Contact Lenses Market 2024 Global Analysis By key Players – Cooper Vision, Johnson & Johnson, Novartis, Valeant Pharmaceuticals, Blanchard, Contamac, Hoya, Essilor, Conforma, Bausch & Lomb, Menicon and Wesley Jessen

Germany accounts for over 50% of the overall contact lenses market share in monthly disposable usage segment. More resistance to drying out relative to daily disposable segment and offers best value in price for the regular wearers which anticipated to provide lucrative opportunities for this segment’s growth.

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Contact Lenses Market size is estimated to exceed USD 18 billion by 2024. Increasing popularity of contact lenses as a fashion accessory to provide aesthetic appearance, especially among youngsters is a key factor driving contact lenses industry growth. Ongoing technological advances in the product materials and capabilities along with rising trend of decorative or colored lenses will support product demand.

Globally, rise in instances of visual deficiencies such as presbyopia, astigmatism, myopia and hypermetropia/hyperopia will propel contact lenses market. In 2015, WHO estimated that myopia has affected around 1.9 billion people worldwide and it is projected to affect over 2 billion people by 2020.

High profit margins provided by the contact lenses industry will lure manufacturers and vendors to boost the product’s manufacturing & improving supply chain network for the higher profit margins. Technological advancement in form of silicone hydrogel material will create new avenues for manufacturers.

North America contact lenses industry will grow at 3.2% up to 2024. The growth is mainly driven by growing geriatric population and presence of numerous international brands. Other factors such as digital technology integration with the contact lenses will also augment the industry size.

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APAC contact lenses industry was valued at over USD 2 billion in 2016. Changing lifestyle and growing eye health conciseness among people are the key drivers influencing the industry demand.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Cooper Vision
2. Johnson Johnson
3. Novartis
4. Valeant Pharmaceuticals
5. Blanchard Contact Lenses
6. Zeiss International
7. Conforma
8. Contamac
9. Essilor
10. Hoya
11. Menicon
12. Wesley Jessen
13. UltraVision
14. Synergeyes
15. Bausch Lomb

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Global industry is competitive owing to the presence of few industry players holding majority of the contact lenses market share. Some of major players include Cooper Vision, Johnson & Johnson, Novartis, Valeant Pharmaceuticals, Blanchard, Zeiss International, Bausch & Lomb and Hoya.
Companies are anticipated to compete to capture a bigger share in global contact lenses market. New product launch, mergers, acquisitions and agreements are the growth strategies adopted by the key manufacturers.

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