Contact Lenses Trends, Application, demand, 2019 -Global Cnotact Lenses Market: Information by Wear Type (Daily Disposable Lenses, Disposable Lenses, Frequent Replacement Lenses and Conventional Lenses), by Type (Corrective Lens, Therapeutic Lenses and Cosmetic and Lifestyle Oriented Lens), by Material (Silicone Hydrogel Soft Contact Lens, Methacrylate Hydrogel Soft Contact Lens, Gas-Permeable Contact Lens and others), by Design (Spherical Lens, Toric Lens, Multifocal Lens and others) and by Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) – Forecast till 2025
Contact Lenses Market Insights
Market Research Future has anticipated that the contact lenses market would attain a CAGR of 5.70% during the forecast period, 2017-2023.
The prominent factors depicting the growth trend of the global contact lenses are the growing occurrence of eye disorders and visual impairments, and technological progress in the field of ophthalmology. However, the side-effects linked with the usage of contact lenses is predicted to restrain the market growth during the forecast period.
Contact lenses are majorly preferred for treating refractive errors such as myopia, astigmatism, hyperopia, and presbyopia, thus growing adoption of contact lenses for correcting the multiple vision defects is expected to propel the global contact lenses market in the coming period.
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Contact Lenses Market Segmentation
The global contact lenses market is broadly segmented into type, function, material, and design.
On the basis of wear type, the global market is bifurcated into daily disposable lenses, conventional lenses, disposable lenses, and frequent replacement lenses.
The global contact lenses market is also segmented based on the function into therapeutic lenses and cosmetic, corrective lens, and lifestyle-oriented lens.
Based on the material, the global contact lenses market is classified into methacrylate hydrogel soft contact lens, gas-permeable contact lens, and silicone hydrogel soft contact lens.
Moreover, the design segment is divided into the spherical lens, multifocal lens, and toric lens.
Contact Lenses Market Regional Insights
The Americas is expected to acquire a noteworthy share in the global contact lenses market. Growing population using contact lens, trend of cosmetic lens among the millennials, occurrence of eye-related diseases, and increase in occurrences of eye-related diseases are some of the major factors accounted for the growth of the global contact lenses market. Moreover, increased R&D based investment in Canada and is expected to motivate the growth of the Americas during the forecast period.
The Europe market reported considerable growth in the market due to the high inclination towards contact lenses and increasing cases of age-linked eye disorders in regions such as France, the UK, Spain, and Germany.
Asia-Pacific is valued to be the fastest-growing region in the global market due to the increasing prevalence of eye disorders and rising adoption of contact lens among the youth. Additionally, rising investments by major players in the market in the Asia-Pacific region is likely to drive the growth of the market.
Moreover, the Asia Pacific market for contact lenses is projected to grow rapidly growing investment by major players in the region for expansion and to set up production facilities.
The Middle East & Africa is anticipated to show moderated growth trends owing to spreading awareness about the contact lenses and an increase in the number of agreements and collaboration for contact lenses commercialization.
Contact Lenses Market Major Players
Industry players are aggressively focusing on the advancement of the products and stay competitive in the global market. The major players driving the global contact lenses market include Hoya Corporation, Neovision Co, Ltd, Camax Optical Corp., Oculus Private Limited, Shine Optical Co., Ltd., Johnson & Johnson Servics Inc., Seed Co. Ltd, CooperVision, Inc., Novartis AG, Johnson & Johnson Services Inc., and Bausch Health among others.
On August 2019, CooperVision, a contact lenses manufacturer since 1980 turned out to be leading name for healthier contact lenses. CooperVision has been operating behind all the characteristics of the around $12 billion-valued global contact lens market. The company has taken several complications while in making contact lenses, that at the end, are regulated medical devices. While the CooperVision’s establishment year is 1980, at present owns two independent business units. The other company is known as CooperSurgical.
List of Tables
TABLE 1 MARKET SYNOPSIS 16
TABLE 2 GLOBAL CONTACT LENSES MARKET, BY WEAR TYPE, 2016–2025 (USD MILLION) 31
TABLE 3 GLOBAL CONTACT LENSES MARKET VOLUME, BY WEAR TYPE, 2016–2025 (UNITS) 31
TABLE 4 GLOBAL CONTACT LENSES MARKET, FOR DAILY DISPOSABLE LENSES, BY REGION, 2016–2025 (USD MILLION) 32
TABLE 5 GLOBAL CONTACT LENSES MARKET, FOR DISPOSABLE LENSES (TWO WEEKS OR SOONER), BY REGION, 2016–2025 (USD MILLION) 33
TABLE 6 GLOBAL CONTACT LENSES MARKET, FOR FREQUENT REPLACEMENT LENSES (MONTHLY OR QUARTERLY), BY REGION, 2016–2025 (USD MILLION) 33
TABLE 7 GLOBAL CONTACT LENSES MARKET, FOR CONVENTIONAL LENSES, BY REGION, 2016–2025 (USD MILLION) 34
TABLE 8 GLOBAL CONTACT LENSES MARKET BY TYPE, 2016-2025 (USD MILLION) 36
TABLE 9 GLOBAL CONTACT LENSES MARKET FOR CORRECTIVE LENS, BY REGION, 2016-2025 (USD MILLION) 37
TABLE 10 GLOBAL CONTACT LENSES MARKET FOR THERAPEUTIC LENSES, BY REGION, 2016-2025 (USD MILLION) 37
List of Figures
FIGURE 1 GLOBAL CONTACT LENSES MARKET: MARKET STRUCTURE 18
FIGURE 2 RESEARCH PROCESS OF MRFR 19
FIGURE 3 TOP-DOWN & BOTTOM-UP APPROACH 22
FIGURE 4 MARKET DYNAMICS ANALYSIS OF GLOBAL CONTACT LENSES MARKET 23
FIGURE 5 SUPPLY CHAIN: CONTACT LENSES MARKET 27
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS OF THE GLOBAL CONTACT LENSES MARKET 28
FIGURE 7 GLOBAL CONTACT LENSES MARKET, BY WEAR TYPE, 2018 & 2025 (USD MILLION) 30
FIGURE 8 GLOBAL CONTACT LENSES MARKET, BY TYPE, 2018 (% SHARE) 35
FIGURE 9 GLOBAL CONTACT LENSES MARKET, BY TYPE, 2018 & 2025 (USD MILLION) 36
FIGURE 10 GLOBAL CONTACT LENSES MARKET, BY MATERIAL, 2018 (% SHARE)