Single Vision Lenses Market Size to Hit $ 9.5 Billion by 2030 - Zion Market Research

According to Zion Market Research, the global single vision lenses market size is projected to reach USD 9.5 billion by 2030 from its value of USD 7.2 billion in 2022, at a CAGR of 3.46% during the forecast period.

NEW YORK, United States, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Single Vision Lenses Market By Type (Spherical, Aspherical, And Freeform), By Material (Glass, Polycarbonate, And Other Material Types), By Age Group (< 18 Years, >= 18 Years & < 40 Years, And >= 40 Years), By Application (Hyperopia (Farsightedness), Myopia (Nearsightedness), Astigmatism, And Presbyopia), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the global single vision lenses market size was valued at about USD 7.2 billion in 2022. The market is expected to grow at a CAGR of 3.46% and is anticipated to reach USD 9.5 billion by 2030.”

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Single Vision Lenses Market Overview:

People with the following eye conditions use single-vision lenses: myopia, hyperopia, astigmatism, and presbyopia. These lenses provide clearer and more comfortable vision, as well as a broader field of view. These lenses have a solitary optical correction. Additionally, single-vision lenses equitably distribute focus across the entire surface area. Consequently, these lenses are manufactured with a constant focal power to rectify a single vision issue.

Myopia, also known as nearsightedness, is a common vision disorder in which distant objects appear blurry but close targets appear distinct. Hyperopia, also known as farsightedness, is an example of a refractive error in which objects at a distance appear distinct but those up close appear blurry. In addition to astigmatism and presbyopia, refractive errors include astigmatism and presbyopia. These lenses are worn by all age groups, including children, adolescents, adults, and the elderly.

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• Includes Tables and figures have been updated
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Report Scope:

Report Attribute	Report Details
Market Size in 2022	USD 7.2 Billion
Market Forecast in 2030	USD 9.5 Billion
Growth Rate	CAGR of 3.46%
Base Year	2022
Forecast Years	2023- 2030
Key Companies Covered	Bod Lenses, Carl Zeiss AG, CHEMIGLAS CORP., EssilorLuxottica, GKB OPHTHALMICS LTD., HOYA, Jiangsu Aogang Optical Glasses Co. Ltd., JIANGSU HONGCHEN OPTICAL CO LTD., Nikon Corporation, Pordason Optical, Privo, Rhein Vision, RODENSTOCK GMBH, SEED Co. Ltd., SEIKO OPTICAL PRODUCTS CO. LTD., Shamir Ltd., Shanghai Conant Optical Co. Ltd., Shanghai Mingyue Glasses Co. Ltd., TOG USA, VISION EASE, Wanxin Optical Group Co. Ltd. (WANXIN), and others.
Segments Covered	By Type, By Material, By Age Group, By Application, and By Region
Regions Covered	North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Customization Scope	Avail customized purchase options to meet your exact research needs.

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Key Insights from Primary Research

• The global single-vision lenses market is projected to grow at a significant rate due to the increasing vision problems, across the globe.
• Based on type segmentation, spherical were predicted to show maximum market share in the year 2022.
• Based on material segmentation, polycarbonate was the leading revenue generator in 2022.
• Based on age group segmentation, >= 18 Years & < 40 Years was predicted to show maximum market share in the year 2022.
• Based on application segmentation, myopia (nearsightedness) was the leading revenue-generating application in 2022.
• On the basis of region, Asia Pacific was the leading revenue generator in 2022.

Single Vision Lenses Market: Growth Drivers

• Increasing vision problems globally to drive market growth during the forecast period.

The global market for single-vision lenses is anticipated to expand due to the worldwide increase in vision problems. Single-vision lenses are used to rectify eye conditions like hyperopia, myopia, astigmatism, and presbyopia. According to the World Health Organization (WHO), over 2,2 billion individuals have impaired near or far vision. Approximately one billion suffer from a preventable or unaddressed vision impairment.

Refractive errors and other causes contribute to significant visual impairment. There were approximately 88.4 million persons with refractive error among these 1 billion people. Refractive errors, the most common cause of visual impairment, can be entirely compensated with eyeglasses or contact lenses. According to the WHO, only about 36% of individuals with far vision impairment due to refractive error have access to an appropriate treatment.

Single Vision Lenses Market: Restraints

• Rising incidences of multiple refractive errors in a person to restrict market expansion

Various lenses, including bifocal, trifocal, and progressive lenses, are utilized to simultaneously correct multiple refractive defects in a single individual. Multifocal lenses (progressive lenses) are used to see distinctly at near, intermediate, and far distances while wearing the same pair of glasses. Furthermore, in bifocal and trifocal eyeglasses, there is a clear distinction between the near and far portions of the prescription. In bifocal and trifocal glasses, the change in prescription is more abrupt, whereas in multifocal lenses (progressive lenses), the transition is gradual. Those over the age of 40 have multiple refractive errors simultaneously. All of these trends and the use of other lens types inhibit the expansion of the single-vision lens market.

Browse the full “Single Vision Lenses Market By Type (Spherical, Aspherical, And Freeform), By Material (Glass, Polycarbonate, And Other Material Types), By Age Group (< 18 Years, >= 18 Years & < 40 Years, And >= 40 Years), By Application (Hyperopia (Farsightedness), Myopia (Nearsightedness), Astigmatism, And Presbyopia), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/single-vision-lenses-market

Single Vision Lenses Market: Segmentation

The global single-vision lens market is segmented based on type, material, age group, application, and region.

Based on type, the global market segments are spherical, aspherical, and freeform. Currently, the global market is dominated by spherical single-vision lenses, considering their low price compared to freeform & aspheric lenses.

Based on material, the single-vision lens industry is segmented into glass, polycarbonate, and other material types (urethane-based pre-polymer, etc.). The polycarbonate segment dominated the market share in 2022.

Based on age group, the global market segments are < 18 years, >= 18 years & < 40 years, and >= 40 years. Currently, the global market is dominated by >= 18 years & < 40 years age group. Single-vision lenses are commonly used to correct vision in adult people (>= 18 Years & < 40 Years) with single-eye conditions such as myopia, hyperopia, and astigmatism

Based on the application, the global single-vision lenses market segments are hyperopia (farsightedness), myopia (nearsightedness), astigmatism, and presbyopia. Currently, the single-vision lens industry is dominated by the myopia (nearsightedness) segment.

Regional Analysis:

The global single-vision lenses market growth is expected to be driven by Asia Pacific, during the forecast period. According to the World Health Organization (WHO), Asia-Pacific (high-income region) had the highest prevalence of myopia at approximately 53.4%. East Asia accounted for 51.6%, while China and South Korea reported high rates of 67% and 97%, respectively, among urban adolescents. In addition, as of October 2021, approximately 52.7% of children and adolescents in China were myopic, according to a study published in August 2022 by the National Library of Medicine (United States).

In Europe, according to the World Health Organization (WHO), the prevalence of near vision impairment was reported to be around 10% only in Western Europe. Apart from near vision impairment, far vision impairments are also commonly reported in the region. Some of the key manufacturers of single-vision lenses in Europe are Carl Zeiss AG, EssilorLuxottica, RODENSTOCK GMBH, Bod Lenses, Rhein Vision, and others.

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Competitive Players:

The report contains qualitative and quantitative research on the global Single Vision Lenses market, as well as detailed insights and development strategies employed by the leading competitors.

Some of the main players in the global Single Vision Lenses market include;          

• Bod Lenses
• Carl Zeiss AG
• CHEMIGLAS CORP.
• EssilorLuxottica
• GKB OPHTHALMICS LTD.
• HOYA
• Jiangsu Aogang Optical Glasses Co., Ltd.
• JIANGSU HONGCHEN OPTICAL CO,LTD.
• Nikon Corporation
• Pordason Optical
• Privo
• Rhein Vision
• RODENSTOCK GMBH
• SEED Co., Ltd.
• SEIKO OPTICAL PRODUCTS CO., LTD.
• Shamir Ltd.
• Shanghai Conant Optical Co., Ltd.
• Shanghai Mingyue Glasses Co., Ltd.  
• TOG USA
• VISION EASE
• Wanxin Optical Group Co., Ltd. (WANXIN)

The global Single Vision Lenses market is segmented as follows:

By Type

• Spherical
• Aspherical
• Freeform

By Material

• Glass
• Polycarbonate 
• Other Material Types (Urethane-based Pre-polymer), etc.)

By Age Group

• < 18 Years
• >= 18 Years & < 40 Years
• >= 40 Years

By Application

• Hyperopia (Farsightedness)
• Myopia (Nearsightedness)
• Astigmatism
• Presbyopia

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Southeast Asia
• The Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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Key questions answered in this report:

• What is the market size and growth rate forecast for Single Vision Lenses industry?
• What are the main driving factors propelling the Single Vision Lenses Market forward?
• What are the leading companies in the Single Vision Lenses Industry?
• What segments does the Single Vision Lenses Market cover?

• How can I receive a free copy of the Single Vision Lenses Market sample report and company profiles?

Key Offerings:

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market

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