Aspherical Lens Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

The aspherical lens market is projected to grow from USD 9.0 billion in 2023 to USD 12.2 billion by 2028, registering a CAGR of 6.2% during the forecast period Rising demand for aspherical lenses for use in digital cameras, increasing adoption in automotive sector, and surging use of aspherical lenses in optical instruments and ophthalmic applications drives the market for aspherical lens. Growing use of infrared aspherical lenses in security and surveillance cameras will also boost market growth in the coming years.

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There has been an increase in the adoption of aspherical lenses in ophthalmic diagnostic instruments such as ophthalmoscopes and retinoscopes. The lenses can provide improved optical quality, allowing for clearer and more accurate visualization of the eye. This is expected to result in increasing use of aspherical lenses in ophthalmic surgeries in the near future. The increasing research & development by aspherical lens manufacturers is also driving market growth. Essilor Luxottica, and JML Optical are the prominent manufacturers of ophthalmic aspherical lenses.

Further, the demand for aspherical lenses in high-end mobile phones is increasing due to their ability to improve image quality, enable slimmer designs, and provide greater flexibility. Smartphone manufacturers have increased their focus on enhancing the quality of the lenses used in these devices. For instance, in 2022, Xiaomi introduced a new series of high-end smartphones, 12S, using Sony imaging sensors and Leica lenses, including aspherical lenses. In 2021, Apple was granted a patent for a folded camera with an aspherical element that could provide superior zoom capabilities in a future iPhone. Aspherical lenses are more commonly used in tablets and smartphones due to the increasing market penetration in both developing and developed nations. The demand for high-end camera lenses, especially aspherical lenses, is increasing along with the market for high-end smartphones.

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The ophthalmic application is expected to hold the largest market share during the forecast period. There has been an increase in the adoption of aspherical lenses in ophthalmic diagnostic instruments such as ophthalmoscopes and retinoscopes. The lenses can provide improved optical quality, allowing for clearer and more accurate visualization of the eye. This is expected to result in increasing use of aspherical lenses in ophthalmic surgeries in the near future. The increasing research & development by aspherical lens manufacturers is also driving market growth. Essilor Luxottica, and JML Optical are the prominent manufacturers of ophthalmic aspherical lenses.

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