Cosmetic Contact Lens Market trends research and projections for 2017-2024
Global cosmetic contact lens market size was valued at over USD 900 million in 2015 and is expected to grow at a CAGR of around 6.5% over the forecast period. Increasing demand for changing aesthetic appearance without vision correction is anticipated to drive industry growth. Contact lenses market size is estimated to exceed USD 13 billion by 2023.
U.S. cosmetic contact lens market share was valued at over USD 250 million in 2015, and is expected to grow faster than the global average over the forecast period. Increasing usage of these products for enhancing overall aesthetic appeal is expected to propel demand over the forecast period.
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Surging usage in the entertainment sector is expected to boost cosmetic contact lens market size growth. Furthermore, continuous innovation for developing products that display information to the user using various processes such as laser cutting and injection molding is expected to positively impact the industry over the forecast period. Increased standard of living and higher disposable income are also estimated to fuel growth.
1. Cosmetic Contact Lens Market size & forecast by product & application
2. Growth drivers, pitfalls & industry challenges
3. Key Cosmetic Contact Lens Market growth opportunities & emerging business
4. Competitive benchmarking with market share analysis and company profiles
Colored lenses help in changing the wearer’s eye color or enhancing the hue. Growing acceptance of corrective surgeries such as LASIK is estimated to favorably impact cosmetic contact lens market size. Costume contact lens market mainly finds application in the film industry for special effects makeup.
Features such as ease of adjustability and high comfort are forecast to boost the cosmetic contact lens industry from 2016 to 2023. Since these products are targeted at the younger demographic, increased elderly population and general increase in the percentage of population with visual inaccuracies is expected to hinder growth.
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The Cosmetic Contact Lens Market Report Consists of,
1. Methodology and Scope
2. Executive Summary
3. Cosmetic Contact Lens Market Insights
3.1 Industry segmentation
3.2. Industry size, forecast and growth expectations, 2012 - 2023
3.3. Industry ecosystem analysis
3.4. Raw material insights
3.5. Technology insights
3.6. Regulatory framework
3.7. Industry dynamics
3.8. Key growth opportunities
3.9. Porter's analysis
3.10. Company market share, 2015
3.11. PESTEL analysis
3.14. Regional price trends
4. Cosmetic Contact Lens Market Insights
5. Cosmetic Contact Lens Market Application Insights
6. Cosmetic Contact Lens Market Regional Insights
7. Competitor Profiles
The Food and Drug Administration (FDA) characterizes these products as medical devices that need a prescription for purchase. Products made overseas may contain dyes not approved by the FDA. Using non-prescribed products can result in decreased vision, corneal infection, pink eye, or even blindness.
In the UK, the plano cosmetic contact lens market is regulated; since biocompatibility with the eye is important, these products are supplied by a medical practitioner or registered optometrist.
320 kilo tons in the same year. 40D and 20D are major products manufactured in China.
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Key industry players include CooperVision, Bausch & Lomb, Ciba Vision (Alcon), and Johnson & Johnson. Contact lens market share is consolidated, and leading players have accrued high degree of brand loyalty. Long term agreements, global coverage and ensuring robust marketing and branding operations are expected to remain the key growth strategies. The industry comprises a large number of local manufacturers, especially from Asia Pacific.
Other prominent participants in include Allied Medical, Carl Zeiss, Blanchard, Conforma, Eagle Optics, Contamac U.S., GKB, Hydrogel Vision, Hoya, Iridex, Medicure Instruments, Medennium, Nidek, Wesley Jessen, X-CEL Contact and Synergeyes.
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