The Scleral Lens Market is predicted to experience a remarkable surge, reaching a projected valuation of USD 1197.36 Million by 2031. This signifies a substantial compound annual growth rate (CAGR) of 15.8% from 2024 to 2031, reflecting a significant increase from its 2023 valuation of USD 319.78 Million.
The scleral lens market is projected to witness significant growth over the coming years, driven by several key factors. These include the rising prevalence of eye diseases such as myopia, keratoconus, and dry eye syndrome, growing adoption of scleral lenses for vision correction, and increasing awareness about the benefits of these lenses over conventional methods.
Market Scope
Scleral lenses, designed to vault the cornea, offer a solution for those with irregular corneas or eye diseases. These lenses provide superior comfort, vision quality, and safety compared to traditional contacts. Fueled by the rising prevalence of eye conditions like myopia, keratoconus, and dry eye syndrome, the market for scleral lenses is poised for growth. Developing nations like India, China, and Brazil, with their large and growing populations and increasing disposable incomes, represent a significant opportunity for scleral lens manufacturers due to rising awareness of eye health.
Download Free Sample Report of Scleral Lens Market @ https://www.snsinsider.com/sample-request/3028
List of Scleral Lens Market Companies Profiled in Report:
- ABB Optical Group
- Acculens
- Art Optical Contact Lens Inc
- Bausch Health Companies Inc.
- Blanchard Lab
- BostonSight
- Cooper Vision
- Essilor
- Optact International Ltd.
- SynergEyes
- TruForm Optics Inc.
- Valley Contax Inc.
Market Analysis
Beyond their traditional role in treating eye diseases, scleral lenses are gaining traction for everyday vision correction. Their comfort, safety, and superior vision quality compared to soft lenses are driving this shift. Technological advancements are leading to innovative scleral lenses, with the U.S. FDA even approving their use for dry eye treatment. This expands their application beyond vision correction. The growing number of patients with eye conditions like keratoconus and dry eye syndrome fuels the demand for scleral lenses as a reliable solution. With a rising base of contact lens users (over 42 million in the U.S. alone), the potential customer pool for scleral lenses is expanding, propelling market growth.
Market Segment Analysis
By Type
- Mini-Scleral Lenses
- Large-Scleral Lenses
Mini scleral lenses, driven by technological advancements and their use post-surgery, are expected to lead the market. Large scleral lenses also hold a significant share due to their growing adoption for treating eye diseases.
By End User
- Hospitals
- Eye-clinic
- Others
Eye clinics are expected to dominate the market due to the rise of independent practitioners performing more scleral lens fitting procedures. This is further fueled by growing awareness and patient-centered care offered by these clinics.
Have Any Query? Ask Our Experts @ https://www.snsinsider.com/enquiry/3028
Impact of Recent Events
- Russia-Ukraine War:
The ongoing military conflict between Russia and Ukraine has disrupted global supply chains and caused significant volatility in commodity prices. This can potentially impact the scleral lens market in several ways:
- Increased Production Costs: The war has led to higher energy costs and labor expenses, which could translate into increased production costs for scleral lenses. Manufacturers may be forced to raise prices to maintain profitability, potentially impacting consumer demand.
- Supply Chain Disruptions: The conflict has disrupted trade routes and logistics networks, making it difficult to source raw materials and finished products. This could lead to shortages of scleral lenses in certain regions.
- Cybersecurity Threats: The war has also heightened cybersecurity concerns. Businesses involved in the scleral lens market may be at increased risk of cyberattacks, which could disrupt operations and compromise sensitive data.
- Economic Slowdown:
A persistently unstable economic and financial climate can negatively impact the scleral lens market in a few ways:
- Reduced Consumer Spending: In an economic slowdown, consumers may tighten their budgets and prioritize essential spending over discretionary purchases like scleral lenses. This could lead to a decline in demand for the product.
- Impact on Business Operations: Economic instability can also affect the financial health of companies involved in the scleral lens market. This could lead to reduced investments in research and development, production delays, and job losses.
Key Regional Developments
North America is expected to dominate the global scleral lens market throughout the forecast period. The United States, a key country within the region, is witnessing a rise in eye diseases and injuries, which is a primary driver of market growth.
As per the National Eye Institute, a significant number of U.S. residents have low vision, and this number is projected to increase further in the coming years. Additionally, a substantial portion of the population wears contact lenses, indicating a potential customer base for scleral lenses.
Key players in the region are actively involved in research and development activities, leading to the introduction of novel scleral lens products with advanced features. Additionally, strategic partnerships and acquisitions further strengthen the market position of these players. For instance, Johnson & Johnson Vision’s launch of the TECNIS Toric II 1-Piece Intraocular Lens and the acquisition of Abbott Medical Optics are examples of such initiatives that contribute to market growth.
Recent Developments
August 2023: A new scleral lens called Europa Tangent has been introduced by Visionary Optics. This lens boasts an enhanced design that promises improved comfort and vision quality for wearers.
Valuable Insights for Scleral Lens Market Study
- Comprehensive understanding of the drivers, restraints and opportunities for the market.
- In-depth analysis of market trends and segments.
- Identification of key market players and their strategies.
- Forecasts of future market growth and development.
- Assessment of the impact of recent events on the market.
Purchase Scleral Lens Market Report @ https://www.snsinsider.com/checkout/3028
Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Scleral Lens Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Scleral Lens Market Segmentation, By Type
Chapter 9 Scleral Lens Market Segmentation, By End-Use
Chapter 10 Regional Analysis
Chapter 11 Company profile
Chapter 12 Competitive Landscape
Chapter 13 Use Case and Best Practices
Chapter 14 Conclusion
Continued…
Other Trending Report
Medical Aesthetics Market Outlook
About US:
SNS Insider has been a leader in data and analytics globally with its authentic consumer and market insights. The trust of our clients and business partners has always been at the center of who we are as a company. We are a business that leads the industry in innovation, and to support the success of our clients, our highly skilled engineers, consultants, and data scientists have consistently pushed the limits of the industry with innovative methodology and measuring technologies.
Contact Us:
Akash Anand – Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 | +91-7798602273 (IND)
