Press release
Global Contact Lenses Market Projection by Key Players, Share, Size, Trends, Segmentation, Regional Analysis, Industry Growth Forecast – 2028
Contact Lenses Market Forecast 2021-2028
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Market Overview:
The global contact lenses market size is projected to reach USD 11.55 billion by the end of 2027. The increasing investments in these lenses are consequential to the increasing demand for the product across the world. The presence of several large scale manufacturers in this sector will have a massive impact on the growth of the market. According to a report published by Fortune Business Insights, titled “Contact Lenses Market Size, Share & COVID-19 Impact Analysis, By Modality (Reusable and Disposable), By Design (Toric, Multi-focal, and Spherical), By Distribution Channel (Retail Stores, Online Stores, and Ophthalmlogists), and Regional Forecast, 2020-2027,” the market was worth USD 8.69 billion in 2019 and will exhibit a CAGR of 8.7% during the forecast period, 2020-2027.
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Decline in Contact Lens Sales During the Covid-19 Pandemic to Affect Market Growth
The recent coronavirus outbreak has created a sense of panic across the world. The efforts taken to curb the spread of the disease have had an adverse effect on several businesses across the world. The decline in contact lens sales during the pandemic is consequential to the strict measures taken to limit the spread of the disease. Having said that online commerce and business options will provide alternate routes the companies.
Contact lenses are widely used across the world, driven by increasing number of eye disorders across the world. The advancement and the efforts put in by large scale companies across the world will have a massive impact on the growth of the overall contact lenses market in the coming years. The massive investments in the research and development of efficient products will have a huge impact on market growth. The rising demand for disposable contact lenses will bode well for the growth of the market. The changing lifestyle habits and preferences towards these lenses over glasses will create several growth opportunities for the companies operating in the global market. Additionally, the presence of several large scale companies will bode well for the growth of the market in the coming years.
Increasing Number of Product Launches will have a Huge Impact on Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of product innovations has made the highest impact on the growth of the market. Accounting to the massive potential held by contact lenses with respect to variations, colors, and size, companies are looking to introduce innovative products with the view to acquiring to a wider consumer base. In June 2019, Bausch & Lomb Incorporated announced the launch of a new product in the United States. The company introduced ‘Bausch + Lomb Ultra Multifocal,’ a product that is categorized as a silicone hydrogel lens. The company designed this product to address the vision needs of patients suffering from astigmatism and presbyopia. Increasing number of such product launches will have a massive impact on the growth of the overall market in the coming years.
North America to Emerge Dominant; Increasing Number of Presbyopia Patients will Emerge in Favor of Market Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years. The rising incidence of presbyopia in the United States, coupled with the increasing geriatric population that are more prone to eye disorders will lead to a wider product adoption in this region. The presence of several large scale companies in this sector is consequential to the increasing product adoption and subsequently rising demand for the product, especially in the United States. As of 2019, the market in North America was worth USD 10.83 billion and this value is projected to rise at a considerable pace in the coming years.
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List of companies profiled in the report:
CooperVision (U.S.)
Bausch & Lomb Incorporated (U.S.)
Alcon Vision LLC (Switzerland)
Essilor (France)
ZEISS International (Germany)
Contamac (U.K.)
Johnson & Johnson Vision Care, Inc. (Johnson & Johnson Services, Inc.) (U.S.)
HOYA Corporation (Japan)
Others
Industry Developments:
September 2019: CooperVision announced that it has completed the acquisition of Blanchard Contact Lenses. The company will look to expand its presence in in Specialty Segment.
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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
Impact of COVID-19 on Global Contact Lenses Market
Global Contact Lenses Market Analysis, Insights and Forecast, 2016-2027
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, 2016-2027
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, 2016-2027
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, 2016-2027
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, 2016-2027
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
Middle East & Africa Contact Lenses Market Analysis, Insights and Forecast, 2016-2027
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
GCC Countries
South Africa
Rest of Middle East & Africa
Competitive Analysis
Key Industry Developments
Global Market Share Analysis (2019)
Competition Dashboard
Comparative Analysis – Major Players
Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
CooperVision
Bausch & Lomb Incorporated
Alcon Vision LLC
Essilor
ZEISS International
Contamac
Johnson & Johnson Vision Care, Inc. (Johnson & Johnson Services, Inc.)
HOYA Corporation
Other Prominent Players
Related Article @ https://marketresearchreportsfbi.wordpress.com/2021/10/21/wearable-medical-devices-market-projection-by-technology-top-key-players-growth-revenue-cagr-regional-analysis-industry-forecast-2028/
NOTE: Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. We aim to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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