Optical Lens Edger Market Size

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.