According to FutureWise analysis the market for optical lens edger in 2023 is US$ 0.47 billion, and is expected to reach US$ 0.82 billion by 2031 at a CAGR of 7.2%.
The factors responsible for increasing the optical lens edger market size are the increasing prevalence of eye diseases and growing concern for accuracy and precision in Opthalmology. The increasing cases of vision impairment are also accelerating the growth of the market. A major portion of vision-impared patients are of the age above 50. Hence, the rise in the geriatric population is proliferating the optical lens edgers market size. The market is segmented into by type, by application and region. On the basis of type, the semi-automatic optical lens is expected to dominate the growth of the market.
The growth of stand-alone eyeglass shops has resulted in the availability of semi-automatic lens at economical rates. All these factors have contributed to the growth of the market. On the basis of application, the camera lens is expected to hold vast share of the market. The rapid growth and expansion of camera industry are positively influencing the market. The increasing desire of people to opt for visual media and image sharing has led to an increase in demand for cameras, thus propelling the market. The increase in usage of social media to post pictures and videos has led to more demand for camera lens, thus increasing the optical lens edgers market share.
Based on regions, North America is the global leader of the market. An increase in geriatric population alongside presence of prominent players is boosting the presence of the market in the region. Asia-Pacific region is also seen as a lucrative region owing to the increasing prevalence of vision impedance. The rise of geriatric population in countries like Japan and China is also positively influencing the market.