Press release
Cosmetic Contact Lens Market Trend Analysis & Regional Outlook by 2024 | Cooper Vision, Qualimed, Novartis
Cosmetic Contact Lens Market
Shifting consumer fashion trends towards adoption of colored contact lenses will promulgate the industry growth. Upsurge in the popularity of products equipped with desirable customization & various attractive shades, textures, and colors for enhancement of eye appearance will propel the industry landscape. Substantial increase in the prevalence of online media, entertainment, and social media platforms will significantly drive the cosmetic contact lens market share from 2018 to 2024.
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Decorative contact lenses provide significant fashion style due to the addition of distinctive visual features. High usage of colored cosmetic lenses among the potential consumers including models, movie stars, and sports athletes will boost the product portfolio. Key features such as tiny colored lines and dots in various contact lenses will enhance the business growth. Wide color range availability such as hazel, blue, green, brown, violet, amethyst, and grey will further surge the cosmetic contact lens market growth.
Inclining consumer preferences towards eye color enhancement for improving overall appearance particularly in the fashion industry will be an impetus for market growth. Rapid technological advancements and increasing R&D investments by the potential manufacturers will drive the cosmetic contact lens market.
Key players in cosmetic contact lens market includes:
• Novartis
• Johnson and Johnson
• Ciba Vision
• Cooper Vision
• Bausch & Lomb (Valeant Pharmaceuticals)
• InnoVision
• Grand Vision
• Qualimed
• Metro Optics
• Lagado Corporation
Mergers and acquisitions along with significant joint ventures & strategic alliances are among the key strategies that will proliferate the product portfolio.
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Europe cosmetic contact lens market accounted for over USD 160 million in 2017. This can be credited to the prevalence of apparel & fashion sector in Germany, France and UK. Major fashion hub for movie actors, singers, and models coupled with a significant music videos influence will stimulate market growth. Shifting consumer trends towards fashion consciousness among young owing to the maintaining of social status will fuel the overall business expansion across the region.
Circle cosmetic contact lens market was valued at over USD 600 million in 2017. The product is used as a decorative lens that enlarges the eye size of the consumer. Increasing product demand in Japan, South Korea, and China owing to the high prevalence of manga & anime trends among youth will augment growth.
Rigid gas permeable cosmetic contact lens market will observe CAGR over 6% from 2018 to 2024. These lenses are primarily produced from the plastic material that are combined with other suitable materials. High oxygen permeability through these lenses during outdoor activities are among the key benefits enhancing the business growth.
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