The global “contact lenses market” size is projected to reach USD 12.05 billion by 2026, exhibiting a CAGR of 4.8% during the forecast period. However, the market was worth USD 8.35 billion in 2018. This information is published in a recent report by Fortune Business Insights, titled, “Contact Lenses Market Size, Share & Industry Analysis, By Modality (Reusable and Disposable), By Design (Toric, Multi-Focal, and Spherical), By Distribution Channel (Retail Stores, Online Stores, and Ophthalmologists), and Regional Forecast, 2019-2026.” As per the report, rising per capita healthcare expenditure and increasing incidence of astigmatism and myopia are expected to affect the market positively.
Leading Players operating in the Contact Lenses Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Contamac
- CooperVision
- HOYA Corporation
- Essilor
- Bausch & Lomb Incorporated
- Johnson & Johnson Vision Care, Inc. (Johnson & Johnson Services, Inc.)
- ZEISS International
- Alcon Vision LLC
- Other key market players
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Asia Pacific to Exhibit Rapid Growth Fueled by Rising Disposable Income
The contact lenses market can be geographically grouped into the Middle East & Africa, North America, Asia Pacific, Latin America, and Europe. Out of them, North America is set to dominate the market during the forecast period. It was valued at USD 2.75 billion in 2018. This growth is attributed to the rising usage of contact lenses amongst the masses as well as increasing prevalence of presbyopia. The Centers for Disease Control and Prevention (CDC) mentioned that in the U.S., around 45 million people use contact lenses.
Asia Pacific, on the other hand, is expected to remain in the second position owing to gradual inclination of the masses to disposable contact lenses from reusable contact lenses. Also, various market players are launching novel products day by day in this region. It is also giving rise to market growth. The region is projected to experience rapid growth in the coming years owing to the rising trend of wearing contact lenses amongst the youngsters for correcting vision errors. Moreover, the increasing awareness programs regarding the benefits of using contact lenses, rising disposable income, and availability of lenses on online platforms would also contribute to the demand for contact lenses in this region.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Epidemiology of Ocular Disease – For Key Countries/Key Regions
- Key Industry Developments – Mergers, Acquisitions, and Partnerships
- Key Trends in Contact Lenses Market
- Technological Advancements in Contact Lenses
- Global Contact Lenses Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Modality
- Reusable
- Disposable
- Market Analysis, Insights and Forecast – By Design
- Toric
- Multifocal
- Spherical
- Market Analysis, Insights and Forecast – By Distribution Channel
- Ophthalmologists
- Retail Stores
- Online Stores
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Contact Lenses Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis – By Modality
- Reusable
- Disposable
- Market Analysis – By Design
- Toric
- Multifocal
- Spherical
- Market Analysis – By Distribution Channel
- Ophthalmologists
- Retail Stores
- Online Stores
- Market Analysis – By Country
Continued…
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/contact-lenses-market-101775
Market Segmentation:
By Modality
- Reusable
- Disposable
By Design
- Toric
- Multifocal
- Spherical
By Distribution Channel
- Retail Stores
- Online Stores
- Ophthalmologists
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Reasons to Purchase this Report:
- Comprehensive analysis of the Contact Lenses Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
KEY QUESTIONS ANSWERED:
- What are the key technological and Contact Lenses Market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- Why Choose Fortune Business Insights?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Contact Lenses Market growth?
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