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Contact Lenses Market: Growth opportunity and industry Revenue, Analysis by Key Players - Johnson & Johnson Services, Inc., CIBA Vision (Alcon), Cooper Vision, Inc.

02-14-2020 07:45 PM CET | Health & Medicine

Press release from: QUINCE MARKET INSIGHTS

Contact Lenses Market

Contact Lenses Market

Contact Lenses Market is estimated to reach USD XX billion by 2028

This detailed market study focuses on the data obtained from various primary and secondary sources and is analyzed using different tools. It helps in gaining insights about the potential of the market for growth which can facilitate the investors in identifying scope and opportunities. The analysis also provides details of each segment in the global Contact Lenses Market

According to the report Contact Lenses Market is expected to witness tremendous growth during the forecast period due to the growing prevalence of myopia, growing geriatric population, and increasing preference for contact lens over prescription eyeglasses. Market growth can also be attributed to the increasing incidences of optical disorders and disposable incomes. Macular degeneration is the third leading cause of visual impairment in the world according to a WHO survey. It is one of the most important causes of visual impairment in industrialized countries.

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Increasing R&D investments and technological advances in the optometry field are further driving the market growth. In November 2018 for instance, Seed Co. Ltd. created a contact lens in partnership with IMEC, consisting of LED light, silicon microchip, and a radiofrequency antenna. On the other hand, market shortages of qualified ophthalmologists and regulatory barriers are some of the factors that hold back market growth.

With an emphasis on both organic and inorganic growth strategies, there have been several primary developments done by major companies like Johnson & Johnson Services, Inc.,CIBA Vision (Alcon), Bausch & Lomb Incorporated, and Cooper Vision, Inc.

Segmentation for better understanding of this market and its growth prospects:
Contact Lenses Market has been divided based on Model, design, material, Application, distribution channel and region.

Based on material, the market has been divided into Silicon Hydrogel, Gas Permeable, Hybrid and PMMA. During the forecast period, the hybrid lens segment is expected to show lucrative growth. Rising incidences of astigmatism and keratoconus are driving hybrid lens demand. It is a permeable mixture of silicon hydrogel and steam.

Based on the design, the market comprises Spherical, Toric, Multifocal/Bifocal and Cosmetic. Spherical contact lenses projected the largest market share due to the higher use of these lenses by optometrists and patients for the treatment of myopia or hyperopia during the forecast period. The growing prevalence of myopia around the world is expected to drive the growth of this market segment.

This report provides:

1) An overview of Global Contact Lenses Market globally and related technologies.

2) Analysis of global market trends, estimates of each year and annual compound growth rate projections (CAGRs).

3) Identification of new market opportunities and targeted promotion plans for Global Contact Lenses Market.

4) Discussion of R&D and demand for new products and new applications.

5) Comprehensive company profiles of key industry players.

The researchers have studied the market in-depth and have come up with major segments like product type, application and region. Based on their market share, growth prospects, and CAGR, each and every segment and its sub-segments are studied. Each market segment offers in-depth information on market outlook, both qualitative and quantitative.

Regional segmentation and analysis to understand growth patterns:

The market has been segmented in major regions to understand the global development and demand patterns of this market.

North America projected to register the biggest market share during the forecast period. The increasing prevalence of age-related eye disorders, increased healthcare spending increased disposable income and technological advances in contact lenses and related products are some of the key factors driving market growth in North America.

The Asia Pacific also expected to register substantial growth during the forecast period due to government policies that have been favorable for the growth of the healthcare sector in these regions.

This region has seen global companies making strategic investments to cater for the growing demand in recent years.

During the forecast period, other regions including the Middle East, Eastern Europe, and the rest of the world are estimated to be the emerging Contact Lenses markets.

Key Factors Impacting Market Growth:

o Contact lenses progressively preferred

o Growing regulations overproductions and distributions

o Growing prevalence of myopia

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Market Segmentation:

By Model:
o Daily Wear Contact Lens
o Extended Wear Contact Lens
o Traditional Wear Contact Lens

By Design:
o Spherical Contact Lens
o Toric Contact Lens
o Multifocal/Bifocal Contact Lens
o Cosmetic Contact Lens

By Material:
o Silicone Hydrogel Contact Lens
o Gas-permeable Contact Lens
o Hybrid Contact Lens
o Polymethyl Methacrylate (PMMA) Contact Lens

By Application:
o Therapeutic
o Cosmetic
o Prosthetic
o Lifestyle-oriented

By Distribution Channel:
o Retail Stores
o Eyecare professionals /Hospitals/Ophthalmic Clinics
o E-commerce /Online Pharmacies

By Region:

North America
o By Country (US, Canada, Mexico)
o By Model
o By Design
o By Material
o By Application
o By Distribution Channel

Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Model
o By Design
o By Material
o By Application
o By Distribution Channel

Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Model
o By Design
o By Material
o By Application
o By Distribution Channel

Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Model
o By Design
o By Material
o By Application
o By Distribution Channel

Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Model
o By Design
o By Material
o By Application
o By Distribution Channel

Rest of the World
o By Region (South America, Africa)
o By Model
o By Design
o By Material
o By Application
o By Distribution Channel

Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: +91 - 9850603687 / 7972869557

QMI has the most comprehensive collection of market research products and services available on the web. We deliver reports from virtually all major publications and refresh our list regularly to provide you with immediate online access to the world's most extensive and up-to-date archive of professional insights into global markets, companies, goods, and patterns.

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