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Contact Lenses Market Growth 2020-2025 | Key players are CooperVision, Hoya Corporation, Novartis, Johnson & Johnson Vision, SynergEyes, Inc.

03-09-2020 06:17 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: global market insights

Contact Lenses Market

Contact Lenses Market

Change in the lifestyle of the consumers along with emerging fashion trends for aesthetic appearance will drive contact lenses market share in the forecast timeframe. Advancing technology has helped produce innovative products like colored or decorative lenses, that will propel the growth of the industry.

Global Contact Lenses Market was estimated at $ 9 billion in 2018 and is expected to hit $ 14 billion by 2025 with 6% CAGR during the forecast timeline.

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Advancing technology will allow the development of silicone hydrogel material which will further open new avenues for the manufacturers. Soft contact lenses industry segment has been estimated to grow at the rate of more than 9% CAGR over 2019-2025 owing to oxygen adaptability and permeability. Soft contact is essentially made from flexible and soft plastics like silicone hydrogel that offers enhanced comfort to eyes as well as easy adaptability.

The lenses are relatively less sensitive to light when compared to RGP and hard lenses and can fit into the eyes comfortably without falling out, being considered ideal for sports. Hydrogel material segment has been anticipated to account for more than 80% of the market share by the year 2025. Rising concerns for the reduction of hypoxia-related issues along with the increase in the consumer awareness pertaining to safety, daily wear and extended wear will fuel contact lenses market forecast.

Contact Lenses Market, By Design
o Spherical
o Toric
o Bifocal and Multifocal

Contact Lenses Market, By Product
o Corrective
o Therapeutic Lenses
o Cosmetic Lenses
o Coloured
o Circle
o Prosthetic Lenses

Contact Lenses Market, By Usage
o Daily Disposable
o Weekly Disposable
o Monthly Disposable
o Annual

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Independent brand showroom distribution channels held more than 25% of global contact lenses market share in 2018 on account of the ease in selecting from an extensive range of products under the brand. Such independent brand stores let consumers buy contact lenses and other products pertaining to eyewear all at a single place. The showrooms make sure that the consumers get the original product of their preferred contact lenses brands. Excellent consumer experience given to the consumers will develop brand loyalty and fuel the growth of the segment.

North America region accounted for more than 30% of contact lenses industry share in 2018 and is expected to grow significantly in the coming years. Monthly disposable contact lenses boast of more resistance to drying out compared to the daily disposable segment, as well as presents the best value in terms of price for the regular wearers. This will create profitable opportunities for the growth of this segment in countries like the U.S.

Key players are -

Bausch Health Companies Inc (Bausch + Lomb, Inc.), Blanchard Contact Lenses, Carl Zeiss Beteiligungs-GmbH, Conforma Laboratories, Inc., Contamac, CooperVision, ESSILORLUXOTTICA (Essilor International S.A), Hoya Corporation, Johnson & Johnson (Johnson and Johnson Vision Care), Menicon, Novartis AG, SynergEyes, Inc., UltraVision CLPL

Contact Us:
Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688

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.

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