USD 295.3 million
Report ID:
SQMIG35B2153 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
62
|Figures:
80
Global Scleral Lens Market size was valued at USD 295.3 million in 2022 and is poised to grow from USD 347.57 million in 2023 to USD 1280.12 million by 2031, growing at a CAGR of 17.7% in the forecast period (2024-2031).
The global scleral lens market has experienced substantial growth in recent years, driven by a combination of increasing prevalence of various eye conditions, advancements in lens technology, and growing awareness among consumers about the benefits of scleral lenses. Scleral lenses are specialized contact lenses that cover a larger portion of the eye's surface, offering advantages for patients with complex vision issues or irregular corneas. One of the primary drivers behind the market's growth is the rising incidence of conditions like keratoconus, astigmatism, and dry eye syndrome. Scleral lenses provide effective solutions for individuals who may not achieve optimal vision correction with traditional contact lenses or glasses. Additionally, the aging population and the associated rise in conditions such as presbyopia have further propelled the demand for advanced vision correction options, including scleral lenses.
Advancements in material science and manufacturing techniques have led to the development of more comfortable and customizable scleral lenses. These innovations have addressed concerns about comfort, ease of insertion, and overall wearability, making them more appealing to a broader range of patients. Moreover, increased awareness among patients and eye care practitioners about the benefits of scleral lenses has contributed to their growing adoption. These lenses offer improved comfort, reduced dryness, and enhanced visual acuity, leading to higher patient satisfaction rates. The market's expansion has also been fueled by the growing accessibility of these lenses through an expanding network of eye care professionals and distribution channels. However, cost factors and the need for specialized fitting by skilled practitioners remain challenges for widespread adoption.
US Scleral Lens Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 295.3 million
Largest Segment
Hospital
Fastest Growth
Eye Clinic
Growth Rate
17.7% CAGR
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The global scleral lens market is segmented on the basis of Type, Application and region. By Type, the market is segmented into Mini-Scleral Lenses, Large-Scleral Lenses. By Application, the market is segmented into Hospital, Eye Clinic, Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Scleral Lens Market Analysis By Type
In the global scleral lens market, Mini-scleral lenses are the dominant segment. These are smaller in diameter compared to traditional large scleral lenses. They provide a balance between comfort and visual acuity, making them a popular choice for individuals with corneal irregularities or dry eyes. Their design allows for a layer of fluid to be trapped between the lens and the cornea, providing comfort and maintaining a smooth optical surface for improved vision. They are often considered more comfortable than larger scleral lenses.
On the other hand, the fastest-growing segment is Large-scleral lenses. These have a larger diameter and cover a greater portion of the eye's surface, including the cornea and a significant portion of the sclera. These lenses are used for more severe corneal irregularities and conditions such as advanced keratoconus. By vaulting over the cornea and resting on the sclera, these lenses create a reservoir of tear fluid that can help provide better vision and comfort for those with distorted corneal shapes.
Scleral Lens Market Analysis By Application
In the global scleral lens market, Hospitals are considered the dominant segment. Hospitals are often equipped with advanced diagnostic and treatment facilities, making them a significant application segment for scleral lenses. Patients with complex eye conditions often require the expertise and resources available in hospitals, leading to a higher adoption of scleral lenses in this setting. Additionally, hospitals tend to attract patients who need immediate and specialized care for their eye conditions, further driving the demand for scleral lenses.
On the other hand, the fastest-growing segment is Eye clinics, also known as optometry clinics or vision care centers, which have been experiencing rapid growth in the scleral lens market. These clinics specialize in providing a wide range of eye care services, including fitting and prescribing contact lenses. Scleral lenses, being a specialized and effective solution for various eye conditions, have gained popularity in eye clinics due to their potential to improve patients' quality of life. In the past, eye clinics have become more adept at fitting and prescribing scleral lenses, which require precise fitting procedures and ongoing management. As the technology and techniques for fitting scleral lenses have improved, more eye clinics have integrated them into their services, driving the growth of this segment.
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The global scleral lens market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America has been one of the dominant regions in the scleral lens market. The United States, in particular, has a large market for specialty contact lenses like scleral lenses due to a high prevalence of conditions such as keratoconus and other corneal irregularities. The region has a well-established healthcare infrastructure, advanced diagnostic technologies, and a high level of awareness among both patients and healthcare professionals about the benefits of scleral lenses. Additionally, the presence of several key market players and innovative advancements in contact lens technologies has contributed to North America's dominance in the market.
On the other hand, Asia-Pacific has been one of the fastest-growing markets for scleral lenses. The market growth can be attributed to several factors, including an increasing prevalence of conditions like myopia and keratoconus, a growing awareness of advanced eye care options, and improvements in healthcare infrastructure across countries in the region. Additionally, rising disposable income levels and a shift towards adopting advanced medical technologies have further fueled the demand for scleral lenses in the Asia-Pacific region.
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Scleral Lens Market Drivers
Growing Prevalence of Eye Conditions:
Technological Advancements:
Scleral Lens Market Restraints
Intensive High Costs:
Limited Availability and Awareness:
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The global scleral lens market features a dynamic competitive landscape characterized by a blend of established players and emerging entrants. Leading companies like Bausch + Lomb, Essilor, CooperVision, and SynergEyes dominate with their extensive product portfolios, robust distribution networks, and significant R&D investments. These industry giants leverage their brand recognition to maintain market share. Additionally, innovative startups such as Blanchard, Art Optical, and TruForm Optics are disrupting the space with advanced materials, enhanced designs, and personalized solutions. The market's competitiveness is fueled by technological advancements, increased prevalence of ocular disorders, and growing consumer awareness about improved vision correction options. Continuous product innovation, strategic partnerships, and focus on expanding global footprints remain pivotal strategies for companies to stay competitive and meet the evolving demands of eye care professionals and patients worldwide.
Scleral Lens Market Top Player’s Company Profile
Scleral Lens Market Recent Developments
In December 2023, Azalea Vision announced the first on-eye application of its ALMA proprietary smart contact lens, which is designed to offer a nonsurgical solution for patients with keratoconus, corneal irregularities, photophobia and presbyopia.
In December 2023, Xpanceo, unveiled prototypes of its smart contact lens, which aims to mimic the technology featured in the Iron Man films, its founder and managing partner has said.
In October 2023, Xpanceo, a Dubai based deep tech startup, raised $40M to focus on smart contact lenses.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global scleral lens market analysis, the market has witnessed significant growth due to increasing awareness and prevalence of various eye conditions like keratoconus, dry eye syndrome, and post-surgical complications. Scleral lenses offer improved visual acuity and comfort for patients with irregular corneas or severe dry eyes. Technological advancements, such as the development of custom-made and highly oxygen-permeable materials, have enhanced the performance and adoption of these lenses. Moreover, a growing aging population and the rising demand for minimally invasive vision correction procedures have further fueled market expansion. Additionally, the expansion of distribution networks and online platforms for purchasing scleral lenses have widened their accessibility. However, factors like high costs, lack of skilled professionals for fitting, and limited insurance coverage could potentially hinder market growth. The market is characterized by key players investing in research and development activities to innovate new lens designs and materials. North America and Europe hold substantial market shares, attributed to advanced healthcare infrastructure and increasing ophthalmic disorders. Overall, the global scleral lens market is expected to continue its upward trajectory, driven by evolving technology and increasing eye-related health concerns.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 295.3 million |
Market size value in 2031 | USD 1280.12 million |
Growth Rate | 17.7% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Scleral Lens Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Scleral Lens Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Scleral Lens Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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Report ID: SQMIG35B2153
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