Contact Lenses Market Size, Growth, Trends, Analysis by Wear Type (Daily Disposable Lenses, Disposable Lenses, Frequent Replacement Lenses and Conventional Lenses), Type (Corrective Lens, Therapeutic Lenses and Cosmetic and Lifestyle Oriented Lens), Material (Silicone Hydrogel Soft Contact Lens, Methacrylate Hydrogel Soft Contact Lens, Gas-Permeable Contact Lens), by Design (Spherical Lens, Toric Lens, Multifocal Lens) – Industry Report, New contact lenses technology 2021, Share by Top Compnaies, Forecast till 2027
Contact Lenses Market-Overview
The uptick in cases of myopia is estimated to enhance the contact lenses market share in the coming period. The market’s report is efficiently analyzed as per MRFR, which provides outlooks for the global markets. A CAGR of 5.70% is estimated to foster revenues worth USD 12,330.46 Million by 2025.
The surge in preference for colored contact lenses is foreseen to enhance the contact lenses market in the impending period. Furthermore, the surge in the use of contact lenses for cosmetic purposes is predicted to strengthen the global contact lenses market in the course of the forecast period.
Contact Lenses Market Segmental Analysis
The segmental scrutiny of the contact lenses market is carried out on the basis of wear type, type, material, region, and design. The design of the contact lenses market consists of spherical lenses, toric lenses, multifocal lenses, and others. The wear type segment of the contact lenses market consists of disposable lenses, frequent replacement lenses, daily disposable lenses, and conventional lenses. The type segment of the contact lenses market consists of therapeutic lenses, corrective lenses, and cosmetic and lifestyle-oriented lenses. The material segment of the contact lenses market consists of silicone hydrogel soft contact lens, gas-permeable contact lens, and methacrylate hydrogel soft contact lens. The region segment of the contact lens market consists of the Americas, Europe, North America, the Middle East, and Africa.
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Contact Lenses Market Regional Overview
The regional overview of the contact lenses market consists of the Americas, Europe, North America, the Middle East, and Africa. The Americas regional market rules the worldwide contact lenses market due to the growing number of contact lens wearers, rising occurrence of eye-related diseases, and the increasing endorsement of the cosmetic lens in the youth segment. The European region’s market holds the second leading market share due to the imminent implementation of contact lenses and snowballing incidences of age-related eye illnesses. The Asia-Pacific regional market is projected to be the fastest increasing region globally due to the growing pervasiveness for eye illnesses and growing approval of contact lenses in the youth segment. Moreover, the multinational businesses moving towards the emerging nations and setting operational set-ups are expected to push the growth of the contact lenses market. The Middle Eastern regional market is likely to control the contact lenses market growth, accredited to influences such as emerging healthcare infrastructure, growing affiliations or arrangements to commercialize contact lenses, prosperous medical travel, rising healthcare business, and intensifying knowledge about contact lenses.
Contact Lenses Market Competitive Analysis
The financial stimulus being provided by many government bodies to regenerate their national markets is estimated to spur the global progress rate. The agreement of various international trade deals is estimated to further foster the expansion of the market. The capitalization by market companies to establish robust e-commerce and retail channels is projected to motivate the development of the market. The improvement in the rate of innovation is estimated to further open up new aspects of the market. The engagement of technology and strategy-based approach is likely to ensure better chances for success in the future. The market is likely to be lifted by the reformative trends that are shaping the global market. The development of robust delivery chains is predicted to enhance the pace of progress in the upcoming months. The increased emphasis on high-revenue decision-making in the market is estimated to prompt its quicker return to normalcy in the coming months.
The promising companies in the contact lens market are Novartis AG, Neovision Co, Ltd, CooperVision, Inc. (The Cooper Companies Inc.), Bausch Health, Johnson & Johnson Services Inc., Seed Co. Ltd, Menicon Co., Ltd, Oculus Private Limited, Camax Optical Corp., Hoya Corporation, and St. Shine Optical Co., Ltd.
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Contact Lenses Industry Updates:
June 2021 A fresh FDA-approved reshaping contact lens has been developed to modify childhood myopia. Johnson & Johnson has advanced Abiliti Overnight Therapeutic Lenses to prevent the disorder, which exploits fitting software to outline the eye’s corneal structure and refraction error. This material helps clinicians precisely degree the corneal shape so that the lens can help redesign the wearer’s cornea when used instantaneously.
May 2021 Innovega Inc. has recently filed four novel patent applications for automated systems to allow eye care doctors to professionally and reliably fit contact lenses and virtual reality (VR) and augmented reality (AR) display-equipped eyewear. The four uses describe the apparatus and approach for image detection and capacities essential for fitting eyewear and contact lenses.
Table of Content
1 Executive Summary
2 Market Introduction
2.1 Definition 17
2.2 Scope Of The Study 17
2.3 Market Structure 18
3 Research Methodology
3.1 Research Process 19
3.2 Primary Research 20
3.3 Secondary Research 21
3.4 Market Size Estimation 22
3.5 Forecast Model 22
4 Market Dynamics
4.1 Introduction 23
4.2 Drivers 24
4.2.1 Increasing Prevalence Of Visual Inaccuracies And Eye Disorders 24
4.2.2 Changing Lifestyle 24
4.2.3 Technological Advancements 25
4.3 Restraints 25
4.3.1 Contact Lens — Related Complications 25
4.4 Opportunities 26
4.4.1 Strong Product Demand To Change Aesthetic Appearance (Cosmetic Lenses) 26
5 Market Factor Analysis
5.1 Supply Chain Analysis 27
5.1.1 R&D 27
5.1.2 Parts Manufacturing 27
5.1.3 Distribution 27
5.1.4 Marketing & Sales 27
5.1.5 Post-Sales Monitoring 28
5.2 Porter’s Five Forces Model 28
5.2.1 Bargaining Power Of Suppliers 29
5.2.2 Bargaining Power Of Buyers 29
5.2.3 Threat Of New Entrants 29
5.2.4 Threat Of Substitutes 29
5.2.5 Intensity Of Rivalry 29
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