Market Growth

Market Growth and HOYA’s Potential

The Life Care business is expected to grow on the basis of the global aging population and improved living standards in emerging countries. The Information Technology market shows some signs of having matured in terms of growth cycles, but still has promising areas in technology advancement. We are determined to continue investing in such growth areas.

Life Care

Market growth, driven by global aging population and improved living standards in emerging countries

Aging global population expands market

The aging global population is expected to boost demand for eyeglasses due to normal deterioration of vision by aging. Demand for medical flexible endoscopes is also anticipated to rise as a result of policies to restrain an increase in government medical expenditures, through preventive screening.

World Aging Population (65 and over) and Old-Age Dependency Ratio
World Aging Population (65 and over) and Old-Age Dependency Ratio
Source: United Nations, World Population Ageing 2019

Emerging countries’ improved living standards expands the market

Middle-income populations are increasing on the basis of economic growth of emerging countries. More people will have opportunities to buy eyeglasses or receive medical treatment, which means expansion of business opportunities for HOYA.

World Middle-Class Population
World Middle-Class Population
Source: Organisation for Economic Co-operation and Development (OECD)

Increase in the elderly and middle-class population expands the market

Demand for eyeglass lenses is increasing worldwide, due to aging of populations, higher purchasing power supported by emerging countries’ economic growth, rising health consciousness, and impairment of vision caused by use of computers and smartphones for long hours.

World Eyeglass Lens Market
World Eyeglass Lens Market
HOYA’s estimate

More demand for minimally invasive medical procedures drives growth in the endoscope market

Medical expenses are increasing worldwide, along with aging of populations. Governments are promoting disease prevention and early detection of diseases, as well as minimally invasive medical treatment. In particular the importance of the latter is rising in popularity, as part of the trend of reducing invasive medical treatment. Medical flexible endoscopes, which allow physicians to diagnose and treat the patient in a less-invasive way help to fulfill such needs.

World Medical Endoscopes Market
(Flexible, rigid, etc.)
World Medical Endoscopes Market (Flexible, rigid, etc.)
Source: Allied Market Research
Market Growth Drivers
  • Aging population
  • Increase in cancer rate
  • Initiatives for disease prevention
  • Desire for improvement of QOL and minimally invasive diagnosis and treatment devices
  • Improved medical infrastructure in emerging countries

Information Technology

Market growth, driven by technological advancement and expansion of application areas

The market of the Information Technology business as a whole is in a matured stage, but a closer look at each of our products reveals potential growth sub-segments.

Mask blanks for EUV lithography

EUV lithography is a technology used to transfer semiconductor circuit pattern to a substrate using extreme ultraviolet light. It is a potential key for advanced miniaturization of semiconductor circuits. HOYA understands client needs accurately and precisely, and properly responds to technological requirements with the underlying objective of being a leader in the market of mask blanks for EUV lithography.

Nearline server application of glass disks for HDDs

A nearline server is a server used for backups and archiving. The market of nearline servers has continued to undergo significant growth to accommodate the global surge in data volume. Memory storage capacity per server needs to be increased to realize more efficient server space within data centers. HOYA responds to such needs by providing customers with thinner disks, enabling an increase in the number of disks per server. This is helping us to increase disk shipment volume.

In-vehicle camera lenses

In-vehicle camera lenses are expected to be used in sensors that are indispensable for self-driving technology, and their market is expected to grow rapidly. Leveraging high-value-added glass materials and aspherical glass lenses, which are our strengths, we will capitalize on the market growth.