North America to Continue Dominating Photochromic Lens Market through 2024
Rising geriatric population coupled
with increasing awareness for eye care to drive global photochromic lens market
through 2024
According to
TechSci Research report, “Global Photochromic
Lens Market By Material, By Technology, By Application, By Distribution
Channel, By Region, Competition, Forecast & Opportunities, 2024”, global photochromic lens market
is expected to register a CAGR of over 8.3% during 2019-2024, on the
back of rising popularity of these lenses, product
innovations with enhanced technology and rising awareness towards eye care. Moreover,
growing ageing population across the globe and rising demand for photochromic
lenses among older population is further anticipated to positively influence global
photochromic lens market over the coming years. In terms of material, global photochromic
lens market is categorized into glass, polycarbonate and plastic, of which polycarbonate
is the rapidly growing segment on account of quick-darkening and quick-clearing
effect of these lenses and product innovation, i.e., availability of different
colors in polycarbonate lenses.
Browse 115 market data Figures spread through 130 Pages and an
in-depth TOC on "Global Photochromic Lens Market"
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Based on the distribution
channel, global photochromic lens market is segmented into online, optical
chains, and independent eye care stores. Of all, online segment is predicted to
witness a significant growth during forecast period owing to the wide range of
product offerings and various deals offered by the e-commerce vendors. However,
independent eye care stores segment is expected to continue its dominance
during forecast period. Essilor International S.A., Carl Zeiss AG, Corning
Inc., Seiko Optical Products Co., Ltd., Hoya Corporation, etc., were some of
the leading players in global photochromic lenses market in 2018 and are expected
to maintain their position during forecast period as well. Among regions, North
America dominated the market with 41% share in 2018. High discretionary
expenditure and style statement associated with photochromic lenses are some of
the major factors that have driven the market in the region.
On the basis of manufacturing
technology, global photochromic lenses market can be broadly categorized into in-mass
technology and imbibed & trans-bonding technology. In-mass technology is
the most widely used technology for manufacturing photochromic lenses due to
low operational cost for implementing the technology. Moreover, this technology
is applicable on all types of lens materials.
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“Global photochromic
lens market is anticipated to register a steady growth over the course of next
five years. Technological advancements, increasing retail outlets and comfort
and style benefits offered by photochromatic lenses are the factors fueling
growth in global photochromic lenses market. Moreover, global photochromic
lenses market is further anticipated to witness growth in the coming years owing
to rising cases of eye diseases, increasing diagnostic procedures for
ophthalmology and growing awareness among consumers.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Global Photochromic Lens
Market By Material, By Technology, By Application, By Distribution Channel, By
Region, Competition, Forecast & Opportunities, 2024”,
has
evaluated the future growth potential of global photochromic lens market and
provides statistics and information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global photochromic lens market.
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