Contact Lenses Market share forecast to witness considerable growth from 2019 to 2029 | Abbott Medical Optics (AMO) (Johnson & Johnson Services, Inc., Alcon Management S. A. etc.

The contact lenses market is expected to grow with a CAGR of 5.5% during the forecast period.

A contact lens is a thin, curved lens placed directly on the corner of the eye. The mechanism is the same as a pair of spectacles to adjust the focusing power by correcting refractive errors to the eye's cornea and lens. The lens is clear; however, it is commonly given the slightest tinge of color to create them easier for wearers to handle. The United States Food and Drug Administration (U.S. FDA) considers contact lenses as medical devices, irrespective of the purpose the wearer uses them.

Contact Lenses Market is predicted to expand rapidly altogether development areas over the forecast period between 2019 and 2026. Contact Lenses Market report focuses on the main drivers and restraints for the key players and presents competition status with growth prospects. Contact Lenses Market report is professional and in-depth research by experts on the present state of the Contact Lenses Industry. Contact Lenses marketing research report provides the most recent industry data and industry future trends, allowing you to spot the products and end users driving Revenue growth and profitability.

The contact lenses market is primarily driven by the soaring incidents of visual deficiencies, such as myopia, hypermetropia/hyperopia, presbyopia, and astigmatism globally. Young kids using mobile phones and tablets close to their eyes can damage the eyesight at an early stage. As per the WHO, globally, 1 billion people have a vision impairment, which includes moderate or severe distance vision impairment or blindness due to unaddressed refractive error, cataract, glaucoma, corneal opacities, diabetic retinopathy, and trachoma. Moreover, in high-income countries, diseases such as diabetic retinopathy, glaucoma, and age-related macular degeneration are common causes leading to causes of vision impairment.

The hybrid lens material offers patients with sharper vision as it is associated with a gas permeable central zone, together with the comfort of a soft lens. Hybrids are more comfortable, exhibit better centration, and are more stable. Compared to soft lenses, hybrids are uniquely indicated when the quality of vision is affected by residual high-order aberrations or when tonic soft contact lenses fail to provide stable vision.

The therapeutic segment, on the other handholds the largest market share, as they are useful in a variety of ocular surface diseases. These lenses are mainly used to relieve pain, protect the ocular surface, promote corneal healing and epithelial regeneration, seal a leaking corneal wound, and deliver ophthalmic drugs on the ocular surface.

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The Major Players Covered in this Report:
Abbott Medical Optics (AMO) (Johnson & Johnson Services, Inc.
Alcon Management S. A.
Bausch & Lomb Incorporated
ZEISS International(Germany)
Contamac
CooperVision
Essilor(France)
HOYA Corporation. (Japan)
Medennium
SEED Co., Ltd. (Japan), & More...

By Usage
Daily Wear
Extended Wear

By Design
Multifocal
Spherical
Toric
Others

By Material
Gas Permeable
Silicon Hydrogel
Hybrid

By Application
Therapeutic
Corrective
Cosmetic

By Distribution Channel
Eye-Care Professionals
E-Commerce
Retail

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Contact Lenses in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Contact Lenses market during the forecast period 2019-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Contact Lenses and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Contact Lenses. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

Recent Developments
In April 2019, Johnson & Johnson Vision announced the launch of its first-of-a-kind new contact lenses, ACUVUE OASYS, with transitions. The lenses feature a light intelligent technology, dispersed across the material in the form of trillions of photochromic molecules. The lenses, which also provide vision correction, help the eyes adjust to darkness or brightness better than they would do independently.

CooperVision'sMiSight contact lens is designed for children ages 8 to 12. It is designed to slow the progression of myopia and has received the Food and Drug Administration (FDA) approval

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The report covers an exhaustive analysis on
Overview of the parent market
Global Contact Lenses Market Segments, Dynamics, Market Size, Share, Price, Volume, and Cost
Historical, current and projected market size in terms of volume and value
Global Contact Lenses Market Forecast 2019 to 2026
Supply & Demand Value Chain
Global Contact Lenses Market dynamics, including the current trends/drivers/threats/restraints/challenges
Potential and niche segments/regions exhibiting promising growth
Market landscape, competition, and leading companies involved
Strategies of leading companies and product offerings
Technological advancements

Key questions answered in this report:
What will be the market size by the end of the forecast period?
What are the factors driving the growth of the market?
What are the trends and developments that are likely to drive the growth of the market?
Who are the key players operating in the market?
What are the challenges, threats, and opportunities faced by the leading players?
What are the strengths and weaknesses of the key players of the market?

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