The Report of “Contact Lenses Market” Research Future Covers the Information like Market Growth, Prominent Players and Contact Lenses Market Segmentation is divided into Product, end-user and Regions.
The Market Research Future (MRFR) report on the global contact lenses market states that the market which valued USD 7.9 Billion in 2017, can touch an impressive valuation of USD 11 Billion by 2023. The contact lenses market is to capitalize with an impressive CAGR between 2018 and 2023, predicts MRFR.
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The growing cases of sight disorders like myopia, hypermetropia, and others are expected to boom the contact lenses market growth. Where, technological advancements are aiding in making our life easy, continuous working with laptops can induce vision impairment due to the radiation emitted by it. In children, watching excessive television or playing video games, a significant facet of today’s sedentary life can also cause eye problems. The greater prevalence of the aforementioned factors is anticipated to spur the contact lenses market growth.
The ease and flexibility offered by contact lenses make the wearing of contact lenses convenient. This benefit of contact lenses is popularizing it among large number of people. Adding on, the aesthetic appeal contact lenses provide over specks is also expected to propel the contact lenses market growth over the forecast period.
MRFR has enlisted some of the prominent companies which are operating in the global contact lenses market. They are Johnson & Johnson, Novartis AG, CLEARLAB SG PTE, LTD, CooperVision, Inc., Hoya Corporation, Menicon Co., Ltd, Bescon Co., Ltd, Seed Co. Ltd, BAUSCH + LOMB, NEOVISION CO, LTD, CAMAX OPTICAL CORP, Oculus Private Limited, and St. Shine Optical Co., Ltd.
The contact lenses market study has been segmented on the basis of type, designs, and materials. .
Based on the type, the contact lenses market has been segmented into corrective lenses, therapeutic lenses, and cosmetic and lifestyle oriented lens.
Based on the materials, the contact lenses market has been segmented into methacrylate hydrogel soft contact lens, gas-permeable contact lens, silicone hydrogel soft contact lens, and others.
Based on the design, the contact lenses market has been segmented into toric, spherical, and multifocal, and others.
Based on the region, the contact lenses market has been studied across Europe, Asia Pacific, North America, and the Rest of the World (RoW)
The North American contact lenses market is accounted for an impressive growth over the assessment period. North America is projected to lead in the global contact lenses market in terms of revenue generated. Due to the surging cases of ophthalmic disorders in the region, the contact lenses market is likely to demonstrate an escalation in its growth. Another reason that can bolster the regional market growth is the inclination of youngster towards enhanced aesthetic appearance. The growing geriatric populace is also accounted for the contact lenses market to surge. Moreover, the existence of prominent market players in North America and their initiatives to launch new products is expected to widen the platform for the contact lenses market to grow.
After North America, Europe is predicted to hold the largest market share. Followed by, the Asia Pacific region. Over the review period, the European contact lenses market is anticipated to register a considerable market valuation.
The surge in research and developmental undertakings, approval for new product launches, increasing cases of eyesight disorders, and escalation in the number of middle-aged and geriatric populace are factors, which have been identified by MRFR that can boost the regional market growth. Furthermore, the sprawling awareness about effective and advanced healthcare facilities and market key players making strong effort to expand their business are also expected to shoot up the contact lenses market growth in the Europe over the evaluation period.
The contact lenses market in the Asia-Pacific region to demonstrate an excellent growth over the review period. The contact lenses market in Europe is observed to emerge rapidly. The increase in cases of eye disorder and growing number of geriatric populace are also likely to be responsible to bolster the regional contact lenses market. Additionally, the availability of variety of options at an affordable price can spur the regional contact lenses market growth. Moreover, the availability of materials for production of different types of lenses and presence of sturdy production base are expected to escalate the APAC market growth.
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