Optical Lens Edger Market Size
|2021 - 2029
|Base Year For Estimation
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Optical Lens Edger Market Analysis
The optical lens edger market is expected to register a CAGR of 5.6% over the forecast period.
The government regulations & lockdown led to a substantial decline in overall non-emergency treatments, which in turn restricted the usage of optical lens edgers in vision impairment. In February 2021, an article in the American Journal of Ophthalmology reported that the COVID-19 pandemic decreased surgical volumes in April 2020 by 90%. The decrease in surgical procedures due to COVID-19 also affected many ophthalmology surgeries across the world. This also hampered the prospects of the optical lens edger market. Over the past few months of COVID-19, economic activities started to pick up pace in several parts of the world, paving the way for new growth momentum in the optical lens edger market, thus the market is expected to witness growth over the forecast period.
The major factors that are driving the market are the increasing demand for optical edgers by the ophthalmology and camera industries, the increasing geriatric population, and the high prevalence of patients with vision impairment. Also, these optical edgers are being used in medical devices and equipment such as dental apparatus, ophthalmic equipment, and ENT equipment. Thus, the high demand for optical edgers is fueling the growth of optical lens edgers over the forecast period. The advancement in optical technology and expanding research and development activities in the field of vision and the new product are also propelling the growth of the studied market. For instance, in July 2022, WALDO launched the Hydra Boost Plus lens. It is a completely new product, and these daily contact lenses are infused with a uniquely pink-colored vitamin-B12 saline solution to naturally support the eyes' ability to retain tears, reduce redness and eyestrain, and wear comfortably for twice as long. Furthermore, the increasing penetration of the internet and social media has raised the demand for cameras with superior lens edger and picture quality. These usages of the optical lens edger in different industries are also expected to have a significant impact on the growth of the studied market.
The high prevalence of patients with vision impairment is also increasing the demand for optical lenses, thereby driving the market. For instance, in June 2021 an article by the Journal of the American Medical Directors Association, a survey was conducted in a few nursing homes in the United States and reported that the overall prevalence of vision impairment or blindness was 63.8% and was above 60% for each age, sex, and race category. The prevalence of vision impairment or blindness was 68.4% among patients with cataracts, 69.4% among patients with macular degeneration, 70.5% among patients with glaucoma, and 68.4% among patients with diabetic retinopathy. Similarly, in February 2021, an article by the JAMA Ophthalmology reported that more than 1 billion people worldwide have vision impairment or blindness from potentially preventable or correctable causes. In June 2022, another study conducted in a school in China, in an article by the Frontiers in Public Health reported the overall prevalence of myopia was 75.35% and a high proportion of myopia among school students in the city of Weifang, and gradually increased with age, and the prevalence of myopia was highest in Changyi areas. This article also quoted that the number of people suffering from myopia is expected to reach 4.8 billion across the world by 2050. Thus, the high prevalence of eye-related disorders among individuals ranging from young to adults is increasing the demand for lenses, thereby driving the market.
Thus, due to the aforesaid mentioned reasons, the market is expected to witness significant growth over the forecast period. However, the declining rate of product improvement and the increasing use of contact lenses may slow down its growth over the studied period.
Optical Lens Edger Market Trends
Automatic Optical Lens Edger Segment is Expected to Witness a Significant Growth Over the Forecast Period
A typical edging system contains - edger and optical blocker. The optical edger is a part of optical manufacturing equipment that edges, cuts, or grinds optical lenses so that they can fit into the selected frame. Different types of edging modes are automated beveling, controlled beveling, EX lens edging, rimless edging, automated grooving, and controlled grooving. The emergence of automatic technology in optical lens cutters and edgers has eliminated the usage of water for finishing operations. The integration of automation has provided various technical advantages such as auto-calibration and improved versatility of products over other sustainable cutters and lens edgers. The automatic optical lens edger segment forecast appears promising due to the rise in the ophthalmology, and camera industries, and the high incidence of eye-related disorders.
The technological advancements by key market players are increasing demand for the edgers in the photography and opthalmology industries. For instance, in March 2022, Topcon Healthcare launched SOLOS, an automatic lens analyzer. SOLOS is designed as a multi-functional device to simplify the clinical workflow by combining a fully automated lensmeter with a full-range spectrometer. It provides automatic lens type detection, automatic marking, and lens mapping of single vision, progressive, and other multifocal lenses-in spectacle frames or as uncut lenses. Thus, such advancement in the automatic lenses is driving the automatic lens edger segment, thereby propelling the market.
Furthermore, with the increase in ophthalmic diseases, the demand for lenses is expected to increase which in turn is expected to drive demand for automatic manufacturing. For instance, in March 2021, an article by European Journal of Ophthalmology, reported that myopia is predicted to become the most common cause of irreversible vision impairment and blindness worldwide. Similarly, in August 2022 an article by Journal of Glaucoma reported that primary open-angle glaucoma is a neurodegenerative disease highly prevalent in the European adult population, with cases expected to increase over the next 30 years. Thus, a high incidence of eye disorders is increasing the demand for lenses, which in turn will increase the demand for automatic lens edgers and thus fueling the growth of the studied market. Thus, due to the above-mentioned reasons, the market is expected to show significant growth over the forecast period.
North America is Expected to Witness a Significant Growth Over the Forecast Period
North America is projected to dominate the global optical lens edger market over the forecast period due to the presence of a large eyeglass consumer base, the presence of key market players, and technological advancements. The adoption of technologies that help optimize the entire workflow is a key trend in the global optical lens edger market. Demand for high-quality finishes for modern optical edgers among industrial manufacturers is also propelling the growth of the studied market in the region. Key players are focusing on customization to gain a competitive advantage in the optical lens market. For instance, in March 2022, STAAR Surgical Company received the US FDA approval for the EVO/EVO+ Visian Implantable Collamer Lens ('EVO') for the correction of myopia and myopia with astigmatism. For another instance, in November 2021, Lentechs is developing a new generation of soft, suspended contact lenses, designed to transform the treatment paradigm for presbyopia, and announced key results in a milestone clinical trial evaluating its investigational contact lens for patients with presbyopia and presbyopia with astigmatism.
Furthermore, well-established insurance policies and the availability of advanced healthcare infrastructure are a few of the other factors boosting the market in this region. Also, the increasing number of geriatric populations, along with a growing patient pool in the region is impacting the growth of the studied market significantly. According to the International Agency for the Prevention of Blindness 2021 database, approximately 4.4 million people have eye loss in the United States. Also, presbyopia is a natural part of aging characterized by a gradual loss of the eye's ability to focus on objects up close and impacts many people in the United States. Thus, due to the aforesaid mentioned reasons the region is expected to witness significant growth over the forecast period, thereby driving the market.
Optical Lens Edger Industry Overview
The Optical Lens Edger Market is fragmented and competitive in nature and consists of a large number of small-scale players. Some of the companies which are currently dominating the market are Essilor International S.A., Topcon Corporation, NIDEK CO., LTD., Coburn Technologies Inc., Huvitz Corp., Mei Srl, Santinelli International, Shanghai Supore Instruments Co. Ltd, Visslo, INNOVA Medical Ophthalmics, Inc. and Nanjing La.ite Optical
Optical Lens Edger Market Leaders
Essilor International S.A
Coburn Technologies Inc
NIDEK CO., LTD
*Disclaimer: Major Players sorted in no particular order
Optical Lens Edger Market News
- In September 2022, FYi Health Group which operates a business, and others in the eyecare and healthcare space acquired WestGroupe, the Montreal-based eyewear company.
- In March 2022, Alcon launched the Clareon, intraocular lenses (IOLs) in the United States. Clareon can deliver consistent visual outcomes and exceptional clarity that is born out of glistening-free intraocular lens material.
Optical Lens Edger Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand for Optical Edgers by Opthalmology and Camera Industries
4.2.2 High Prevalence of Patients with Vision Impairment
4.2.3 Increasing Geriatric Population
4.3 Market Restraints
4.3.1 Declining Rate of Product Improvement
4.3.2 Increasing Use of Contact Lens
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Type
5.1.1 Manual Optical Lens Edger
5.1.2 Automatic Optical Lens Edger
5.1.3 Semi-automatic Optical Lens Edger
5.2 By Application
5.2.1 Eyeglass Lens
5.2.2 Microscope Lens
5.2.3 Camera Lens
5.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East and Africa
5.3.5 South America
126.96.36.199 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Essilor International S.A
6.1.2 Topcon Corporation
6.1.3 NIDEK CO., LTD
6.1.4 Coburn Technologies Inc
6.1.5 Huvitz Corp
6.1.6 Mei Srl
6.1.7 Santinelli International
6.1.8 Shanghai Supore Instruments Co. Ltd.
6.1.10 INNOVA Medical Ophthalmics, Inc.
6.1.11 Nanjing Laite Optical
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Optical Lens Edger Market Research FAQs
What is the current Global Optical Lens Edger Market size?
The Global Optical Lens Edger Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)
Who are the key players in Global Optical Lens Edger Market?
Essilor International S.A, Topcon Corporation, Coburn Technologies Inc, Huvitz Corp and NIDEK CO., LTD are the major companies operating in the Global Optical Lens Edger Market.
Which is the fastest growing region in Global Optical Lens Edger Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Optical Lens Edger Market?
In 2024, the North America accounts for the largest market share in Global Optical Lens Edger Market.
What years does this Global Optical Lens Edger Market cover?
The report covers the Global Optical Lens Edger Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Global Optical Lens Edger Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global Optical Lens Edger Industry Report
Statistics for the 2024 Optical Lens Edger market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Optical Lens Edger analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.