Optical lens market size is set to grow by USD 6.12 billion from 2021 to 2026; Consumer electronics segment to account for maximum growth

NEW YORK, April 4, 2023 /PRNewswire/ — The global optical lens market size is estimated to grow by USD 6.12 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 6.96% during the forecast period. The market is segmented by end-user (consumer electronics, healthcare, life science, and others) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). For more insights on the market size (2022 to 2026) – Request a sample report

The market growth in the consumer electronics segment will be significant during the forecast period. The segment is primarily driven by the increased demand for optical lenses in consumer electronics. Also, the increasing sales of smartphones and the rising adoption of DSLR cameras have considerably contributed to the increased demand for optical lenses in the consumer electronics segment.

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Global Optical Lens Market – Geography Overview

The report provides actionable insights and estimates the contribution of all regions to the growth of the global optical lens market.

• North America will account for 32% of the market growth during the forecast period. The region is witnessing increased investments in R&D in defense to develop advanced night vision cameras and thermal imaging devices. In addition, the rising adoption of smartphones and the increasing demand for optical lenses in consumer electronics in the healthcare and life science industries are driving the growth of the optical lens market in North America.

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Global Optical Lens Market – Vendor Analysis

The global optical lens market is fragmented. The competition among vendors is moderate in the market owing to significant growth opportunities, the presence of major vendors, the entry of new vendors, technological innovations, and partnerships. Established vendors are launching products to maintain their market share. They are expected to acquire or enter into partnerships with small vendors to expand their product portfolios to enter emerging markets and increase their market shares. Some of the key vendors covered in the report include:

• Accurate Optics India
• Bausch Health Companies Inc.
• Carl Zeiss AG
• Cosina Co. Ltd
• Essilor International SAS
• HOYA Corp.
• Lensel Optics Pvt Ltd.
• Meade Instruments
• Menicon Co. Ltd.
• Nikon Corp.
• Olympus Corp.
• Thorlabs Inc.

Global Optical Lens Market – Market Dynamics

Key factor driving growth

• The growth of the market is driven by the growing popularity of dual-lens cameras in smartphones.
• The rising popularity of social media has increased the demand for smartphones with better camera features.
• Dual-lens-camera smartphones are increasingly becoming popular with the proliferation of social media applications that encourage users to click and share pictures.
• Many social media influencers are adopting dual-lens camera smartphones as professional photography equipment instead of spending on DSLR cameras.
• This has consequently encouraged many smartphone manufacturers to integrate high-quality cameras into their devices, which is driving the growth of the market in focus.

Leading trends influencing growth 

• The emergence of night vision devices with thermal imaging is identified as the key trend in the market.
• Night vision cameras and thermal imaging devices are extensively used by the military to locate a target in poor visibility conditions.
• However, these devices were earlier carried separately by soldiers. This increased the burden as they had to switch between these devices based on the requirement of the situation.
• To overcome such challenges, night vision device manufacturers are integrating thermal imaging technologies to enhance the capabilities of soldiers.
• For instance, in 2015, BAE Systems announced a new type of headset that combined night vision and thermal imaging technologies. The device allows soldiers to toggle between night vision and thermal imaging at the flick of a switch.
• Such developments are expected to positively influence the growth of the market during the forecast period.

Major challenges hindering growth

• Safety concerns associated with the use of contact lenses will challenge the growth of the market.
• The prolonged use of contact lenses could lead to eye infections such as pink eye (conjunctivitis), eye irritation, and corneal abrasions. The risk of these conditions increases if proper care is not taken for the lenses.
• The dust and chemicals that are caught on the lenses could cause severe damage to the cornea.
• Such concerns associated with the use of contact lenses will challenge the growth of the market.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this optical lens market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the optical lens market between 2022 and 2026
• Precise estimation of the size of the optical lens market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the optical lens market industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of optical lens market vendors

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Related Reports:

• The contact lens solutions market size is expected to increase by USD 398.57 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 3.18%. The market is segmented by distribution channel (retail stores and online stores) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
• The contact lens market in India will grow by USD 205.21 million from 2021 to 2026 at a CAGR of 7.75%. The market is segmented by product (frequent replacement lenses and daily disposable lenses) and distribution channel (online and offline).

Browse through Technavio’s Consumer Staples Market Report

Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis – Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by End-user

• 5.1 Market segments 
• Exhibit 24: Chart on End-user – Market share 2021-2026 (%)
• Exhibit 25: Data Table on End-user – Market share 2021-2026 (%)

• 5.2 Comparison by End-user 
• Exhibit 26: Chart on Comparison by End-user
• Exhibit 27: Data Table on Comparison by End-user

• 5.3 Consumer electronics – Market size and forecast 2021-2026
• Exhibit 28: Chart on Consumer electronics – Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Consumer electronics – Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Consumer electronics – Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Consumer electronics – Year-over-year growth 2021-2026 (%)

• 5.4 Healthcare – Market size and forecast 2021-2026
• Exhibit 32: Chart on Healthcare – Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Healthcare – Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Healthcare – Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Healthcare – Year-over-year growth 2021-2026 (%)

• 5.5 Life science – Market size and forecast 2021-2026
• Exhibit 36: Chart on Life science – Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Life science – Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Life science – Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Life science – Year-over-year growth 2021-2026 (%)

• 5.6 Other – Market size and forecast 2021-2026
• Exhibit 40: Chart on Other – Market size and forecast 2021-2026 ($ million)
• Exhibit 41: Data Table on Other – Market size and forecast 2021-2026 ($ million)
• Exhibit 42: Chart on Other – Year-over-year growth 2021-2026 (%)
• Exhibit 43: Data Table on Other – Year-over-year growth 2021-2026 (%)

• 5.7 Market opportunity by End-user 
• Exhibit 44: Market opportunity by End-user ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 46: Chart on Market share by geography 2021-2026 (%)
• Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 48: Chart on Geographic comparison
• Exhibit 49: Data Table on Geographic comparison

• 7.3 North America – Market size and forecast 2021-2026
• Exhibit 50: Chart on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on North America – Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on North America – Year-over-year growth 2021-2026 (%)

• 7.4 Europe – Market size and forecast 2021-2026
• Exhibit 54: Chart on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on Europe – Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Europe – Year-over-year growth 2021-2026 (%)

• 7.5 APAC – Market size and forecast 2021-2026
• Exhibit 58: Chart on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on APAC – Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on APAC – Year-over-year growth 2021-2026 (%)

• 7.6 South America – Market size and forecast 2021-2026
• Exhibit 62: Chart on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on South America – Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on South America – Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa – Market size and forecast 2021-2026 
• Exhibit 66: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)

• 7.8 US – Market size and forecast 2021-2026
• Exhibit 70: Chart on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on US – Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on US – Year-over-year growth 2021-2026 (%)

• 7.9 China – Market size and forecast 2021-2026
• Exhibit 74: Chart on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on China – Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on China – Year-over-year growth 2021-2026 (%)

• 7.10 Germany – Market size and forecast 2021-2026
• Exhibit 78: Chart on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on Germany – Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Germany – Year-over-year growth 2021-2026 (%)

• 7.11 UK – Market size and forecast 2021-2026
• Exhibit 82: Chart on UK – Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on UK – Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on UK – Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on UK – Year-over-year growth 2021-2026 (%)

• 7.12 France – Market size and forecast 2021-2026
• Exhibit 86: Chart on France – Market size and forecast 2021-2026 ($ million)
• Exhibit 87: Data Table on France – Market size and forecast 2021-2026 ($ million)
• Exhibit 88: Chart on France – Year-over-year growth 2021-2026 (%)
• Exhibit 89: Data Table on France – Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.3 Impact of drivers and challenges 
• Exhibit 91: Impact of drivers and challenges in 2021 and 2026

9 Vendor Landscape

• 9.2 Vendor landscape 
• Exhibit 92: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 93: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 94: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 95: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 96: Matrix on vendor position and classification

• 10.3 Accurate Optics India 
• Exhibit 97: Accurate Optics India – Overview
• Exhibit 98: Accurate Optics India – Product / Service
• Exhibit 99: Accurate Optics India – Key offerings

• 10.4 Bausch Health Companies Inc. 
• Exhibit 100: Bausch Health Companies Inc. – Overview
• Exhibit 101: Bausch Health Companies Inc. – Business segments
• Exhibit 102: Bausch Health Companies Inc. – Key news
• Exhibit 103: Bausch Health Companies Inc. – Key offerings
• Exhibit 104: Bausch Health Companies Inc. – Segment focus

• 10.5 Carl Zeiss AG 
• Exhibit 105: Carl Zeiss AG – Overview
• Exhibit 106: Carl Zeiss AG – Business segments
• Exhibit 107: Carl Zeiss AG – Key offerings
• Exhibit 108: Carl Zeiss AG – Segment focus

• 10.6 Cosina Co. Ltd 
• Exhibit 109: Cosina Co. Ltd – Overview
• Exhibit 110: Cosina Co. Ltd – Product / Service
• Exhibit 111: Cosina Co. Ltd – Key offerings

• 10.7 Lensel Optics Pvt Ltd. 
• Exhibit 112: Lensel Optics Pvt Ltd. – Overview
• Exhibit 113: Lensel Optics Pvt Ltd. – Product / Service
• Exhibit 114: Lensel Optics Pvt Ltd. – Key offerings

• 10.8 Meade Instruments 
• Exhibit 115: Meade Instruments – Overview
• Exhibit 116: Meade Instruments – Product / Service
• Exhibit 117: Meade Instruments – Key offerings

• 10.9 Menicon Co. Ltd. 
• Exhibit 118: Menicon Co. Ltd. – Overview
• Exhibit 119: Menicon Co. Ltd. – Product / Service
• Exhibit 120: Menicon Co. Ltd. – Key news
• Exhibit 121: Menicon Co. Ltd. – Key offerings

• 10.10 Nikon Corp. 
• Exhibit 122: Nikon Corp. – Overview
• Exhibit 123: Nikon Corp. – Business segments
• Exhibit 124: Nikon Corp. – Key news
• Exhibit 125: Nikon Corp. – Key offerings
• Exhibit 126: Nikon Corp. – Segment focus

• 10.11 Olympus Corp. 
• Exhibit 127: Olympus Corp. – Overview
• Exhibit 128: Olympus Corp. – Business segments
• Exhibit 129: Olympus Corp. – Key news
• Exhibit 130: Olympus Corp. – Key offerings
• Exhibit 131: Olympus Corp. – Segment focus

• 10.12 Thorlabs Inc. 
• Exhibit 132: Thorlabs Inc. – Overview
• Exhibit 133: Thorlabs Inc. – Product / Service
• Exhibit 134: Thorlabs Inc. – Key offerings

11 Appendix

• 11.2 Inclusions and exclusions checklist 
• Exhibit 135: Inclusions checklist
• Exhibit 136: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 137: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 138: Research methodology
• Exhibit 139: Validation techniques employed for market sizing
• Exhibit 140: Information sources

• 11.5 List of abbreviations 
• Exhibit 141: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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