The Report of “Contact Lenses Market” Research Future Covers the Information like Market, Prominent Players and Contact Lenses Market Segmentation, Regional Outlook, End-User and Forecast to 2023.
Contact Lenses Market Global Players:
Some of the prominent players in the global Contact Lenses market are CooperVision, Inc., CLEARLAB SG PTE, Seed Co. Ltd, Menicon Co., Ltd, BAUSCH + LOMB, NEOVISION CO, LTD, Johnson & Johnson, CAMAX OPTICAL CORP, St. Shine Optical Co., Ltd., Novartis AG, LTD, Oculus Private Limited, Hoya Corporation, and Bescon Co., Ltd.
Contact Lenses Market Global Overview:
The Global Contact Lenses Market is projected to strikingly increase from USD 7.9 Billion in 2017 to USD 11 Billion by 2023 with a CAGR of 5.70%. Contact lenses have become a highly popular medical device over the years, and the market is only slated to expand further in the forthcoming years. The growing acceptance of contact lenses has led to an influx of manufacturers into the market who are time and again developing multiple categories of lenses. This, in turn, is widening the product range and aiding the market expansion. Contact Lenses are even recommended for non-surgical management of numerous eye-related diseases. The factors as mentioned above are most likely to shape the course of the global contact lenses market and steer its growth trajectory.
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Contact Lenses are a lightweight, cosmetic or medical device that is worn directly over the cornea of one’s eyes. Similar to eyeglasses, contact lenses help correct the refractive errors by adding or subtracting the focus power to the cornea and lens of the eyes. It has various benefits for the wearers, including its ability to enhance the appearance and practicality. With eye-related issues being extremely common these days, a striking 24 million people wear contact lenses in the United States alone. When used with proper care and supervision, the lenses provide a highly safe and effective method of correcting an individual’s vision. Many people prefer wearing contact lenses as opposed to spectacles due to a number of reasons; contact lenses do not steam up, they are much more suitable for sports or any other physical activities and provide a wider field of vision. The lenses vary in terms of wear time, construction material, replacement schedule, and design.
The geographical market segmentation of the global Contact Lenses market is divided into five major regions of the world: Europe, Asia-Pacific, North America, the Middle East & Africa, and Latin America.
The Americas hold a dominant portion of the market share primarily due to the increasing population of consumers using contact lenses, rapid implementation of cosmetic lenses among the youth, and growing eye-related issues.
Europe comes second in the market share standings due to its established healthcare sector and increased expenditure in healthcare. Another contributor to the market during the forecast period is the substantial research & development investments by private and government organizations.
The Asia-Pacific region is anticipated to be the fastest growing market, with an expected CAGR of 6.2% during the assessment period.
Contact Lenses Market Segmental Analysis:
The contact lenses market globally is segmented on the basis of material, design, and type. The segmentation of the market on the basis of material comprises of methacrylate hydrogel soft contact lens, gas-permeable contact lens, silicone hydrogel soft contact lens, and others. The silicone hydrogel soft contact lens is expected to hold a prime market share of 66.2 percent in the duration of the review period, and it is also projected to develop at a CAGR of 5.61 percent during the forecast period. On the basis of design, the market is segmented into toric, spherical, multifocal, and others.
The spherical segment holds the chief market share of 55.1 percent in the forecast period, and it is also anticipated to develop with a rapid CAGR of 5.57percent during the forecast period. Contact Lenses Market is segmented on the basis of type, into therapeutic lenses, corrective lens, and cosmetic & lifestyle oriented lens. The corrective lens type holds the maximum market segment of 43.4 percent over the forecast period, and it is also projected to develop at a CAGR of 5.22 percent throughout the forecast period.
1 Report Prologue
2 Executive Summary
3 Market Introduction
4 Research Methodology
5 Market Dynamics
6 Market Factor Analysis
7 Global Contact Lenses Market, by Type
8 Global Contact Lenses Market, by Material
9 Global Contact Lenses Market, by Design
10 Global Contact Lenses Market, by Region
11 Competitive Landscape
12 Company Profiles
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