Global Contact Lenses Market: Worldwide Industry Analysis and New Market Opportunities Explored

Our latest research report entitled Contact Lenses Market (by technology (spin casting, cast molding and lathe cutting), product (soft lens and gas permeable (GP) lens) and design (spherical, toric, multifocal and others)) provides complete and deep insights into the market dynamics and growth of contact lenses. The latest information on market risks, industry chain structure contact lenses cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential contact lenses growth factors. 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.

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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 a maximum of 10-12 hours per day and wearing the lenses for a longer 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.

A growing number of ophthalmological disorders among patients is one of the main factor which is driving the growth of 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 the occurrence of eye-related disorders 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 risks 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.

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North America has Accounted to be the Leading Region in Contact Lens Market

North America has accounted to be the leading region in 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 problems among the 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 further supportive factors for the market in the North America region. Europe and the Asia Pacific are the second and third prominent regions in this market. Increasing disposable income along with economic growth is the key factor providing growth opportunities in the Asia Pacific 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 the 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.

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..

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Report Highlights:

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, the 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 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.