Press release
Contact Lenses Market Outlook and Analysis to 2024 – Leading Top Companies are Valeant Pharmaceuticals, Johnson & Johnson, Bausch & Lomb, Novarti, Hoya, Essilor, SynergEyes, Inc., CooperVision
Contact Lenses Market
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.
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Contact Lenses Market size is estimated to exceed USD 18 billion by 2024; according to a new research report by Global Market Insights, Inc. 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.
- Contact Lenses Industry, By Distribution Channel
• Optical stores
• Independent brand showrooms
• Online stores
• Retail stores
• Others
- Contact Lenses Market, By Type
• RGP
• Soft contact
• Hybrid contact
- Contact Lenses Market, By Design
• Spherical
• Toric
• Bifocal and multifocal
• Others
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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.
Rigid Gas Permeable (RGP) was valued at over USD 2.5 billion in 2016. Factors such as high oxygen permeability, sharp vision, durability and cost in the long run are stimulating product demand.
Polymer material segment will observe gains at 2.9% up to 2024. Low material & fabrication cost and high impact resistance are key factors supporting the contact lenses industry growth. High optical quality, light weight and less resistant to shattering will provide the positive outlook to this segment’s demand.
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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. 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.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
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