The Infinium Global Research analyzes the report of Contact Lenses Market over the period of 2018 to 2024. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in Global Contact Lenses Market. It will help a lot of decision makers to develop strategies and find new opportunities in the Global markets of Contact Lenses.
The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Contact Lenses Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Contact Lenses Market are Johnson & Johnson, Novartis International AG, The Cooper Companies Inc., SynergEyes Inc., STAAR Surgical, Carl Zeiss AG, ABBott Medical Optics and Essilor International S.A. According to report the global contact lenses market is projected to grow at a CAGR of 7.5% over the forecast period of 2018-2024.
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Contact lenses are lens that are directly placed on the surface of the eye. This lens itself are naturally clear but is given slight color to make them easier for the wearer to handle. This can be used by the one who need vision correction and doesn’t want to wear eyeglasses full time. The contact lenses can be used for maximum of 10-12 hours per day and wearing the lenses for longer time may lead to red eyes or become prone to infection. Contact lens wearers can also wear goggles or other eye wear without worrying about the compatibility with glasses. Contact lenses are considered as medical devices and are regulated by food and drug admiration.
Growing number of ophthalmological disorders among patients is one of the main factor which is driving the growth of contact lenses market. In addition, rapid 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 positive impact on the contact lenses market. However, 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 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 contact lens market. 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 essential important in sports and driving, these are essentially favorite among athletes as it does not provide any obstruction. Also, rising health awareness for the better eye care and increasing geriatric population, are further supportive factor for market in North America region. Europe and Asia pacific are 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.
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 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.
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 a growth at a CAGR of x.x% over the period of 2018-2024.
Major Key Players Mentioned in this Premium Report
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..
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global contact lenses market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on 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 on 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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