Monday, May 19, 2014

Lens Markets in the World to 2018 - Market Size, Trends, and Forecasts By Big Market Research

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

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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:
Contact lenses
Spectacle lenses of glass
Other spectacle lenses
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