Contact Lenses Market Rear Excessive Growth Estimated by Key Top Players Like Johnson & Johnson (US), Alcon, Inc. (US), Cooper Vision, Inc. (US), and Bausch + Lomb (US) - Overview of Daily Wear, Extended Wear and Decorative Lenses to 2023

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Report analyzes various types of contact lenses and their adoption pattern. It aims at estimating contact lenses market size & future growth potential of contact lenses market for different segments such as product type (model, design, material, color variation, and application), distribution channel,and region.

Contact lenses market is expected to reach USD 9.2 billion by 2023 from an estimated USD 7.2 billion in 2018, at a CAGR of 4.9%. Study involved four major activities to estimate current market size for contact lenses. Exhaustive secondary research was done to collect information on market, peer market, & parent market.

Premium Insights
1 Contact Lenses: Market Overview
2 Contact Lenses Market: Developed vs Developing Countries/Region (USD Million)
3 Contact Lenses Market: Major Countries
4 Geographic Mix: Contact Lenses Market
5 Asia Pacific: Contact Lenses Market, By Application and Countries

Major applications of corrective contact lenses market are correction of refractive errors & treatment of visual deficiencies such as hypermetropia/hyperopia, myopia, astigmatism, & presbyopia. Advancements, such as drug delivering lenses, in contact lens technology and increasing adoption trends in various regional markets are expected to drive contact lens market demand over forecast period. The rising number of visual inaccuracies is expected to further drive global market over the forecast period.

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Contact lenses market, by model, segmented into daily wear, extended wear, & traditional contact lenses. Daily wear contact lenses segment to dominate market in 2018. Large share of this segment can primarily be attributed to advantages offered by daily wear contact lenses, like easy wearability, no requirement of lens cleaning (in case of disposable daily wear contact lenses), & no requirement of overnight wear.

Technological Scenario
1 Key Technologies in the Contact Lenses Market
2 Hydraclear Technology
3 ASD Technology
4 Lacreon Technology
5 Peg Technology
6 PC Technology
7 Optimized Toric Lens Geometry Technology
8 Digital Zone Optics Lens Design Technology
9 Lightstream Lens Technology
10 Smart Contact Lens Technology
11 Light Intelligent/Adaptive Technology
12 Contact Lenses Market: Future Outlook

Contact lenses market is dominated by top four players, namely, Johnson & Johnson (US), Alcon, Inc. (US), Cooper Vision, Inc. (US), and Bausch + Lomb (US). Some of other key players in contact lenses market are Carl Zeiss Meditech AG (Germany), HOYA Corporation (Japan), Essilor Group (France), SEED Co., Ltd. (Japan), Menicon Co., Ltd. (Japan), and BenQ Materials Corporation (Taiwan).

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Contact lenses market is segmented into spherical, toric, multifocal, cosmetic, and monovision contact lenses. Multifocal contact lenses segment is expected to grow at the highest CAGR during forecast period. Multifocal contact lenses are used to treat myopia, hyperopia, presbyopia, and astigmatism (in some cases). These lenses are soft as they avoid the risk of infection and are designed to adjust at various site zones so as to avoid the use of extra eyeglasses along with multiple contact lenses.

Break of primary participants was as mentioned below:
• By Company Type – Tier 1–35%, Tier 2–40% and Tier 3–25%
• By Designation – C-level–35%, Director Level–45%, Others–20%
• By Region – North America–27%, Europe–26%, AsiaPacific–29.0%, Rest of the World–18%

Emerging countries such as China and India is expected to witness the highest CAGR during the forecast period. This growth can be attributed to the rapidly developing healthcare industry in China and India, growth in aging population, rising prevalence of myopia, rising per capita income, increasing investments in these countries by key market players, the expansion of private-sector hospitals & clinics to rural areas.

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