The latest market report published by Credence Research, Inc. the global market for optical lens edgers was valued at US$ 380.5 million in 2017 and is expected to reach US$ 673.2 million by 2026, increasing to CAGR by 6.7 per cent from 2018 to 2026.
The global market for optical lens edgers is expected to grow gradually over the forecast period from 2018 to 2026, mainly due to its current position in the eyeglass and imaging industry. The incidence and prevalence of vision impairment is directly proportional to the use of visual media and to the growing population. As the overall screen time of the general population is constantly increasing, the incidence of visual deformities will also increase accordingly, increasing the demand for corrective eyeglasses. In addition, a major portion of the impaired vision group of patients is in the 50-year age group and above. As vision impedance is directly correlated with aging, the global increase in the geriatric population is also driving market growth.
Browse the full report at “Optical Lens Edgers Market”
Another key factor contributing to the growing uptake of lens edgers is the booming camera industry. The camera industry in the world is flourishing through the growing use of visual media and image sharing, which is becoming a prime mode of communication. This has led to an increase in the worldwide demand for camera and visualization lenses and thus to the market growth of optical lens edgers.
On the basis of the type, semi-automatic lens edgers are in high demand globally due to higher uptake from stand-alone eyeglass shops and competitive prices along with better efficiency than manual edgers. On the other hand, the demand for automatic devices in the developed parts of the world is increasing. The segment of the eyeglass is the largest area where the edges of the optical lens are widely used, while the segment of the camera lens is subject to rapid growth. In terms of regional demarcation, it is anticipated that North America and Europe will see slow growth with significant progress in device installations from Asia-Pacific.
Key Market Movements:
- Growing senescent population and increasing incidence of vision related disorders in the global population
- High demand for semi-automatic devices due to offered precision at competitive prices
- Technical maturity leading to moderate market growth in terms of innovation. This is also leading to growing focus on offering simplicity in machines.
- Sustained demand due to booming cameras and smartphones industries
- Proliferation of local manufacturers in Asia Pacific and Latin America to pose as a prominent challenge to the multinational players based from North America and Europe
By Applications Type
- Eyeglass Lens
- Microscope Lens
- Camera Lens
By Geography Segment
- North America (U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (Middle East & Africa, Latin America)