Optical Instrument And Lens Global Market To Reach Value Of $65 Billion In 2025

The optical instrument and lens market consists of sales of optical instruments and lenses by entities (organizations, sole traders, and partnerships) that produce optical instruments and lenses such as binoculars, microscopes (except electron and proton), telescopes, prisms, and lenses (except ophthalmic), coating or polishing lenses (except ophthalmic), and mounting lenses (except ophthalmic). The optical instrument and lens market is segmented into binoculars; microscopes (except electron, proton); telescopes; and other optical instruments and lenses. Only goods and services traded between entities or sold to end consumers are included.

Global Optical Instrument And Lens Market Size And Drivers:

The global optical instrument and lens market is expected to grow from $46.97 billion in 2020 to $48.95 billion in 2021 at a compound annual growth rate (CAGR) of 4.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $65.41 billion in 2025 at a CAGR of 7.5%. The growing demand for optical instruments and lenses from the medical sector globally contributed to the optical instrument and lens market growth.

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Trends In The Global Optical Instrument And Lens Market

In May 2019, Thorlabs, a US-based optical equipment supplier announced the acquisition of Cirtemo, LLC for an undisclosed amount. With the acquisition of Cirtemo, LLC, Thorlabs plans to acquire two technologies, namely Multivariate Optical Elements for spectroscopic chemical analysis and Nanopatterning Tools known as MagAssemble. Cirtemo, LLC is a Columbia-based which designs and manufactures patented optical filters, called Multivariate Optical Elements, which are encoded to detect complex chemical compounds.

Global Optical Instrument And Lens Market Segments:
The global optical instrument and lens market is further segmented –
By Product: Binoculars, Microscopes (Except Electron, Proton), Telescopes, Others
By Application: Medical, Astronomy, Commercial, Defense, Others
By Category: Optical Instruments, Interchangeable Camera Lenses
By Geography: The global optical instrument and lens market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Optical Instrument And Lens Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides optical instrument and lens market overviews, analyzes and forecasts market size and growth for the global optical instrument and lens market, optical instrument and lens market share, optical instrument and lens market players, optical instrument and lens market segments and geographies, optical instrument and lens market’s leading competitors’ revenues, profiles and market shares. The optical instrument and lens market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.