Single Vision Lenses Market Growth Forecast: Exploring Trends and Opportunities for the Next Decade
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How has the single vision lenses market size evolved in recent years?
In recent times, the market size of single vision lenses has consistently expanded. The market value is anticipated to increase from $7.03 billion in 2024 to $7.37 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 4.8%. This upward trend during the past years can be traced back to factors such as the creation of novel materials, the emergence of digital lens blueprints and freeform technology, enhancement in surgical methodologies, relentless investigative endeavors in optics and materials, and a boom in medical tourism related to vision correction procedures.
What are the predictions for the single vision lenses market size in the coming years?
The single vision lenses market size is expected to see steady growth in the next few years. It will grow to $8.75 billion in 2029 at a compound annual growth rate (CAGR) of 4.4%. 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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What key factors are fueling the growth of the single vision lenses market?
The growth of the single vision lenses market is anticipated to be propelled forward by the rising prevalence of myopia. Also known as nearsightedness, myopia is an eye refractive error that makes distant objects appear blurry while close objects remain crystal clear. Myopia’s escalating prevalence can be attributed to factors such as increased screen time, prolonged work routines, and an aging population. Single vision lenses help rectify myopia by channelling light directly onto the retina, thereby enhancing distance vision. For instance, BMJ Publishing Group, a health organization based in the UK, reported in September 2024 that over 36% of children and adolescents worldwide are suffering from myopia. This is a significant upswing from previous decades, with projections showing that the count of those with myopia could surge past 740 million by 2050. Hence the growing incidence of myopia is the driving force behind the expansion of the single vision lenses market.
How is the global single vision lenses market divided into key segments?
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
Subsegments:
1) By Spherical: Standard Spherical Lenses, High-Index Spherical Lenses
2) By Aspherical: High-Index Aspherical Lenses, Polycarbonate Aspherical Lenses
3) By Freeform: Customized Freeform Lenses, Digital Freeform Lenses
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Who are the key firms paving the way for growth in the single vision lenses market?
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.
What key trends are currently impacting the single vision lenses market’s development?
Prominent players in the single vision lenses market are striving to gain an advantage by creating innovative products like lenses offering 360° visual clarity. These single vision lenses provide complete focus from all angles, and enhance precision in vision for different activities and routine tasks. They ensure uncompromised peripheral vision while providing corrections, thus assuring comfort and clarity for regular usage. For example, in September 2022, HOYA Corporation, an optical firm based in Japan, introduced MySV single-vision lenses with 360° Visual Comfort, as a new entrant in its portfolio of free-form single-vision lenses. The MySV lenses, incorporating four fundamental elements into the design, offer the users a 360° visual comfort, thereby instilling confidence in them in all circumstances.
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Which regions are most influential in expanding the single vision lenses market?
North America was the largest region in the single vision lenses market in 2024. The regions covered in the single vision lenses market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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