Global demand for lenses is forecast to expand 4.4% p.a. between 2014 and 2018. Germany, Greece, Thailand, the United Kingdom, and the United States are considered the highest potential markets in the coming years.
According to recently published research conducted by a leading international market research company, Global Research & Data Services, the expansion of the global lens industry is forecast to reach 4.4% p.a. in the coming years. Between 2007 and 2013 the market increased with an average annual growth of 1.6%. Currently, spectacle lenses of other material than glass accounts for 51% of the global demand while the remaining market share is divided between contact lenses (45.1%), and spectacle lenses of glass (3.9%).
France, Germany, Thailand, the United Kingdom, and the United States represent the largest lens markets while the strongest annual growth is forecast to occur in Greece (18.5%), Sri Lanka (17.7%), Kyrgyzstan (16.9%), Kazakhstan (16.4%), and Lithuania (15.9%).
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Lens market size compared to market growth in different countries
Based on in-house analysis and an advanced model which takes into consideration the actual market size, trends, forecast market growth, and changes in the market environment, Global Research and Data Services calculates the Market Potential Rates, the predicted market potential of the country in the coming years. The larger the Market Potential Rate, the more potential the market has in the coming years; and conversely, the smaller the rate, the less potential the market is considered to have in the future. Based on these Market Potential Rates, the top 20 highest potential lens markets in the coming years are:
Ranking Country Market Potential Rates
1. United States 0.39
2. United Kingdom 0.21
3. Thailand 0.19
4. Greece 0.19
5. Germany 0.18
6. Sri Lanka 0.18
7. Kyrgyzstan 0.17
8. Kazakhstan 0.16
9. Lithuania 0.16
10. Malaysia 0.15
11. Netherlands 0.15
12. Senegal 0.15
13. China 0.14
14. Latvia 0.13
15. Turkey 0.13
16. France 0.13
17. Ireland 0.13
18. Vietnam 0.12
19. Ukraine 0.12
20. India 0.11
The market information is based on new industry data reports recently published by Global Research & Data Services. The reports offer the most up-to-date market data on the actual market situation, trends, and future outlook for lenses in the world and individually for the following countries:
Argentina, Armenia, Australia, Austria, Azerbaijan, Belgium, Bolivia, Brazil, Bulgaria, Chile, China, Colombia, Czech Republic, Denmark, Ecuador, Estonia, Finland, France, Germany, Greece, Hungary, India, Indonesia, Ireland, Israel, Italy, Jordan, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Macedonia, Malaysia, Mexico, Moldova, Morocco, Netherlands, Norway, Oman, Pakistan, Paraguay, Peru, Poland, Portugal, Romania, Russia, Senegal, Slovakia, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Tanzania, Thailand, Turkey, Ukraine, United Kingdom, United States, Vietnam
The reports include historic market data from 2007 to 2013 and forecasts until 2018 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, analysts, and other people looking for key industry data in readily accessible and clearly presented tables and graphs.
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The latest market data for this research include:
- Overall lens market size, 2007-2018
- Lens market size by product segment, 2007-2018
- Growth rates of the overall lens market and different product segments, 2007-2018
- Shares of different product segments of the overall lens market, 2007, 2013 and 2018
- Market Potential Rates of the overall lens market and different product segments
The product segments analyzed in the data reports include:
Spectacle lenses of glass
Other spectacle lenses
The reports answer the following questions:
- What is the current size of the lens market in the world and in different countries?
- How is the lens market divided into different product segments?
- How are the overall market and different product segments growing?
- How is the market predicted to develop in the future?
- What is the market potential compared to other countries?
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