The Europe Optical Lens Market would witness market growth of 7.7% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 23,062.2 thousand Units, showcasing a growth of 7.8% (2019-2022).
The adoption of optical lenses has witnessed a steady increase over the years, driven by technological advancements, changing consumer preferences, and evolving industrial requirements. Advances in optical design, materials, and manufacturing techniques have led to the development of highly efficient and compact optical lenses. These innovations have facilitated the integration of lenses into smaller devices and systems while improving optical performance. In the healthcare sector, the growing awareness of eye health and the prevalence of vision-related issues have fueled the adoption of optical lenses for vision correction and eye care. Regular eye check-ups and the use of corrective lenses have become commonplace.
Moreover, the rapid growth of the consumer electronics sector, particularly smartphones and digital cameras, has led to a surge in the demand for compact and high-quality optical lenses. Consumers now expect advanced camera capabilities and AR/VR features in their devices. Industries such as manufacturing and automotive have embraced automation and robotics. Optical lenses are crucial in vision systems for quality control, defect detection, and precision manufacturing.
Rising eye disorders in Europe have become a matter of concern and are associated with several contributing factors. Europe has a rapidly aging population, with a significant portion of its residents aged 60 and above. Many eye disorders, such as cataracts and age-related macular degeneration, become more common with age, leading to an increased burden on eye health services. As per a report titled Eye Health Needs an Assessment by Public Health England, sight loss is an important public health issue, affecting about 2 million people in the United Kingdom. Analysis in 2009 predicted that this number is expected to double to 4 million by 2050. This increase is almost wholly attributable to an aging population, with over 80% of sight loss occurring in people aged over 60 years. These factors will help expand the market in Europe.
The Germany market dominated the Europe Optical Lens Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,717.1 million by 2030. The UK market is exhibiting a CAGR of 6.8% during (2023 - 2030). Additionally, The France market would experience a CAGR of 8.6% during (2023 - 2030).
Based on Type, the market is segmented into Converging and Diverging. Based on Application, the market is segmented into Smartphones, Camera, Automotive, Medical Surgery, AR/VR/Headsets or Mounted Display and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Optical Lens Market will Hit $30 Billion by 2030, at a CAGR of 8.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sony Corporation (Sony Electronics, Inc.), Carl Zeiss AG, Sunny Optical Technology (Group) Company Limited, Tamron Co., Ltd., Canon, Inc., Fujifilm Holdings Corporation, Largan Precision Co., Ltd., Nikon Corporation, Genius Electronic Optical Co., Ltd and Sigma Corporation.
By Type (Volume, thousand Units, USD Million, 2019-2030)
By Application (Volume, thousand Units, USD Million, 2019-2030)
By Country (Volume, thousand Units, USD Million, 2019-2030)
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