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Contact Lenses Market (Technology - Spin Casting, Cast Molding, and Lathe Cutting; Product - Soft Lens and Gas Permeable (GP) Lens; Design - Spherical, Toric, Multifocal, and Others): Global Industry Analysis, Trends, Market Size and Forecasts to 2024

  • Published : July, 2018

  • Rep Id : CGP0049

  • Category : Consumer Goods and Packaging

  • Status : Published

This report provides exclusive insights into the COVID-19 impact on the Contact Lenses Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Contact Lenses Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Contact Lenses Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.

A recent report published by Infinium Global Research on contact lenses market provides an in-depth analysis of segments and sub-segments in global as well as regional contact lenses market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional contact lenses market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global contact lenses market. According to the report, the global contact lenses market is projected to grow at a CAGR of 7.5% over the forecast period of 2018-2024.


Contact Lenses Market

 
Market insight

Contact lenses are the lens that is directly placed on the surface of the eye. This lens itself is naturally clear but is given slight color to make them easier for the wearer to handle. This can be used by the one who needs vision correction and doesn’t want to wear eyeglasses full time. The contact lenses can be used for a maximum of 10-12 hours per day and wearing the lenses for a long time may lead to red eyes or become prone to infection. Contact lens wearers can also wear goggles or other eyewear without worrying about the compatibility with glasses. Contact lenses are considered as medical devices and are regulated by the food and drug admiration.

 

Growing number of ophthalmological disorders among patients is one of the main factors which is driving the growth of the contact lenses market. In addition, the rapidly increasing population in order to increase the Aesthetics and cosmetics appearance among the youngster are fueling the demand for contact lens. Moreover, research and development activities, improving healthcare infrastructure and rising disposable income over the globe are expected to trigger the adoption of the contact lenses. Increasing occurrence of eye related disorder such as hyperopia, astigmatism and myopia likely to have a positive impact on the contact lenses market. However, the use of contact lenses causes eye related risk such as corneal ulcers, eye infection and increasing acceptance of corrective procedures like LASIK are restraining the growth of the contact lenses market. Going further, the technical advancement such as electronic contact lens (ECLs) is anticipated to provide growth opportunities for the contact lens market over the forecast period.

 

North America has accounted to be the leading region in the contact lens market. The U.S accounts for the major share in the North America contact lenses market owing to factors such as growing vision problem among young generation and enhancement of aesthetic appearance. Contact lenses are essentially important in sports and driving, these are essentially favorite among athletes as it does not provide any obstruction. Also, rising health awareness for better eye care and increasing geriatric population, are a further supportive factor for the market in the North America region. Europe and Asia-Pacific are the second and third prominent region in this market. Increasing disposable income along with economic growth is the key factor providing growth opportunities in the Asia-Pacific region.in addition, developing countries such as India and Middle East countries is projected to open new avenues for regional industry growth.

 

Segment Covered

The report on global contact lenses market covers segments such as technology, product, and design. On the basis of technology the global contact lenses market is categorized into spin casting, cast molding, and lathe cutting. On the basis of the product, the global contact lenses market is categorized into soft lens and gas permeable (GP) lens. On the basis of design the global contact lenses market is categorized into spherical, toric, multifocal and others.

 

Geographic Coverage

The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.

 
Companies Profiled:

The report provides profiles of the companies in the global contact lenses market such as Valeant Pharmaceuticals, Menicon Group, Johnson & Johnson, Novartis International AG, The Cooper Companies Inc., SynergEyes Inc., STAAR Surgical, Carl Zeiss AG, ABBott Medical Optics and Essilor International S.A.

 
Report Highlights:

The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global contact lenses market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of contact lenses market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the contact lenses market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the contact lenses market to understand the present and future trends in this market and formulate their strategies accordingly.


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