The major players dominating the spectacles lens market are Essilor International SA, Carl Zeiss Meditec AG, Novartis AG(Alcon), Hoya Corporation,Rodenstock GMBH, Valeant Pharmaceuticals (Bausch+Lomb), Seiko Optical Products Co. Ltd,Johnson and Johnson, Cooper Companies, Inc. (CooperVision) and GKB Ophthalmics Ltdare a few among other leading producers in the world.
Lens are transmissive optical device that are used to focus a ray of light through the process called refraction. These lens are made up of transparent material and can be differentiated by the material type of simple and compound lens. The focusing of the light helps in the formation of an image. Numerous manufacturers are developing lenses, usually the single vision lens that can be either concave or convex in nature. These type of lens are made from single prescription in order to correct a specific vision deficiency that can be either short sightedness or long sightedness. It is indefinite that the today’s generation get fashionable choices and new materials in their spectacle lens and they are recorded to spend a lot in their frames and good quality lens. Current lens come with coatings that protect the material and gives the product a prolonged life.
The rising incidences of refractive errors in consumers due to their sufferings from myopia and presbyopia are rising the demand for spectacle lens in the market. These are mainly caused due to the lifestyle errors and poor eating habits. People who are engrossed in usage of digital devices like laptop, smartphones and others are more prone to visiting the ophthalmologists for spectacle lenses. These are the major drivers aiding in the significant growth of the spectacle lensindustry. However there are certain restraints that pull back the spectacle lens market. The quality of the lens matter a lot in order to have a sustained life for the spectacle for the user. The poor handling of the product and lack of proper cleaning of the glasses can damage the spectacles, giving an urge to buy a new pair of spectacles and increasing its sales. However, the active usage of spectacles despite the recent uses of contact lens by the aged population will keep on fueling the demand for the product in the global market.
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The spectacle lens market can be segmented on the basis of types, by coating and by usage. By types, the spectacle lens can be segmented into single vision, bifocal, trifocal and progressive. The simple vision lens are the most popular type of spectacle lens and are found in either concave or convex shapes depending on the sightedness of the patient. By usage the spectacle lens can be either through prescription or OTC reading glass. There are many such users that just require a reading glass and have very minimum power. By coating, the spectacle lens market can be further differentiated on the basis of anti-reflective, scratch resistant, UV protection and others. Most of the consumers these days spend a lot on purchasing a good pair of spectacles and are convinced by the ophthalmologist’s suggestion to have a coated pair of lens.
Geographically, the spectacle lens market is present globally in all the major regions of the world namely, North America, Europe, Asia- Pacific, Latin America, Middle East and Africa all manufacture and use fillings and toppings. Owing to the rising demand of high quality spectacle lens, manufacturers are spending on preparing attractive designs of frames for the spectacles.
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North America and Europe are the leading regions globally that are reported to use the maximum number of spectacle lens. Other regions like the Asia-Pacific, Latin America, Middle East and Africa are adopting the culture of using contact lens but are still on the flex of using the lens with a pair of spectacles. Premium quality lens are highly priced but are preferred more if they have longer durability.