Market Growth
Market Growth and HOYA’s Potentials
The Life Care business is expected to enjoy long-term structural expansion against a background of global population aging and improving living standards in emerging countries. In the Information Technology business, the market is expected to grow due to factors such as progress in the miniaturization of semiconductors and increasing data-center demand. We will invest to achieve performance that outstrips the market growth potential of each business.
Life Care
Market growth, driven by global aging population and improving living standards in emerging countries
Aging global population expands the market
As global population aging advances, growing numbers of people are forecast to need products for orthoptics, such as eyeglasses, contact lenses and intraocular lenses, due to deterioration of vision with age. Demand for flexible endoscopes is also anticipated to rise as governments promote preventive screening to restrain growth in medical expenditures.
World Aging Population (65 and Over) Forecast
Source: United Nations, World Population Prospects 2022
Emerging countries’ improving living standards expands the market
Middle-class populations, especially in Asia, 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
Source: OECD DEVELOPMENT CENTRE Working Paper No. 285
THE EMERGING MIDDLE CLASS IN DEVELOPING COUNTRIES by Homi Kharas
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 deterioration of vision caused by longer screen times.
World Eyeglass Lens Market
More demand for minimally invasive medical treatment drives growth in the endoscope market
Medical expenses are increasing worldwide, along with aging of populations. To restrain medical costs, governments are recommending early detection of diseases and minimally invasive medical treatment. Need for the latter in particular is expanding, to minimize the physical toll on patients taken by invasive medical treatment. Flexible endoscopes, which allow physicians to diagnose and treat the patient without damaging the body, are strongly expected to fulfill such needs.
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
Extreme ultraviolet (EUV) lithography is a technology used to transfer semiconductor circuit pattern to a substrate using EUV 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.
Sales of HOYA Mask Blanks for EUV Lithography and Number of EUV Scanners Installed (Volume)
Nearline server application of glass disks for HDDs
Nearline storage is used for backup and archiving purposes. The market for nearline storage has continued to undergo significant growth to accommodate the global surge in data volume. Memory capacity per storage unit needs to be increased to improve the efficiency of server space in data centers. HOYA will meet such needs by proposing an increase in the number of disks mounted per HDD to customers based on thinner disks in an effort to increase disk shipment volume.
Trends in Data Traffic Volume
Data growth is accelerating on a global scale due to the progress of 5G, artificial intelligence (AI) and other technologies.
Source: HOYA’s data
Enterprise Exabyte Shipment Volume
HDDs will continue to play a central role in nearline storage in the future.
Source: HOYA’s data
In-vehicle camera lenses
The market for in-vehicle camera lenses is expected to grow, as they are expected to be used in sensors required for automated driving technology. We will absorb market growth by leveraging high-value-added glass materials and aspherical glass lenses, in which our strength lies.