Market Research Future published a research report on “Optical Lenses Market Research Report – Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The global optical lenses market is growing rapidly. The market growth attributes to rising optical lens applications in eyeglasses & contact lenses, astronomical telescopes, binoculars, magnifying glasses, and microscopes. Besides, advances in laser technology and the rising trend of miniaturization of these lenses (micro-lenses) drive the market growth, allowing customized shapes and optical properties suitable for cameras, solar cells, and microscopes. Moreover, extensive uses of microlenses in advanced smartphone cameras to increase sensitivity and imaging speed in low-light conditions, escalate the market growth.
According to Market Research Future (MRFR), the global Optical Lenses Market is projected to grow over USD 6 BN by 2023, registering a 7% CAGR during the forecast period (2017 – 2023). Increasing production and sale of smartphones is a key driving force behind the growth of the global optical lenses market. Advancements in ophthalmology is another key growth propeller of the market. Also, the rapid adoption of ophthalmologic lenses by the young population accelerates the growth of the market.
Additionally, the rise in popularity of photography as a hobby and full-time carrier and increasing availability of a range of cost-competitive professional digital cameras bolster the growth of the market.
Furthermore, augmenting demand for high definition (HD) videos and images that are shot by using high-quality optical lenses boost the market growth, majorly.
Increased production of optical lenses and increased investments by key manufacturers in the development of advanced optical lenses foster the growth of the market.
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The prominent players in the optical lenses market are- Nikon Corporation (Japan), Schott (Germany), Olympus Corporation Of The Americas (U.S.), Bausch + Lomb (U.S.), Menicon Co. Ltd. (Japan), Cosina Co., Ltd. (Japan), Carl Zeiss Ag (German), Cyberoptics Corporation (Ticker: CYBE) (U.S.), Meade Instruments (U.S.) and others.
Optical Lenses Market – Segmentation
The optical lenses market is segmented on the basis of type, application and vertical. By application segment the market includes microscopy, laser processing, imaging and ophthalmic. Optical microscopy in used for viewing micro particles and inspection of blood cells. It can be used to view particles in any form such as solid, liquid and gas. It can be easily integrated with digital camera systems for analysis and data storage. Optical contact lenses are like implants however they don’t require surgery and can usually be inserted or removed by the user. They’re neither on nor under the skin full time. They’re exposed to both air and the body’s internal science. Contact lenses sit on the eye, thus can upgrade vision. They’re presented to both light and the mechanical development of blinking, so they can gather vitality.
Global Optical Lenses Market – Regional Analysis
The optical lenses market in North America region is growing due to high adoption of optical lenses in cameras and healthcare instruments to experience better imaging viewing experience. According to the study, the optical lenses market will show rapid growth in Europe region. Asia-Pacific market is estimated to be one of the fastest growing market as it is continuously investing into research and development of optical lenses market and growing oversea business attract more users and is driving optical lenses market in the region. Increasing population, and growing IT landscape is boosting the market in the region. The region is witnessing high adoption of optical lenses in consumer electronics owing to its low pricing. Developing countries such as India and China are adopting optical lenses at large scale owing to increasing eye and ENT disease and the eye-straining work adopted by most of the individuals by viewing mobile and other portable devices for long time is fuelling the market. By vertical segment, healthcare and defense sector is driving the optical lenses market. The region is witnessing high growth in optical lenses market due to growing oversea business and rise in eye contact diseases.
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