DUBLIN, Ireland, Oct. 03, 2022 (GLOBE NEWSWIRE) -- According to Facts and Factors has published a new research report titled “Photochromic Lenses Market Size, Share, Growth Analysis Report By Material (Glass, Polycarbonate, Plastic), By Technology Type (In-mass, Imbibing & Trans-bonding, UV & Visible Light, Others), By Distribution Channel (Online, Optical Chains, Independent Eye Care Professionals (ECPs)), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Photochromic Lenses Market size & share in terms of revenue was worth of USD 5,823.5 million in 2021and it is expected to surpass around USD 8788.62 million mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 7.10% during the forecast period 2022to 2028.”
Photochromic Lenses Market Overview:
U.V. rays cause photochromic glasses to darken. It blocks harmful U.V. rays from entering the human eye. In the absence of sunlight, it can also be used indoors because it quickly returns to being clear. The amount of time spent exposed to U.V. radiation determines how tinted the glasses are. Or, to put it another way, tinting is inversely correlated with U.V. exposure. These glasses are available in various hues, such as grey, green, and brown. These lenses come in high-index, progressive, and bifocal versions. Tinted lenses and light-adaptable lenses are other names for photochromic lenses.
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Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 236+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 5,823.5 Million |
| Projected Market Size in 2028 | USD 8788.62 Million |
| CAGR Growth Rate | 7.10% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | Carl Zeiss Meditec AG, Corning Incorporated, Essilor International S.A., HOYA Corporation, Vision Service Plan, Transitions Optical Limited, Optiswiss AG, TOKAI OPTICAL CO. LTD., SEIKO OPTICAL PRODUCTS CO. LTD., Vision Dynamics LLC. Merger & Acquisition, and others. |
| Key Segment | By Material, Technology Type, Distribution Channel, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
Market Dynamics
Growth Drivers
- Rising adoption of photochromic lenses amongst the older population to drive the market growth
The rising prevalence of eye illnesses, lower costs, increased public awareness, and the development of photochromic lenses with enhanced features are projected to fuel the global photochromic lenses market growth during the forecast period. Additional factors such as technological advances, expanding retail locations, and improvements in comfort & style will drive the market for photochromic lenses over the projected period. Growing photochromic lens usage and increased demand for photochromic lenses among the elderly are expected to drive the market.
Product acceptability is increasing, and launches by the region's main industry competitors are creating prospects for market expansion. The market is expected to grow during the projected period due to increased product launches by key companies and factors such as an increase in eye issues & an aging population. The ongoing rise in the number of occurrences of eye disease, improved ophthalmology diagnostic procedures, and rising public awareness are all expected to boost the global market.
Restraints
- High costs associated with the production of photochromic lenses may hamper the market growth
Pain and other issues associated with using photochromic glasses and the global economic downturn are limiting the global market.
Browse the full “Photochromic Lenses Market Size, Share, Growth Analysis Report By Material (Glass, Polycarbonate, Plastic), By Technology Type (In-mass, Imbibing & Trans-bonding, UV & Visible Light, Others), By Distribution Channel (Online, Optical Chains, Independent Eye Care Professionals (ECPs)), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/photochromic-lenses-market
Photochromic Lenses Market: COVID-19 Impact Analysis
At this time, COVID-19 represents a significant risk to the administrations of nations located all over the world. On a worldwide scale, significant companies' market capitalizations, as well as industrial production and other economic operations, have experienced a fall. Several companies have stopped doing business with countries outside of the country, placed limits on travel, and other similar actions. On the other hand, there is more and more evidence that myopia and other eye problems are getting worse because digital tools are being used more in the classroom and at work because of the shutdown.
Photochromic Lenses Market: Segmentation Analysis
The global photochromic lenses market is segregated based on material, technology type, distribution channel, and region.
The market is divided into glass, polycarbonate, and plastic based on material. The plastic market is expanded significantly in the year 2021. Based on technology type, the market is divided into in-mass, imbibing & trans-bonding, U.V. & visible light, and others. In 2021, the U.V. & visible light segment held the most market share, and this trend is anticipated to continue. The distribution channel divides the market into online, optical chains, and independent eye care professionals (ECPs). Independent eye care providers dominated the market for photochromic lenses in terms of distribution channels in 2021.
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Competitive Landscape
The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards. Some of the main competitors dominating the global Photochromic Lenses market include -
- Carl Zeiss Meditec AG
- Corning Incorporated
- Essilor International S.A.
- HOYA Corporation
- Vision Service Plan
- Transitions Optical Limited
- Optiswiss AG
- TOKAI OPTICAL CO. LTD.
- SEIKO OPTICAL PRODUCTS CO. LTD.
- Vision Dynamics LLC. Merger & Acquisition
Key Insights from Primary Research:
- As per the analysis shared by our research analyst, the Photochromic Lenses market is estimated to grow annually at a CAGR of around 7.10% over the forecast period (2022-2028).
- In Terms of Revenue, the Photochromic Lenses market size was valued at around USD 5,823.5 Million in 2021 and is projected to reach USD 8,788.62 Million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Based on material, the plastic category will grow dramatically in 2021.
- By distribution channel, the independent eye care professionals (ECPs) category dominated the market in 2021.
- On the basis of region, North America dominated the photochromic lenses market in 2021.
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Key Offerings:
- Market Size & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Material, Technology Type, Distribution Channel, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Regional Analysis:
The global photochromic lens market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. North America is expected to dominate the photochromic lens market by 2028. This is due to an increase in the prevalence of eye disorders and the number of older persons. During the projection period, the number of people in the region with diabetic retinopathy, cataracts, macular degeneration, and glaucoma is expected to rise, increasing demand and market share for photochromic lenses. Furthermore, increased product adoption and launches by significant regional market competitors drive regional market growth.
Recent Developments
- February 2021, EssilorLuxottica introduced the Ray-Ban Authentic product range in Canada and the United States. Transitions technology, photochromic lenses, and blue light filtering are included in the product line.
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The global Photochromic Lenses market is segmented as follows:
By Material
- Glass
- Polycarbonate
- Plastic
Technology Type
- In-mass
- Imbibing & Trans-bonding
- UV & Visible Light
- Others
Distribution Channel
- Online
- Optical Chains
- Independent Eye Care Professionals (ECPs)
By Region
- North America
- Europe
- Asia Pacific
- The Middle East & Africa
- Latin America
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