Pune, India, Jan. 17, 2023 (GLOBE NEWSWIRE) -- The scleral lens market size was USD 208.4 million in 2020. The market is projected to grow from USD 240.2 million in 2021 to USD 646.8 million in 2028 at a CAGR of 15.2% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, "Scleral Lens Market, 2021-2028." Factors such as the rising prevalence of ocular disorders and improving favorable reimbursement policies will boost the growth of the market during the forecast period. Additionally, rising technological developments will increase the footprint of the market.
Key Industry Development:
April 2020: BostonSight announced they were expanding their BostonSight SCLERAL lens offering by offering new lenses of 16mm, 16.5mm, and 17mm diameter. These product ranges are expected to be integrated as part of their triple-FitKit diagnostic set.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 15.2% |
| 2028 Value Projection | USD 646.8 Million |
| Base Year | 2020 |
| Scleral Lens Market Size in 2020 | USD 208.4 Million |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 114 |
Key Takeaways For Scleral Lens Market
- The growing number of contact lens wearers should also boost demand for scleral lenses.
- Increased innovation in product development increases market footprint.
- The eye clinic segment dominated the global market in 2020 with significant CAGR expected.
- Asia-Pacific market is expected to register the highest CAGR during the forecast period.
- The eye clinic Market in North America created revenue of USD 85.7 million in 2020.
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Drivers and Restraints:
Growing Prevalence of Ocular Diseases Will Bolster Market Growth During Forecast
Factors such as the increasing number of patients suffering from ocular disorders including keratoconus, dry eye syndrome, and uncorrected refractive errors will boost the scleral lens market growth during the forecast period. Patients residing in developing & developed economies are shifting towards advanced eyecare solutions, which will trigger an incremental increase in volume. Rising innovations in product development will increase the footprint of the market.
However, a higher cost of lenses will hinder the growth of the market during the forecast period.
Segments:
Based on type, the market can be divided into mini and large.
By end-user, the market can be broken down into hospital, eye clinic, and others.
In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Report Coverage:
The market report contains a comprehensive analysis by encompassing critical factors including competitive analysis, company profiles, the impact of COVID-19, and its accompanying segments & subsegments. The ongoing industry trends and key market insights are also presented in the report. Additionally, factors that are expected to impact the market in a significant manner are also provided.
Regional Insights:
North America to Exert Dominance Owing to Rising Adoption of Scleral Lenses
North America is expected to occupy the largest scleral lens market share during the forecast period due to expanding patient pool and increasing focus of dominant players on expanding their product portfolio. Additionally, increasing adoption of lenses among contact lenses users and rising mergers & strategic collaborations will fuel the growth of the market in the region.
The Asia Pacific will witness the highest CAGR growth owing to the increasing number of post-LASIK/post radial keratotomy patients and the increasing number of patients shifting towards scleral lenses.
Europe will hold a considerable market share in terms of global contribution owing to the rising number of patients wearing contact lenses and increasing demand for products due to the increasing prevalence of dry eye.
Competitive Landscape:
Leading Players to Dominate Market due to Product Development & Expanding Portfolio
This sector is considered to be highly consolidated due to the many players present in the market. Players such as Bausch Health Companies Inc., Essilor, and ABB Optical Group are dominating the market and occupied more than 55% market share in 2020. Players are focused on employing strategic tactics including mergers & acquisitions, collaborations, and launching novel products. For example, in January 2019, CooperVision announced that they acquired Blanchard Lab for expanding their portfolio. They further announced partnering with a wide range of eye care professionals (ECPs). Other players are focused on developing novel products to gain a competitive edge over their competition.
List of Key Players Mentioned in the Report:
- Bausch Health Companies Inc. (Canada)
- Essilor (France)
- ABB Optical Group (U.S.)
- Blanchard Lab (U.S.)
- Art Optical Contact Lens, Inc. (U.S.)
- Visionary Optics (U.S.)
- BostonSight (U.S.)
- TruForm Optics Inc. (U.S.)
- SynergEyes (U.S.)
- AccuLens (U.S.)
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Major Table of Contents:
- North America Scleral Lens Market Revenue Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Revenue Analysis, Insights and Forecast – By Type
- Mini
- Large-Scleral Lenses
- Market Revenue Analysis, Insights and Forecast – By End User
- Hospital
- Eye Clinic
- Others
- Market Revenue Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Europe Scleral Lens Market Revenue Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Revenue Analysis, Insights and Forecast – By Type
- Mini
- Large-Scleral Lenses
- Market Revenue Analysis, Insights and Forecast – By End User
- Hospital
- Eye Clinic
- Others
- Market Revenue Analysis, Insights and Forecast – By Country/ Sub-region
- U.K.
- France
- Germany
- Italy
- Russia
- Rest of Europe
- Asia pacific Scleral Lens Market Revenue Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Revenue Analysis, Insights and Forecast – By Type
- Mini
- Large-Scleral Lenses
- Market Revenue Analysis, Insights and Forecast – By End User
- Hospital
- Eye Clinic
- Others
- Market Revenue Analysis, Insights and Forecast – By Country/ Sub-region
- China
- Japan
- South Korea
- India
- Australia
- Taiwan
- Indonesia
- Thailand
- Malaysia
- Rest of Asia Pacific
- Latin America Scleral Lens Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Revenue Analysis, Insights and Forecast – By Type
- Mini
- Large-Scleral Lenses
- Market Revenue Analysis, Insights and Forecast – By End User
- Hospital
- Eye Clinic
- Others
- Market Revenue Analysis, Insights and Forecast – By Country/ Sub-region
- Mexico
- Brazil
- Argentina
- Rest of Latin America
TOC Continued…!
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