The aspheric lenses market provides optical correction for vision related issues. Aspheric lenses have unconventionally curved surfaces that produce different refractive properties across different areas of the lens. This aspherical quality produces better image clarity as it reduces optical aberrations compared to traditional spherical lenses. Aspheric lenses are used in myopia, hypermetropia, presbyopia and astigmatism correction. They are applied in ophthalmic lenses, contact lenses, intraocular lenses, camera lenses and other optical components.

The Global Aspheric Lenses Market is estimated to be valued at US$ 2.73 BN in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Aspheric Lenses Market Analysis are Essilor Group, Johnson & Johnson Vision, Zeiss, Nikon, Hoya Vision Care, Rodenstock, Shamir Optical Industry, Alcon, Bausch + Lomb, Abbott, Hanover Lens, EyeMed Technology, Menicon Co., Ltd., Seed Co., Ltd., CooperVision, and NIDEK CO., LTD. Essilor Group and Zeiss capture over 30% of the global market share due to their extensive product portfolio and global distribution network.

The demand for aspheric lenses is increasing significantly owing to the rising prevalence of vision disorders globally. According to the World Health Organization (WHO), at least 2.2 billion people have a vision impairment or blindness, with vision impairment higher among women. The increasing cases of myopia, hypermetropia and presbyopia is a major factor driving the need for aspheric lenses.

Aspheric lens manufacturers are focusing on expanding their global footprint through mergers and acquisitions. Manufacturers are targeting high growth markets including Asia Pacific, Latin America, and Middle East & Africa to leverage opportunities. For instance, in March 2021, Hoya Vision acquired the vision care business of Indonesian company PT Optosinda Dimensi Intertika. This acquisition helped Hoya Vision strengthen its presence in Southeast Asia.

Market drivers

One of the major drivers for the aspheric lenses market is the aging population globally. Changes in the crystalline lens of the eyes due to aging leads to presbyopia which requires vision correction using aspheric lenses. The number of people aged over 60 is expected to reach 2.1 billion by 2050 according to the UN Population Fund (UNFPA). The growing geriatric population base requiring vision correction is fueling market growth.

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