Lensmeter is an ophthalmic instrument used by eye-care professionals to verify the correct prescription for a pair of eyeglass lenses. Further, they are also used to measure and mark uncut lenses and ensure that lenses are properly fitted in spectacle frames. It is also used at the time of eyewear making to measure the power of spectacle lens.
Global Lensmeters Market: Competition Landscape
In September 2017, NIDEK CO., LTD launched a new product under their ophthalmic segment named LM-7P and LM-7 Auto Lensmeter. The both devices offer simplified and improved operation to increase utility of the instrument while maintaining their high quality and functionality.
Aston EyeTech launched a new eye diagnostic instrument named Eyoto at the Vision Expo East in February 2018. The new product is assembled with a broad range of lens inspection tools and power mapping lensmeters.
Marco was founded in 1967 and is based in Jacksonville, Florida, the U.S. The company operates through two reportable business segments: vision diagnostic equipment and examination lane equipment. The company offers automated and manual lensmeters, including LM-7 Automated Lensmeter, LM-1800 Auto Lensmeter, and LM-101 Manual Lensmeter.
NIDEK CO., LTD.
NIDEK CO., LTD. is a Japan-based company designing, manufacturing, and marketing optometric and ophthalmic products. The company was founded in 1971 and is headquartered in Gamagori, Japan. NIDEK CO., LTD. operates through three business segments: ophthalmology & optometry, lens edging, and coating.
Essilor Instruments USA
Essilor Instruments USA was formed in 1996 and is located in Dallas, Texas, the U.S. The company’s products are distributed in more than 100 countries. Essilor Instruments USA offers vision screening products across several industries under their stereo optical business segment.
Coburn Technologies, Inc.
Coburn Technologies, Inc. was founded in 2010 and is a global leader in computer assimilated ophthalmic instruments and ophthalmic lens processing systems. The company is headquartered in South Windsor, Connecticut, the U.S. The company offers HLM-1, HLM-9000, HLM 7000, and OZMA CLM-9000 under its lensmeters segment.
UNITECH VISION is a privately held India-based company, and is one of the trusted providers of optical and ophthalmic products. The company was founded in 1962 and is headquartered in Delhi, India. The company’s portfolio includes a wide range of auto lensmeters for multiple markets.
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Global Lensmeters Market: Dynamics
Rise in Eye Disorders to Drive Global Lensmeters Market
One of the major factors driving the global lensmeters market is the increase in eye disorder across the globe. This is resulting in rise in the sales of lensmeters, as these instruments are integrated with eye-diagnose devices.
- According to the World Health Organization (WHO), by 2020, the rate of glaucoma-related blindness in Europe will rise to 13.9%, exceeding the worldwide rate of 8.43%
- According to the National Center for Biotechnology Information, 20.5 million (17.2%) Americans older than 40 years of age have cataract in either eye, and 6.1 million (5.1%) have pseudophakia/aphakia
The above statistics show the increase in ratio of several eye diseases among different age groups of people. This will boost the demand for lensmeters and fuel the growth of the global market.
Inability of Lensmeters to Provide Lenses Details to Hamper Market
The lensmeters are not able to provide details of spectacle lenses, such as segment style, lens form, edge or center thickness, etc. These details are necessary to check as it could cause problems to patients. However, in response to the growing demand for lensmeters, companies are focusing on research and development activities and innovations to overcome these hurdles.
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Global Lensmeters Market: Segmentation
In terms of product type, the global lensmeters market can be segmented into:
- Manual Lensmeter
- Automated Lensmeter
Based on application, the global lensmeters market can be divided into:
- Retail Optician
- Eyeglass Manufacturers
On the basis of end-use industry, the global lensmeters market can be categorized into:
The report on the global lensmeters market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and regions.
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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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