The Latin America, Middle East and Africa Aspherical Lens Market would witness market growth of 10.1% CAGR during the forecast period (2023-2029).
The emergence of developing nations, the rapid growth of new technology, sustainability policies, and shifting consumer attitudes towards ownership all contribute to the drastic change in today's economies. Automotive will follow other industries transformed by digitization, increased automation, and new business models. Four disruptive technology-driven developments are driven by these dynamics in the automotive industry: diversified mobility, electrification, autonomous driving, and connection.
More than 1 billion people suffer from vision impairment due to not receiving the necessary treatment for disorders like near and far-sightedness, glaucoma, and cataracts. According to the research, stronger integration of eye care is required within national health services, particularly at the primary health care level, to guarantee that more people's eye care requirements are met, especially through prevention, early identification, treatment, and rehabilitation. As a result, aspherical lenses are becoming increasingly common.
The need for ophthalmoscopes is being driven by several causes, including the rise in eye conditions like glaucoma, cataracts, and macular degeneration, as well as the surge in demand for ophthalmic drugs and increased investment in R&D initiatives by several healthcare businesses. It is projected that the growth of middle-class families, advancements in medical technology, and expansion of health insurance across the Middle East and Africa would substantially impact this growth. Additionally, contamination of the air and water raises the risk to the eyes. As a result, it is projected that the prevalence of eye issues will keep increasing over the coming years.
The Brazil market dominated the LAMEA Aspherical Lens Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $231.4 Million by 2029. The Argentina market is anticipated to grow at a CAGR of 10.7% during (2023 - 2029). Additionally, The UAE market would exhibit a CAGR of 9.8% during (2023 - 2029).
Based on Offering, the market is segmented into Single and Double. Based on Type, the market is segmented into Glass, Plastic, and Others. Based on Manufacturing Technology, the market is segmented into Molding, Polishing & Grinding, and Others. Based on Application, the market is segmented into Opthalmic, Consumer Electronics, Digital Cameras, Automotive, Fiber Optics & Photonics and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Aspherical Lens Market is Projected to reach USD 13 Billion by 2029, at a CAGR of 6.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nikon Corporation, Canon, Inc., Panasonic Holdings Corporation, Hoya Corporation, Thorlabs, Inc., AGC, Inc., Carl Zeiss AG, Tokai Optical Co., Ltd., Calin Technology Co., Ltd. and Largan Precision Co., Ltd.
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