Press release
Contact Lenses Market to reach USD 14.15 Bn by 2029, emerging at a CAGR of 7.31 percent and forecast (2023-2029)
Contact Lenses market
The Contact Lenses Market report covers various segments including usage, design, material, color variation, and distribution channels. It delves into in-depth data provided by market participants and offers regional insights from North America, Asia Pacific, Europe, Middle East & Africa, and South America.
Maximize Market Research Pvt Ltd's report employs rigorous research methodologies, including data collection from various sources and comprehensive analysis. The report encompasses historical data from 2018 to 2022 and provides a thorough examination of the market's contemporary competitive landscape.
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Contact Lenses Market Dynamics
The growing inclination among young people to enhance their aesthetic look and the rising geriatric population are expected to fuel demand for contact lenses over the forecast period. The loss of retina in older people poses a severe health danger. The most common causes of vision loss include aging-related cataracts, macular degeneration, glaucoma, and diabetic retinopathy. The need for visual health services and products is rising as eye-related illnesses in the elderly become more prevalent.
Emerging technologies in eye treatments could potentially reduce the need for contact lenses in the future.
Some individuals have experienced adverse effects from prolonged contact lens use, leading to concerns about their safety.
Limited awareness about contact lens options and lack of education in developing nations hinder market growth.
Rising eye disorders among the elderly population, particularly age-related cataracts, macular degeneration, glaucoma, and diabetic retinopathy, are driving the demand for contact lenses.
Technological advancements in products, such as photochromic lenses that automatically adjust to light conditions, are boosting market growth.
Enhanced sports performance, improved compatibility with safety equipment, and increased awareness of physical activities contribute to the growing popularity of contact lenses.
Contact Lenses Market Regional Insight
In the US and Canada, efficient healthcare systems have been established. These systems also aid in research and innovation. The welcoming government policies are encouraging international market participants to enter the United States and Canada. As a result, these countries have a large number of international market players. Age increases the prevalence of myopia. Myopia is anticipated to rise sharply among the global population during the forecasted period. Children in the Asia-Pacific region are at a very high risk of developing myopia. High myopia has been more prevalent among Indian high school students in recent years, and this could soon represent a severe public health concern.
In 2022, the North American region held the largest market share. Through the projection period, the North America region is anticipated to experience considerable growth at a CAGR . North America held the lion's share of the worldwide contact lens market in 2022 because of the region's escalating geriatric population and rising prevalence of eye disorders. Additionally, due to the increasing use of computers, televisions, and cellphones, the region's citizens' sedentary lifestyles have increased their chance of developing visual issues. The previously listed elements have increased demand for contact lenses.
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Contact Lenses Market Segmentation
Based on design, the Spherical category has a significant market lead and the highest CAGR during the anticipated timeframe. The fact that spherical lenses are bent both vertically and horizontally gives them a "bubbled" appearance. These lenses enhance peripheral vision as opposed to flat lenses. Because the lens has a bigger surface area, you can see more and there is less distortion and glare than with a flat lens. They frequently have enormous frames.
by Usage
Daily Wear
Extended Wear
Traditional Wear
by Design
Spherical
Toric
Multifocal
Monovision
Cosmetic
by Material
Silicone hydrogel
Hydrogel
Gas permeable
Hybrid
PMMA
by Colour Variation
Opaque contact lenses
Enhanced contact lenses
Visibility tinted contact lenses
by Application
Conventional
Orthokeratology
Decorative
by Distribution Channel
Retail stores
Hospitals & clinics
E-commerce
Purchase Report : https://www.maximizemarketresearch.com/market-report/contact-lenses-market/20661/
Contact Lenses Market Key Players
1. Bausch
2. Carl Zeiss Meditec AG
3. Johnson & Johnson
4. HOYA Corporation
5. The Cooper Companies
6. Seed Co., Ltd.
7. EssilorLuxottica
8. BenQ Materials Corporation
9. Menicon Co., Ltd.
10. Essilor International S.A.
11. Alcon Vision LLC
12. Abbott Medical Optics, Inc.
13. CooperVision, Inc.
14. SynergEyes, Inc.
15. X-Cel Specialty Contacts
16. Medennium
17. STAAR Surgical Company
Table of content for the Contact Lenses Market includes:
1. Global Contact Lenses Market: Research Methodology
2. Global Contact Lenses Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Contact Lenses Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4.Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segment | 2023-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Product
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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