Global High Index Lens Monomer in Ophthalmic Lenses Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global High Index Lens Monomer in Ophthalmic Lenses Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

High-index lenses are lenses that have higher “indexes” of refraction. They are specialized lenses that can be made thinner and lighter than average prescription lenses. To get a bit technical, the refractive index of a material is the ratio of the speed of light in a vacuum divided by the speed of light in the material. For instance, the refractive index of high-index lenses is 1.74, meaning that light travels nearly 70 percent slower through high-index lenses than through a vacuum. High-index lenses' refractive index rises above 1.59 and can range from 1.60 to 1.74. Thus, anything above 1.59 on the index is considered a high index. High-index lens monomers are the raw materials for high-index lenses, which are used in ophthalmic applications.

Market Overview:

The latest research study on the global High Index Lens Monomer in Ophthalmic Lenses market finds that the global High Index Lens Monomer in Ophthalmic Lenses market reached a value of USD 264.7 million in 2022. It’s expected that the market will achieve USD 362.06 million by 2028, exhibiting a CAGR of 5.36% during the forecast period.

Myopia has been the subject of major international research for decades, directed towards understanding the development of this condition and how we can prevent, or slow it down. Myopia has also been shown to increase the risk of sight-threatening complications, for example, glaucoma, cataract, and retinal detachment. According to WHO, 2.6 billion people of all ages with myopia in 2020 globally. The number of people affected by myopia is now increasing around the world and is projected to affect fifty percent of the world population by 2050, due mainly to lifestyle factors. With more people suffering from myopia, the demand for spectacles increases fast.

For high index lens monomer, due to the high technology barrier, there are only a few manufacturers engaged in the industry, such as Mitsui Chemicals, MGC, Miwon Commercial, and PPG. Mitsui Chemicals is the dominator of the whole industry with more than 60% revenue share in 2022 globally. MR™ high index lens monomers of Mitsui Chemicals have been widely used by many famous spectacle lenses manufacturers, such as Zeiss, EssilorLuxottica, Hoya, etc. Industry barriers are high, making it difficult for new entrants to enter the market.

Region Overview:

In 2022, the share of the High Index Lens Monomer in Ophthalmic Lenses market in Asia Pacific stood at 58.21%.

Company Overview:

Mitsui Chemicals
Mitsui Chemicals is a Japanese chemicals company listed on the Nikkei with business interests in Japan, Europe, China, Southeast Asia and the USA. It is one of the leading chemical companies in Japan and is part of the Mitsui conglomerate. MR™ is the brand that supports the global lens brands, chosen by opticians, gaining consumer interest. Ophthalmic lenses are sold under lens manufacturer brands. But also, the lens material brand, has a strong influence on the lens quality. As a market leader in the process of revolutionizing eyewear products, starting with the manufacture of lens materials, Mitsui Chemicals leads the global eyewear market through the development of various superior lens materials and innovative technologies, including MR™, the de facto standard in high R.I. lens materials.

MGC

MGC is one of Japan’s leading chemical manufacturers. MGC manufactures numerous products that are beneficial to society. MGC makes products in a wide range of fields from natural gas to basic chemicals that are used in day-to-day life, fine chemicals that require advanced technological capabilities, and functional materials. MGC also uses proprietary technologies to develop new materials and create valuable products needed by society.

Mitsui Chemicals is one of the major players operating in the High Index Lens Monomer in Ophthalmic Lenses market, holding a share of 67.87% in 2023.

Segmentation Overview:

Among different product types, 1.60 Index segment is anticipated to contribute the largest market share in 2028.

Application Overview:

The market's largest segment by application is the segment Anti-blue Light Lenses, with a market share of 59.74% in 2022.

Key Companies in the global High Index Lens Monomer in Ophthalmic Lenses market covered in Chapter 3:

PPG
Mitsui Chemicals
Miwon
MGC

In Chapter 4 and Chapter 14.2, on the basis of types, the High Index Lens Monomer in Ophthalmic Lenses market from 2018 to 2029 is primarily split into:

1.60 Index
1.67 Index
1.74 Index
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the High Index Lens Monomer in Ophthalmic Lenses market from 2018 to 2029 covers:

Anti-blue Light Lenses
Photochromic Lenses
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)