Contact Lenses Market will Project a CAGR of 5.70% for the Forecast Period of 2022-2029

The global contact lenses market will project a CAGR of 5.70% for the forecast period of 2022-2029. Growth and expansion of fast moving consumables goods industry especially in the developing economies, rising awareness about the benefits of contact lenses, growing popularity of various brands and increasing personal disposable income are the major factors attributable to the growth of contact lenses market.

Surging cases of hyperopia, presbyopia, astigmatism and other ophthalmic disorders and rising number of product innovations are the major factors fostering growth of the market. Rising geriatric population base and surging visual defects in young children owing to the increased screen time before computers, laptops and smartphones will further create lucrative growth opportunities for the market. 

Also known as contacts, contact lenses are small circular thin flexible piece of clear plastics, which are designed to be worn over the surface of eyes, enabling clear vision and removing the need to wear spectacles. Contact lenses are used as alternatives to spectacles and are used to correct myopia and glaucoma.     

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Global Contact Lenses Market Scope and Market Size

The contact lenses market is segmented on the basis of model, design, material, color variation, distribution channel and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

On the basis of model, the contact lenses market is segmented into daily wear contact lenses, extended wear contact lenses, and traditional wear contact lenses.
On the basis of design, the contact lenses market is segmented into spherical contact lenses, toric contact lenses, multifocal contact lenses, monovision contact lenses, and cosmetic contact lenses.
On the basis of material, the contact lenses market is segmented into silicone hydrogel contact lenses, hydrogel contact lenses, hybrid contact lenses, gas-permeable contact lenses, and polymethyl methacrylate contact lenses.

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Contact Lenses Market Country Level Analysis

The contact lenses market is segmented on the basis of model, design, material, color variation, distribution channel and application.

The countries covered in the contact lenses market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).

North America is dominating the contact lenses market and will continue to owing to the growing popularity of daily disposable lenses and high awareness regarding eye examinations. Asia-Pacific will continue to undergo substantial gains during the forecast period and score the highest growth rate owing to the rising prevalence of eye disorders and improving personal disposable income.

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Competitive Landscape and Contact Lenses Market Share Analysis

The contact lenses market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to contact lenses market.

Some of the major players covered in the contact lenses market are Bausch & Lomb Incorporated, Alcon Vision LLC, The Cooper Companies Inc., Johnson & Johnson Services, Inc., Surgical Vision, Inc., Carl Zeiss AG, Contamac, Essilor, Hoya Corporation, Hydrogel Vision Corporation, STAAR SURGICAL, SynergEyes, BenQ Materials Corp, Menicon Co., Ltd., Seed Co Limited., X-Cel Specialty Contacts, Bausch Health Companies Inc., Novartis AG and Abbott among others.

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