Optical Lens Edger Market Growth, Trends and Forecast 2022-2031
Optical Lens Edger Market Outlook 2031
- The global optical lens edger market was valued at US$ 411.4 Mn in 2021
- The global market is projected to grow at a CAGR of 7.00% from 2022 to 2031
- The global optical lens edger market is anticipated to reach more than US$ 812.8 Mn by 2031
Optical Lens Edger Market Introduction
Optical edger is a part of optical manufacturing equipment that edges, cuts, or grinds optical lenses so that they can fit into the selected frame. Different types of edging mode are automated beveling, controlled beveling, EX lens edging, rimless edging, automated grooving, and controlled grooving. Lens materials used for edging are plastic, glass, high-index plastic, acrylic resin, and polycarbonate. Currently, edging systems are available in an all-in-one type, which includes edging, blocking, drilling, grooving, and tracing in a single unit.
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The global optical lens edger market forecast appears promising due to the rise in demand for optical lens edger in ophthalmology and camera industries. Around 1.3 billion individuals across the world live with some type of vision impairment. With respect to distance vision, 188.5 million individuals have gentle vision impairment, 217 million have moderate to serious vision disability, and 36 million individuals are blind. Around 826 million individuals live with a close vision disability. Overall, the primary causes of vision debilitation are uncorrected refractive mistakes and waterfalls. Around 80% of all vision hindrance internationally is viewed as avoidable.
COVID-19 Impact on Global Optical Lens Edger Market
The COVID-19 pandemic has had a negative effect on the global optical lens edger market. Governments of affected countries deferred non-essential surgeries and patient visits during the breakout year of the COVID-19. This led to a substantial decline in overall non-emergency treatments, which in turn restricted the usage of optical lens edger in vision impairment. Several manufacturing plants came to a grinding halt and consumer spending declined considerably during COVID-19 induced lockdowns. This also hampered the prospects of the optical lens market. Key players reported decline in revenue during the pandemic. Nevertheless, over the past few months, economic activities have started to pick up pace in several parts of the world, paving the way for new growth momentum in the optical lens market. Technologically advanced equipment has grabbed the attention of end-use industries, especially among in-office lens finishing labs.
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Convenience and Affordability Driving Semi-automatic Lens Edger Segment
In terms of type, the semi-automatic lens edger segment accounted for significant global optical lens edger market share in 2021. Semi auto lens edger machine is more affordable than automatic optical lens edger. It is also more effective in terms of precision cutting than manual lens edger. Therefore, convenience and affordability make semi auto lens edger machine more preferable in standalone eyeglass shops, which form the largest user base for lens edgers. However, improvement in pricing scenario is expected to lead to a rise in demand for automatic lens edger devices. Furthermore, the automatic lens edger segment is expected to grow at a rapid pace during the forecast period. This can be ascribed to the advent of technology and availability of automatic lens edger with better precision.
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Usage as First-line Treatment for Vision Disorders Propelling Eyeglass Lens Segment
Based on application, the eyeglass lens segment accounted for major share of the global market in 2021. The trend is projected to continue during the forecast period. The eyeglass lens segment is anticipated to grow at a rapid pace during the forecast period. Eyeglass lens edgers are used significantly in the processing of eyeglasses. In terms of volume, eyeglasses are the most common ophthalmic products used globally, and is also the first line of treatment for vision disorders. Specialty sunglasses and eyeglasses can be used by people of different ages, making them suitable for everyone. The camera lens market is likely to grow at a rapid pace during the forecast period, as the image sector expands at consumer and industrial levels. Professionals and amateurs are using digital cameras more frequently considering the rise in importance of capturing and sharing images across several fields.
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Analysis of Key Players in Global Optical Lens Edger Market
The report includes vital information about the leading players in the global optical lens edger market. A small number of companies hold the majority share of the global optical lens edger market. Several players are focusing on strategies such as new product launches, divestiture, mergers & acquisitions, and partnerships to strengthen their position in the market. Essilor International S.A., Topcon Corporation, NIDEK CO., LTD., INNOVA Medical Ophthalmics, Inc., Coburn Technologies Inc., Huvitz Corp., Mei Srl, Santinelli International, and Shanghai Supore Instruments Co. Ltd. are the prominent players operating in the global market.
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Key Developments in Global Optical Lens Edger Market
- In July 2021, Topcon Corporation, a Japan-based ophthalmic solution provider, announced that it had acquired VISIA Imaging S.r.l, an ophthalmic device manufacturer headquartered in suburban Florence, Italy. VISIA Imaging S.r.l specializes in design, development, and manufacture of anterior segment examination hardware and software. The acquisition enhances Topcon’s development and manufacturing capabilities in anterior segment devices and software, which complements the company’s strong portfolio of fundus imaging devices that includes fundus cameras and optical coherence tomography (OCT).
- In October 2020, Topcon Corporation announced the completion of a new factory for its subsidiary Topcon Optonexus Co., Ltd. in order to expand production capacity of optical components
Each of these players has been profiled in the optical lens edger market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
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