the forefront with its sizable production of lens edgers which is available to other markets ate relatively low cost. This has kept the country market in a good stead internationally. India is also a promising market. Widespread demand for lens among contact lenses and camera manufacturers is fueling the growth prospects.
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Optical Lens Edger Market: Key Players
The study found that relatively a few players control a majority of stakes in the optical lens edger market. Leading players in the optical lens edger market are leaning on acquisitions, partnerships, and divestiture as competitive strategies.
Key market players include Mei S.R.L., Huvitz Corp., Nanjing Laite Optical Co. Ltd., Ningbo FLO Optical Co., Santinelli International, INNOVA Medical Ophthalmics, NIDEK CO., LTD., Essilor International S.A.
Optical Lens Edger Market Segmentation
- Type
- Manual Optical Lens Edger
- Automatic Optical Lens Edger
- Semi-automatic Lens Edger
- Application
- Eyeglass Lens
- Microscope Lens
- Camera Lens
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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