Growing prevalence of diabetes will favor the global optical lens edger market growth between 2019 and 2026. According to projections made by the International Diabetes Federation, in 2017, around 425 million adults were affected by diabetes and by 2045, this number will rise to 629 million.
The WHO states that diabetes is the leading cause of eye-related disorders such as diabetic retinopathy, which progressively damages the patient’s retinal blood vessels. The Centers for Disease Control and Prevention (CDC) that more than 4 million Americans have diabetic retinopathy and about 40% of them are in danger of losing their eyesight. Increasing incidence rate of diabetes and related diseases will spike the demand for optical lens edger, expanding the global optical lens edger market size.
Browse Complete Report:
Fortune Business Insights identifies some of the major players in the global optical lens edger market:
- Coburn Technologies, Inc.
- Dia Optical Co.
- Nidek Co Ltd.
- MEI System
- Topcon Corporation
- Luneau Technology Group
- INNOVA Medical
In its report, titled “Optical Lens Edger Market Size, Share and Global Trend By Product (Manual Optical Lens Edger, Automatic Optical Lens Edger, Semi-Automatic Lens Edger), By Application (Eyeglass lens, Camera lens, Microscope lens) By End User (Hospitals, Eye Health Center, Research Institutes) and Geography Forecast till 2026,” Fortune Business Insights has provided a comprehensive overview of the market. It has also shared crucial analysis of the factors that will shape the market as well as the key developments that are expected with regard to the competitive landscape and regional dynamics during the course of the forecast period.
An optical lens edger is required in manufacturing units where optical lenses need to cut and shaped so that they can be fitted into different types of frames. Various types of optical lens edger systems can be availed, such as semi-automatic, manual, and automatic. All-in-one optical lens edger systems have also been developed which take care of grinding, polishing, edging, and drilling functions.
Unprecedented Rise in Incidence of Eye-related Disorders to Boost the Market
According to a joint study conducted by the Northern Illinois University and Bradley University in 2017, age-induced eye disorders such as macular degeneration, glaucoma, and cataract in adults above 40 years have risen by 25% since 2000 in the U.S. Furthermore, there has been an exponential rise of 89% of diabetic retinopathy in adults. Additionally, the Brien Holden Vision Institute Foundation estimates that by 2050, myopia will affect around 5 billion globally. A corresponding rise in demand for spectacles and lenses can be expected, signalling good news for the global optical lens edger market size which is set for steady expansion in the forecast period.
However, a key factor restraining the growth of the global optical lens edger market is the high cost of equipment.
Asia Pacific and Latin America to Emerge as Promising Regions; North America to Dominate
Latin America and Asia Pacific are anticipated to present the highly lucrative sales opportunities in the global optical lens edger market. This is mainly a result of widespread eye-related disorders in the two continents along with increasing prevalence of myopia that will boost the demand for lenses and spectacles. North America, however, is expected to hold a dominant portion of the global optical lens edger share during the forecast period owing to fast-growing adoption rate of spectacles and lenses. In Europe, the market for optical lens edger is expected to get an upward thrust with the growing prevalence eye disorders and diseases in the region.
Increasing Investment in R&D Activities to Intensify Competition
Focus on R&D to launch innovative products is the most preferred strategy being adopted by the key competitors in the global optical lens edger market to gain a competitive edge. For example, Essilor came out with its advanced optical lens edger, Delta2, in 2017, which features a new Place and Trace technology which makes the equipment more economic and efficient. A year later, in 2018, an all-in-one edger having a high performance drill, LEXCE Trend Pattern-less Edger was launched by Nidek Co Ltd.
Speak to Analyst:
View More Reports:
Infant Formula Market Size to Reach USD 103.75 Billion by 2026 | Fortune Business Insights
Sake Market to reach USD 10.47 Billion By 2026, Availability of the Product in Different Grade to Fuel Demand, says Fortune Business Insights
Bubble Tea Market: Global Size, Growth Factors, Top Leaders, Opportunities, Emerging Technologies and Regional Forecast to 2026