Lensmeter Market Size, Share, Growth, and Global Industry Growth, By Type (Manual Lensmeter and Automatic Lensmeter), By Application (Hospital, Eyeglass Manufacturers, Retail Opticians, And Others), Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2023 To 2030

Updated On: 15 May 2023

LENSMETER MARKET REPORT OVERVIEW

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The global lensmeter market size was USD 244.6 million in 2021 and is projected to touch USD 331.9 million by 2028, exhibiting a CAGR of 4.5% during the forecast period.

The sudden spike in CAGR is attributable to the lensmeter market growth and demand returning to pre-pandemic levels once the pandemic is over. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. Lensmeter is an instrument used by the opticians to prescribe the correct pair of eyeglasses to the customer. It is also known as a vertometer or foci meter. To properly detect and mark the uncut lenses and the correct mounting of lenses in the spectacles frame. It is also used in verifying the power of contact lenses. This instrument can measure the power and find the optical center of the convex lens. This instrument is used by doctors and eye specialists to detect the correct power for the lenses of eyeglasses.

COVID-19 Impact: Stringent Implementation of Lockdown to Impede Market Progress

The pandemic had a negative impact on the growth of the market. Stringent implementations of lockdown were imposed across the world, which affected the supply and production of the product. Production was directly affected, and the industry had to work with a minimum workforce. Additionally, transport was banned, which disrupted the market supply chain. The demand could not be fulfilled due to lesser production capacity. Pandemic proved to be a challenging year for the industry.

LATEST TRENDS

"Adoption of Automatic Lensmeter to Boost Market Growth"

The rising demand for easy and quick device coupled with their ability to provide measurements are expected to be the major factors driving growth in the market. Higher adoption of automatic lensmeters in the consumer and biomedical industries is anticipated to boost the global market in the forthcoming years. Escalated emphasis on the adoption of quick and easy to use device coupled with lesser operating errors is anticipated to support the market growth. 

LENSMETER MARKET SEGMENTATION

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• By Type Analysis

By type, the market is segmented into manual lensmeter and automatic lensmeter.

• By Application Analysis

Based on application, the market is classified into hospitals, eyeglass manufacturers, retail opticians, and others.

DRIVING FACTORS

"Growing Prevalence of Eye-Related Issues to Drive Market Growth"

The general population is opting for blue light glasses to avoid any harm of the UV rays on their eyes. Shifting towards technology leads to the higher adoption of technology such as mobiles, laptops, and other smart devices are anticipated to drive the market in coming years. Using these technologies, it may harm the eyesight of the user, and thus, the population is adopting blue light glasses as prevention. 

"Ever-Expanding Adoption of Advanced Technologies to Promote Growth"

The technological adoption and usage are expected to result in increasing number of cases of eyesight disorder, which may bolster growth in the market. Additionally, the rising eyesight issues in youngsters and elders are expected to boost the market growth. The young generation, and the elders, are diagnosed with cataracts, myopia, or hypermetropia. To deal with these vision conditions, spectacles are prescribed, and thus, the market is expected to boom. According to the World Health Organization (WHO), at least 2.2 billion people suffer from blindness or vision impairment, out of which at least 1 billion diagnose with vision impairment, which could have been prevented.  

RESTRAINING FACTORS

"Inability to Offer Lens Details to Limit Market Progress"

The lensmeter market share may be affected by its inability to offer the details of spectacles lenses such as lens form, center thickness, segment style, and others. This instrument cannot measure the focal length of any unknown lens. It can only measure the mean arterial focus, which may hinder the market growth. Additionally, this device does not measure the true focal length of a lens, which can be measured from the principal planes and not just from the surface of the lens. The dependency of the automatic device on operators for analyzing, reading, and variation in government regulations across regions is anticipated to hinder growth in the market. 

LENSMETER MARKET REGIONAL INSIGHTS

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"Steady Urbanization to Bolster Maximum Growth in Asia Pacific"

Asia Pacific is anticipated to account for the largest share of revenue due to steady industrialization and technological advancements in the industry. The region introduced automatic instruments which boosted the growth in market.

North America is expected to be the second-largest revenue generator in lensmeter market share. The growth of the region is attributable to the ever-rising demand for effective lenses. The demand for the device with higher objective measurements is anticipated to surge growth in the region.

KEY INDUSTRY PLAYERS

"Prominent players to launch automatic instruments to enhance product portfolio"

Key players emphasize launching advanced series of instruments to gain a competitive edge in the global market. Key companies are launching simple and easy-to-use auto devices to gain more customers in the market. Prominent players strive to grow consistently by adopting various strategies such as gaining collaboration and mergers. The key companies focus on developing strategies that offer long-term growth to the market. Companies are also expected to launch fully automatic products with advanced technology to ease the testing process of testing eyes.

List of Market Players Profiled

• Topcon (Japan)
• Nidek (Japan)
• Essilor (France)
• Takagi (Japan)
• Reichert (U.S.)
• Rexxam (Japan)
• Huvitz Co (South Korea)
• Carl Zeiss (Germany)
• Righton (China)
• Luneau Technology (France)
• Ningbo FLO Optical (China)
• Xinyuan High-Tech Center (China)
• Shanghai JingLian (China)

INDUSTRY DEVELOPMENT

• March 2022- SOLOS, an automatic analyzer of lenses, was introduced by Topcon Healthcare. This new lens analyzer enables advanced, error-free, and efficient analysis of lenses with a one-touch button. It is a multi-functional device used to simplify the workflow by combining a full-range spectrometer with a fully-automated device. The company introduced this analyzer to gain growth in the global market.

REPORT COVERAGE

The report covers the demographic analysis of the market, which shows the dominant regions existing in the global market. It also emphasizes the new strategic activities occurring in the market. The report also depicts the ongoing and upcoming opportunities for the lensmeter market growth. The recent developments are included in the report to offer insights into the market to our stakeholders. The report offers an all-inclusive compiled report of the market. The report on analysis of regions is also included, which covers the dominating region of the global market. The key companies and their headquarters are also mentioned in the report to provide detailed information about the major players existing in the market.