Single Vision Lenses Market Size, Share, Growth, Forecast 2030

Single Vision Lenses Industry Prospective:

The global single-vision lenses market size was worth around USD 7.2 billion in 2022 and is predicted to grow to around USD 9.5 billion by 2030 with a compound annual growth rate (CAGR) of roughly 3.46% between 2023 and 2030.

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Single Vision Lenses Market: Overview

Single-vision lenses are used by people with the following eye issues, including myopia, hyperopia astigmatism, and presbyopia. These lenses offer sharper & comfortable vision, with a wider field of view. These lenses have just a single optical prescription correction. Moreover, single-vision lenses distribute focus evenly over the entire surface area. Thereby, these lenses are made for one, consistent focal power to correct a single vision problem.

Myopia, also known as nearsightedness, is a common vision condition in which near targets appear clear but objects with farther distance appear blurry. Hyperopia, also known as farsightedness, is an example of refractive errors, in which far objects appear clear but near objects look blurry. Astigmatism & presbyopia is also an example of refractive errors. These lenses are used by every age group peoples, including, kids, teens, adults, and senior citizens.

Single-vision lenses are, mainly, based on plastic (polycarbonate, etc.) & glass. Single-vision lenses with high-quality coatings are used to prevent strain on the eye, caused by prolonged screen time on digital devices. Moreover, single-vision lenses with an aspheric surface design offer good visual quality and are recommended for lens wearers with high prescriptions. According to Carl Zeiss AG, around 75% of global lens sales accounted for single-vision lenses. Rising eye problems, across the globe, are likely to fuel the demand for the single-vision lens industry.

Key Insights

• As per the analysis shared by our research analyst, the global single-vision lenses market is estimated to grow annually at a CAGR of around 3.46% over the forecast period (2023-2030).
• In terms of revenue, the global single-vision lenses market size was valued at around USD 7.2 billion in 2022 and is projected to reach USD 9.5 billion, by 2030.
• The global single-vision lenses market is projected to grow at a significant rate due to the increasing vision problems, across the globe.
• Based on type segmentation, spherical were predicted to show maximum market share in the year 2022.
• Based on material segmentation, polycarbonate was the leading revenue generator in 2022.
• Based on age group segmentation, >= 18 Years & < 40 Years was predicted to show maximum market share in the year 2022.
• Based on application segmentation, myopia (nearsightedness) was the leading revenue-generating application in 2022.
• On the basis of region, Asia Pacific was the leading revenue generator in 2022.

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Single Vision Lenses Market: Growth Drivers

Increasing vision problems globally to drive market growth during the forecast period.

The global single-vision lenses market is projected to grow owing to the increasing vision problems, worldwide. Single-vision lenses are used to correct eye problems such as hyperopia (farsightedness), myopia (nearsightedness), astigmatism, and presbyopia. According to the World Health Organization (WHO), more than 2.2 billion people have a near or far vision impairment. Out of which, around 1 billion have an eyesight impairment that could have been prevented or is yet to be addressed. The reasons for major vision impairment include refractive errors and others. Among these 1 billion people, the number of people with refractive error accounted for around 88.4 million. The most frequent cause of visual impairment, i.e., refractive errors, can be fully compensated with the aid of eyeglasses or contact lenses. As per WHO, only around 36% of people with far vision impairment due to refractive error have received access to a suitable remedy.

According to the WHO, the occurrence of distance vision impairment in low- & middle-income countries was estimated to be four times greater than in high-income countries. In the case of near vision, low-income regions such as western, eastern & central sub-Saharan African regions accounted for around 80% of unaddressed near vision impairment. However, high-income regions such as North America, Asia-Pacific, and Western Europe accounted for less than 10% of unaddressed near vision impairment.

In July 2023, Carl Zeiss AG announced an investment of around INR 25 billion for a new lens plant (including single-vision lenses, etc.) in Bengaluru, Karnataka, India. The expected production capacity for the plant is estimated to be 60,000 prescription lenses per day, increasing its current capacity (10,000 prescription lenses per day) by 6 times. The manufacturing at the plant is expected to start by October 2024. Currently, the company exports around 75% of its produced spectacle blank & prescription lenses in India, and the rest (25%) are being used for catering to domestic demand.

According to the American Academy of Ophthalmology, over 34 million people in the United States with age group 40 & older have myopic impairment. Whereas over 14.2 million people, in the age group 40 & older, in the United States have hyperopic impairment. Furthermore, as per the German Quality Association for Optometric Services, around 15% of children in Europe have a high chance of myopic disorder.

Growing population & aging, along with increasing per capita income are expected to increase the demand for single-vision lenses for various impairment corrections.

Single Vision Lenses Market: Restraints

Rising incidences of multiple refractive errors in a person to restrict market expansion

Various lenses such as bifocal, trifocal, and progressive lenses are used to correct multiple refractive errors in a single person at the same time. Multifocal lenses (progressive lenses) are used to look at objects clearly at near, intermediate, and far distances with the same spectacles. Moreover, in bifocal & trifocal spectacles, there is a distinct boundary between the close-up & distant parts of the prescription. In bifocal & trifocal spectacles, there is a harsher change of prescription, however, in the multifocal lens (progressive lens), there is a gradual transition of prescription. The age group of 40 years and more have multiple refractive errors at the same time. All such trends and the usage of other lens types are hindering the growth of the single-vision lens industry.

Single Vision Lenses Market: Opportunities

Increasing innovations in the single-vision lens industry to provide growth opportunities

In the current single-vision lenses industry, firms have started offering innovative freeform single-vision lenses, owing to their rising demand from eyeglass wearers. Freeform lenses are extremely flat & thin while providing outstanding optical quality to provide clear vision from the lens center to the periphery. Freeform lens design improves the optics & aesthetics of the finished single-vision lenses category.

According to Carl Zeiss AG, the freeform lens design includes point-by-point optimization with the employment of more than 700 free parameters across the lens, compared to 9 parameters for double aspherical, 5 parameters for spherical, and 1 parameter for spherical. Carl Zeiss AG’s freeform lens design combined with its ClearForm technology is being used in recently launched ZEISS ClearView finished single-vision (FSV) lenses.

In September 2022, HOYA released MySV single-vision lenses with 360° Visual Comfort in its product portfolio of free-form single-vision lenses. As per the firm, conventional single-vision lenses correct vision efficiently, mostly, at the lens center, however, its MySV single-vision lenses can be able to 360° visual comfort. All the above-mentioned factors are expected to act as an opportunity for the growth of the single-vision lens industry.

Single Vision Lenses Market: Challenges

Cost-ineffective due to single vision correction to challenge market cap growth

A person with multiple refractive errors may need to purchase more than one pair of single-vision prescription lenses as they have multiple eye conditions. In addition, if the person has a strong prescription or astigmatism, the cost can increase significantly for different pairs of spectacles. A single pair of bifocal lenses can cost more than a single pair of single-vision lenses. However, the cost of a single pair of bifocal lenses is less than that of two pairs of single-vision lenses of different prescriptions. Thereby, the cost-ineffectiveness of single-vision lenses acts as a challenge to the growth of the single-vision lens market.

Single Vision Lenses Market: Segmentation

The global single-vision lens market is segmented based on type, material, age group, application, and region.

Based on type, the global market segments are spherical, aspherical, and freeform. Currently, the global market is dominated by spherical single-vision lenses, considering their low price compared to freeform & aspheric lenses.

Based on material, the single-vision lens industry is segmented into glass, polycarbonate, and other material types (urethane-based pre-polymer, etc.). The polycarbonate segment dominated the market share in 2022. According to ESSILOR OF AMERICA, INC., polycarbonate lenses are lightweight compared to regular plastic lenses and offer good impact resistance. Generally, these lenses are 30% lighter & 20% thinner than standard plastic lenses.

Based on age group, the global market segments are < 18 years, >= 18 years & < 40 years, and >= 40 years. Currently, the global market is dominated by >= 18 years & < 40 years age group. Single-vision lenses are commonly used to correct vision in adult people (>= 18 Years & < 40 Years) with single-eye conditions such as myopia, hyperopia, and astigmatism. However, with increasing age, the need for bifocal or progressive lenses increases significantly, due to multiple sight issues.

Based on the application, the global single-vision lenses market segments are hyperopia (farsightedness), myopia (nearsightedness), astigmatism, and presbyopia. Currently, the single-vision lens industry is dominated by the myopia (nearsightedness) segment. Myopia (nearsightedness) is a refractive error that causes far objects to look hazy or blurry. The most prevalent eye condition in the world is myopia. It is the main factor contributing to children & young adult's vision impairment, and its prevalence is quickly rising.

Single Vision Lenses Market: Report Scope

Single Vision Lenses Market: Regional Analysis

Asia Pacific to lead the market during the forecast period

The global single-vision lenses market growth is expected to be driven by Asia Pacific, during the forecast period. According to the World Health Organization (WHO), the overall prevalence of myopia was highest in the Asia-Pacific (high-income region) accounting for around 53.4%. Wherein, East Asia accounted for 51.6%, while adolescents in urban areas of China & South Korea have reported high rates of 67% & 97%, respectively. Moreover, as of October 2021, around 52.7% of the children & adolescents in China were myopic, as per a study published in the National Library of Medicine (United States) in August 2022.

In December 2022, the second Myopia Prevention and Treatment Integration Forum (Bright China 2022) was successfully held online. Around 43 myopia specialists from worldwide participated in order to share recent viewpoints & insights on myopia prevention & treatment. They focused on the new concept & new technology of myopia.

In May 2023, Brien Holden Vision Institute (BHVI) organized Myopia Awareness Week to aware practitioners, parents, and advocates of myopia. BHVI is an Australia-based non-profit research & development organization working in the ophthalmic sector. All such forums are likely to support the growth of the single-vision lens industry.

In India, according to a study by the All-India Institute of Medical Sciences (AIIMS), 17% of children aged between 5 years to 15 years are suffering from myopic disorder. By 2050, the prevalence of myopia in urban areas of India is expected to reach around 48%.

Apart from myopia, the demand for single-vision lenses in the region is also increasing due to hyperopia (farsightedness), astigmatism, and presbyopia cases.

In August 2022, Lenskart planned to shift its entire production plants from Southeast Asia to Rajasthan, India. These automated plants can serve around 100 million people per annum. Recently, in June 2022, Lenskart acquired the majority of stakes in Japan-based firm Owndays, which designs & manufactures optical eyewear, to increase its presence in 13 Asian markets, including, India, Thailand, Singapore, Philippines, Taiwan, Japan, Malaysia, Indonesia, and others.

According to the WHO, in the Southeast Asia Region, around 30% of the world's blind & vision-impaired population lives. In October 2022, the action plan for integrated people-centered eye care in Southeast Asia (2022-2030) was launched to increase in effective solution of refractive error by 40% by 2030. All the aforementioned trends are likely to support the market’s growth for single-vision lenses in the Asia Pacific region.

In Europe, according to the World Health Organization (WHO), the prevalence of near vision impairment was reported to be around 10% only in Western Europe. Apart from near vision impairment, far vision impairments are also commonly reported in the region. Some of the key manufacturers of single-vision lenses in Europe are Carl Zeiss AG, EssilorLuxottica, RODENSTOCK GMBH, Bod Lenses, Rhein Vision, and others.

Single Vision Lenses Market: Competitive Analysis

The global single-vision lenses market is dominated by players like:

• Bod Lenses
• Carl Zeiss AG
• CHEMIGLAS CORP.
• EssilorLuxottica
• GKB OPHTHALMICS LTD.
• HOYA
• Jiangsu Aogang Optical Glasses Co., Ltd.
• JIANGSU HONGCHEN OPTICAL CO,LTD.
• Nikon Corporation
• Pordason Optical
• Privo
• Rhein Vision
• RODENSTOCK GMBH
• SEED Co., Ltd.
• SEIKO OPTICAL PRODUCTS CO., LTD.
• Shamir Ltd.
• Shanghai Conant Optical Co., Ltd.
• Shanghai Mingyue Glasses Co., Ltd.   
• TOG USA
• VISION EASE
• Wanxin Optical Group Co., Ltd. (WANXIN)

The global single-vision lenses market is segmented as follows:

By Type

• Spherical
• Aspherical
• Freeform

By Material

• Glass
• Polycarbonate 
• Other Material Types (Urethane-based Pre-polymer), etc.)

By Age Group

• < 18 Years
• >= 18 Years & < 40 Years
• >= 40 Years

By Application

• Hyperopia (Farsightedness)
• Myopia (Nearsightedness)
• Astigmatism
• Presbyopia

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa