Objective Lenses Market 2024 With Covid-19 Pandemic Analysis, Trends, Revenue, Future Growth Analysis and Forecast to 2030

Rise in Laboratory Activities May Lead to Spread of COVID-19 in Medical Settings

Companies in the objective lenses market are increasing awareness about handling and disinfecting microscope products in order to contain the spread of the novel coronavirus (COVID-19). For instance, world leader in optics and imaging products, Nikon, is educating its users about WHO (World Health Organization) guidelines for general handling and disinfection of microscope products. As such, local medical authorities and relevant organizations are also practicing the WHO guidelines to contain the spread of COVID-19.

Since R&D activities in labs and research centers have intensified over the past couple of months, companies in the objective lenses market are capitalizing on this trend to increase the availability of objective lens products.

Moreover, the unprecedented demand for vaccines and drugs that reduce the severity of COVID-19 in patients is another key driver for the growth of the objective lenses market. On the other hand, many disinfectant formulations are not compatible with objective lens products. Hence, manufacturers are advising users to follow the user manual guidelines on cleaning and disinfecting objective lenses.

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Automated Digital Microscopes Transform Processes in Modern Biomedical Applications

The automated digital microscopy and fluorescence imaging is playing a pivotal role in modern biomedical applications and in diagnostic instruments. For instance, Dover Motion— a subsidiary of instrument development and contract manufacturer Invetech, is shedding light on automated digital microscopy and fluorescence imaging concepts with the help of online videos. Thus, the booming digital marketing space is increasing the visibility of microscopes with objective lenses. Furthermore, companies in the objective lenses market should explore untapped opportunities in online sales and digital marketing to increase the uptake of objective lens products.

DNA (Deoxyribonucleic Acid) sequencers, digital pathology scanners, and cell imaging instruments are generating stable revenue streams for companies in the objective lenses market. Manufacturers are focusing on performance and cost of objective lenses that are being increasingly used in high-precision automated digital microscopes.

New Manufacturing Technologies in Objective Lenses Help Obtain High-quality Images

The growing demand for improved image flatness and numerical aperture has triggered innovations in objective lenses. For instance, the Japan-based optical products company Olympus is acquiring global recognition with its X Line™ series objectives that are a breakthrough innovation in optics and photonics technologies. Companies in the objective lenses market are increasing their R&D activities in new manufacturing technologies in order to gain a competitive edge over other market players.

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New manufacturing technologies help improve image flatness and correct the chromatic aberration. Users in the medical and research field are benefitting from improved objective lenses, owing to their advantageous qualities of acquiring bright and high-quality images. In addition, the competition in the objective lenses market is intensifying as manufacturers are increasing their availability of lenses that deliver improved quantitative data acquisition. The latest series of lenses accelerates the speed of creating large and stitched images.

Special Mounting Strategies in Designs of Objectives Ensure Performance in Variable-temperature Environments

The objective lenses market is projected to reach a value of ~US$ 500 Mn by 2030, as innovative designs in objective lenses are revolutionizing the field of industrial metrology and other vision systems. The demanding metrology applications such as interferometers require objective lenses with minimal tolerances in order to achieve valid measurement results. Manufacturers in the objective lenses market are using classical CAD (Computer-aided Design) software to innovate in mechanical designs of objective lenses.

Manufacturers are also catering to specific requirements of industrial users such as introducing special mounting techniques in objective lenses for low-stress interfaces of optical and mechanical parts. The burgeoning demand for semiconductor applications such as special gluing of components is acting as a key driver for market growth. Hence, companies are innovating in new designs for objective lenses by adopting special mounting strategies and flexure hinges to ensure performance in variable-temperature environments.

Enhanced SIM Resolution Helps Overcome Large Topographical Differences in Light Microscopy

The objective lenses market is estimated to progress at a modest CAGR of ~4% during the forecast period. This is evident since the trend of lens-free microscopy is gauging momentum in the field of medical research. High-resolution microscopes typically use objective lenses with large numerical apertures. Thus, low working distances in the range are discouraging the adoption of objective lenses, owing to the issue of large topographical differences. Hence, companies in the objective lenses market are increasing the awareness of structured illumination microscopy (SIM) enhanced resolution in objective lenses in order to boost its uptake.

Objective lenses play an important role in light microscopy in the field of biology and medicine. Hence, manufacturers are increasing their efficacy to provide custom objective lenses for researchers and big science users.

Precise Testing of Flange Focal Length Instrumental in Small Space Installations

Precise testing of flange focal length in objective lenses is becoming increasingly important in applications that require smallest installation spaces such as smartphones and cars. For instance, TRIOPTICS – a producer of a wide range of optical measurement and manufacturing systems, announced the launch of OptiSpheric® HR, a system that deploys high-precision inspection of short focal length lenses. In order to ensure a perfect image on a very close camera chip, it is crucial to determine the precise flange focal length. As such, industry standard practices are being adopted to test mechanical parameters of objective lenses such as back focal length and modulation transfer function.

State-of-the-art fourier-transform infrared spectroscopy (FTIR) microscopes are bolstering the growth of the objective lenses market. For instance, JASCO – a specialist in technologies for optical spectroscopy and chromatography, is committed to design advanced optical instrument designs.

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Objective Lenses Market: Overview

  • According to Transparency Market Research’s latest research report on the global objective lenses market for the historical period 2018–2019 and the forecast period 2020–2030, the development of new technologies in microscopes, telescopes, and cameras is expected to boost the global objective lenses market during the forecast period. Rise in demand for high power objective lenses in microscopes for use in medical applications is expected to drive the global objective lenses market.
  • In terms of revenue, the global objective lenses market is estimated to reach a value of ~US$ 500 Mn by 2030, expanding at a CAGR of ~4% during the forecast period

Rising Demand for Miniature Objective Lenses Worldwide: A Key Driver

  • Demand for miniature objective lens is high across the globe, owing to its small size and low weight. These lenses are ideal for weight and size sensitive applications such as water monitoring, rapid response testing of diseases, and microscopic examination on factory floors.
  • Small size and low weight miniaturized microscope systems make them suitable for rapid-response field work with high precision and accuracy
  • Moreover, miniature objective lenses are suitable for fluorescence confocal micro-endoscopes that are used for the detection and diagnosis of diseases in various organs accurately due to which, miniature objective lenses are largely used in the medical field
  • Thus, increasing demand for miniature objective lenses in the global healthcare sector is projected to have a positive impact on the global objective lenses market during the forecast period

New Product Development: Latest Market Trend

  • Objective lenses have been playing a vital role in the healthcare sector, as microscopes are increasingly being used in the medical field and research laboratories to study individual cells or virus cells
  • With technological advancements, scientists have developed a specialized microscope that can non-invasively diagnose and treat skin cancer as well as perform precision surgery without making any incisions in the skin, thereby improving the performance of microscopes. Thus, several well-established manufacturers of objective lenses are undertaking technological advancements in their products to cater to the changing needs of customers.
  • The use of novel microscopes allows medical professionals to pinpoint the exact location of an abnormality, diagnose it, and treat it instantly
  • Demand for new and innovative objective lenses in healthcare and research fields is increasing as a result of these advantages. This is expected to boost the global objective lenses market during the forecast period.

High Cost of Objective Lenses: Major Challenge for Global Market

  • Objective lenses are used in telescopes, microscopes, and cameras. Objective lenses used in telescopes are expensive, as they are mainly used to see objects that are far away.
  • Moreover, the size of telescopes is large, as it requires large high-quality lenses to obtain high quality and clear images. Thus, cost of producing such large high quality lenses is more, due to which the cost of telescopes is high.
  • Thus, high cost of objective lenses used in telescopes is projected to have a moderately negative impact on the global objective lenses market during the forecast period

Objective Lenses Market: Competition Landscape

  • Detailed profiles of companies of objective lenses have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • Key players operating in the global objective lenses market are
    • Olympus Corporation
    • Kyocera Corporation
    • Leica Microsystems
    • Meiji Techno
    • Mitutoyo Corporation
    • Motic
    • Navitar
    • Newport Corporation
    • Nikon Corporation
    • Thorlabs Inc.
    • ZEISS International

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Objective Lenses Market: Key Developments

  • Key providers of objective lenses, such as Olympus Corporation and Leica Microsystems are focusing on the development of innovative and reliable objective lenses. Some other key developments in the global objective lenses market are as follows:
    • In December 2019, Leica Microsystems and European Molecular Biology Laboratory (EMBL) signed an agreement to jointly develop new imaging technologies for life sciences application
    • In May 2018, Olympus Corporation announced plans to launch the IPLEX G Lite industrial video scope, which is used to capture images inside aircraft engines, piping, and other equipment
  • In the report on the global objective lenses market, we have discussed individual strategies, followed by company profiles of providers of objective lenses. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global objective lenses market.

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