Why the Contact Lenses Market is set to explode? Top Companies: Contamac, CooperVision, HOYA Corporation, Essilor, Bausch & Lomb Incorporated, Johnson & Johnson Vision Care, Inc. (Johnson & Johnson Services, Inc.), ZEISS International, Alcon Vision LLC

The global contact lenses market size is projected to reach USD 12.05 billion by 2026, exhibiting a CAGR of 4.8% during the forecast period. However, the market was worth USD 8.35 billion in 2018. This information is published in a recent report by Fortune Business Insights, titled, "Contact Lenses Market Size, Share & Industry Analysis, By Modality (Reusable and Disposable), By Design (Toric, Multi-Focal, and Spherical), By Distribution Channel (Retail Stores, Online Stores, and Ophthalmologists), and Regional Forecast, 2019-2026." As per the report, rising per capita healthcare expenditure and increasing incidence of astigmatism and myopia are expected to affect the market positively.

The report provides market analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product & service launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.

Key Features of Contact Lenses Market Report:

Overview, Industry Life Cycle Analysis, Supply Chain Analysis
Size, Trends, Growth Drivers, Constraints, SWOT Analysis, Forecast Analysis
Competitive Landscapes: Market Share, Product Portfolio, New Product Launches, etc.
Market attractiveness and Associated Growth Opportunities
Strategic Growth Opportunities for the Existing and New Players
Key Success Factors

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Asia Pacific to Exhibit Rapid Growth Fueled by Rising Disposable Income

The contact lenses market can be geographically grouped into the Middle East & Africa, North America, Asia Pacific, Latin America, and Europe. Out of them, North America is set to dominate the market during the forecast period. It was valued at USD 2.75 billion in 2018. This growth is attributed to the rising usage of contact lenses amongst the masses as well as increasing prevalence of presbyopia. The Centers for Disease Control and Prevention (CDC) mentioned that in the U.S., around 45 million people use contact lenses.

Asia Pacific, on the other hand, is expected to remain in the second position owing to gradual inclination of the masses to disposable contact lenses from reusable contact lenses. Also, various market players are launching novel products day by day in this region. It is also giving rise to market growth. The region is projected to experience rapid growth in the coming years owing to the rising trend of wearing contact lenses amongst the youngsters for correcting vision errors. Moreover, the increasing awareness programs regarding the benefits of using contact lenses, rising disposable income, and availability of lenses on online platforms would also contribute to the demand for contact lenses in this region.

Key Companies and Manufacturers Covered:

Contamac
CooperVision
HOYA Corporation
Essilor
Bausch & Lomb Incorporated
Johnson & Johnson Vision Care, Inc. (Johnson & Johnson Services, Inc.)
ZEISS International
Alcon Vision LLC
Other key market players

Acuvue Introduces Disposable Lenses Integrated with Light Adaptive Technology

In April 2018, Acuvue announced that it has received clearance from the Food and Drug Administration for the Acuvue Oasys contact lenses. The Oasys lenses were loaded operated with the concept of light adaptive technology. The Oasys was aimed for patients with non-infected eyes. The Oasys lense for suitable for people with nearsighted or farsighted problems. According to the Centre for Disease Control and Prevention (CDC), an estimated 45 million people in the US wear contact lenses, out of which 90% of the people use soft contact lenses. Acuvue serves a huge percentage of the population in the US, and its primary products are soft contact lenses. Acuvue's Oasys has been a success the global disposable contact lenses market and the increase in production and sales of Acuvue will have a positive impact on the global market. Fortune Business Insights predicts that recent product launches will have a positive impact on the global disposable contact lenses market in the forthcoming years.

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Detailed Table of Content:

Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Epidemiology of Ocular Disease - For Key Countries/Key Regions
Key Industry Developments - Mergers, Acquisitions, and Partnerships
Key Trends in Contact Lenses Market
Technological Advancements in Contact Lenses
Global Contact Lenses Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
Market Analysis, Insights and Forecast - By Modality
Reusable
Disposable
Market Analysis, Insights and Forecast - By Design
Toric
Multifocal
Spherical
Market Analysis, Insights and Forecast - By Distribution Channel
Ophthalmologists
Retail Stores
Online Stores
Market Analysis, Insights and Forecast - By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
North America Contact Lenses Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
Market Analysis - By Modality
Reusable
Disposable
Market Analysis - By Design
Toric
Multifocal
Spherical
Market Analysis - By Distribution Channel
Ophthalmologists
Retail Stores
Online Stores
Market Analysis - By Country
S.
Canada
Europe Contact Lenses Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
Market Analysis - By Modality
Reusable
Disposable
Market Analysis - By Design
Toric
Multifocal
Spherical
Market Analysis - By Distribution Channel
Ophthalmologists
Retail Stores
Online Stores
Market Analysis - By Country/Sub-region
K.
Germany
France
Spain
Italy
Scandinavia
Rest of Europe
Asia Pacific Contact Lenses Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
Market Analysis - By Modality
Reusable
Disposable
Market Analysis - By Design
Toric
Multifocal
Spherical
Market Analysis - By Distribution Channel
Ophthalmologists
Retail Stores
Online Stores
Market Analysis - By Country/Sub-region
Japan
China
India
Australia
Southeast Asia
Rest of Asia Pacific
Latin America Contact Lenses Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
Market Analysis - By Modality
Reusable
Disposable
Market Analysis - By Design
Toric
Multifocal
Spherical
Market Analysis - By Distribution Channel
Ophthalmologists
Retail Stores
Online Stores
Market Analysis - By Country/Sub-region
Brazil
Mexico
Rest of Latin America
Continued...

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Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market's expansion.
Market dynamics and opportunities for growth for players in the near future.
Competitive landscape describing the market revenue shares of key players.
Market segmentation analysis that deals with quantitative and qualitative research, discussing the influence of policy-based and economical aspects.
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