The global photochromic lenses market size reached US$ 6.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 10.7 Billion by 2032, exhibiting a growth rate (CAGR) of 5.3% during 2024-2032. The increasing prevalence of various eye disorders, such as corneal damage, macular degeneration and cataracts, and the rising demand for corrective lenses to improve several vision-related ailments represent some of the key factors driving the market.
Market Size in 2023
|US$ 6.6 Billion
Market Forecast in 2032
|US$ 10.7 Billion
|Market Growth Rate 2024-2032
Photochromic lenses represent a type of optical and transition lens that are translucent inside and get darken when exposed to radiant energies and ultraviolet (UV) rays. They encompass dispersed silver halide microcrystals in a glass substrate that creates a colored center, which is activated under the presence of visible short-wave radiation. They are manufactured with various materials, including plastic, glass, and polycarbonate. These raw materials are placed below the lens through imbibing and trans-bonding, which provide uniform color regardless the differences in the thicknesses due to the lens prescriptions. Photochromic lenses help in reducing eye strain and damage, decrease the heightened risk of cataracts and offer optimal convenience at cost-effective rates. Consequently, photochromic lenses are extensively deployed in multiple pairs of sunglasses and regular glasses to protect from UV and ultraviolet B (UVB) radiations. At present, they are commercially available in varying hues, including blue, gray, and brown.
Photochromic Lenses Market Trends:
The increasing prevalence of various eye disorders, such as corneal damage, macular degeneration, and cataracts, especially amongst the geriatric population, due to exposure to UV and UVB radiations, represents a prime factor driving the market growth. Additionally, the rising demand for corrective lenses to improve several vision-related ailments, including diabetic retinopathy and degenerative macula, has facilitated the large-scale incorporation of photochromic lenses in sunglasses, which is acting as another growth-inducing factor. In line with this, the extensive product usage in ophthalmology diagnostics for the indication and treatment of visual loss, watery loss, and refractive errors is supporting the market growth. Additionally, the advent of bifocal and progressive lenses with the power to protect eyes from harmful radiations and their growing acceptance by consumers owing to their multiple benefits, including easy utilization, cost-effectiveness, and simple adjustments, are favoring the market growth. Moreover, significant technological advancements, such as the widespread employment of high-performance solutions to compose photochromic lenses with blue light filtering features for glasses, are propelling the market growth. This is further influenced by the continuous development of variable tint photochromic lenses that adapt to match changeable lighting conditions. Apart from this, the product availability across various distribution channels, such as online and retails and the extensive investments in research and development (R&D) activities are positively impacting the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global photochromic lenses market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on material, technology, application and sales channel.
The report has also provided a detailed breakup and analysis of the photochromic lenses market based on the material. This includes glass, polycarbonate and plastic. According to the report, plastic represented the largest segment.
- UV and Visible Light
- Imbibing and Trans-bonding
- In Mass
A detailed breakup and analysis of the photochromic lenses market based on the technology has also been provided in the report. This includes UV and visible light, imbibing and trans-bonding, in mass and others. According to the report, UV and visible light accounted for the largest market share.
The report has also provided a detailed breakup and analysis of the photochromic lenses market based on the application. This includes corrective and preventive. According to the report, corrective represented the largest segment.
Sales Channel Insights:
- Specialty Clinics
A detailed breakup and analysis of the photochromic lenses market based on the sales channel has also been provided in the report. This includes specialty clinics, online and others. According to the report, specialty clinics accounted for the largest market share.
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa.According to the report, North America was the largest market for photochromic lenses. Some of the factors driving the North America photochromic lenses market included the increasing prevalence of various eye disorders, the rising demand for corrective lenses to improve several vision-related ailments, and extensive research and development (R&D) activities to introduce better and more effective product variants.
The report has also provided a comprehensive analysis of the competitive landscape in the global photochromic lenses market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Carl Zeiss AG, Corning Incorporated, EssilorLuxottica SA, Hoya Corporation, Optiswiss AG, Seiko Optical Products Co. Ltd. Vision Dynamics LLC, etc.Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
||Glass, Polycarbonate, Plastic
||UV and Visible Light, Imbibing and Trans-bonding, In Mass, Others
|Sales Channels Covered
||Specialty Clinics, Online, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Carl Zeiss AG, Corning Incorporated, EssilorLuxottica SA, Hoya Corporation, Optiswiss AG, Seiko Optical Products Co. Ltd. Vision Dynamics LLC, etc.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the global photochromic lenses market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global photochromic lenses market?
- What are the key regional markets?
- Which countries represent the most attractive photochromic lenses markets?
- What is the breakup of the market based on the material?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the sales channel?
- What is the competitive structure of the global photochromic lenses market?
- Who are the key players/companies in the global photochromic lenses market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the photochromic lenses market from 2018-2032.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global photochromic lenses market.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the photochromic lenses industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.