Future Market Insights
The materials used to make optical lenses are known as optical lens materials. Optical lenses are made of different materials, such as Silicone Hydrogel, Fluoro-silicone Acrylate, Hydrogel and PMMA. Amongst these, optical lenses made of silicone hydrogel soft contact lenses are used mostly because they have high oxygen permeability providing comfort and ease to the lens. These types of optical lens allow oxygen to pass through cornea thus making it possible to wear while sleeping. People suffering from presbyopia, astigmatism and other refractive errors generally use optical lenses made offluoro-silicone acrylate, which is thus fuelling the optical lens materials market. The use of wide scleral lenses in future is expected to promote the growth of gas permeable lenses during the forecast period.
Optical Lens Materials Market: Dynamics
Growing use of smart phones and electronic gadgets is resulting to problems related to vision, due to which use of contact lens and glasses made of high-quality materials is increasing, and consequently paving a lucrative path for the optical lens materials manufacturers.
The old age population is growing in countries, such as in Japan and China, among others, and old people mostly suffer from refractive errors, which is leading to increasing sale of lens and glasses and thus driving the optical lens materials market globally. Increasing disposable income of people and awareness towards the use of high-quality lenses is also the driving factors for the optical lens materials market in the developing as well as developed countries.
People are opting for surgeries to treat vision problems (Photorefractive Keratectomy ‘PRK’, and Laser-Assisted in Situ Keratomileusis ‘LASIK’), whereas serious risks reported due to use of contact lenses, such as eye dryness, infections, conjunctivitis, itchiness in the eye and ulcers are consequently leading to less consumption of optical lens materials and acting as obstacles in the growth of the optical lens materials market.
Optical Lens Materials Market: Segmentation
The optical lens materials market can be segmented based on type of lens and material used.
By type of lens:
Gas Permeable Lens
By material used:
Optical Lens Materials Market: Regional Outlook
The North America optical lens materials market is expected to grow at a significant rate due to the presence of key manufacturers in region, large number of eye care professionals, which suggest to use good-quality contact lenses, availability of technological advancement, increasing patient awareness, various government & NGO initiatives and high demand for contact lenses.
In Europe, the market is expected to propel at a significant rate during the forecast period due to the wide range of products, their availability, affordability, convenience to use and umpteen number of brands of contact lens.
Asia Pacific is expected to witness substantial growth due to the increasing high geriatric population, and the developing economy is expected to be the driving factor of the optical lens materials market.
The Middle East & Africa (MEA) market is expected to grow at an average rate during the forecast period. Due to the sunny weather conditions in countries, such as Saudi Arab and Dubai, among others, people nowadays are using high-quality contact lenses as well as optical glasses, which is driving the consumption of optical lens materials in the regions.
Optical Lens Materials Market: Market Participants
Examples of some of the market participants in the optical lens materials market participants are:
Paragon Vision Sciences
Bausch & Lomb
Benz Research & Development
X-Cel Optical Company
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