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Global Photochromic Lenses Market Share Is Likely To Reach At A CAGR Value Of Around 7.10% By 2028

22-Sep-2022 | Facts and Factors

According to Facts and Factors, the global photochromic lenses market size was worth USD 5823.5 million in 2021 and is estimated to grow to USD 8788.62 million by 2028, with a compound annual growth rate (CAGR) of approximately 7.10% over the forecast period. The report analyzes the photochromic lens market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the photochromic lenses market.

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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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

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. However, pain and other issues associated with using photochromic glasses and the global economic downturn are limiting the global market.

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.

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.

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

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Key global photochromic lens market players 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. and Vision Dynamics LLC. Merger & Acquisition

Recent Development:

  • 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.

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
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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