Press release
Global Contact Lens Market Will Account for Around US$18.70 bn By 2024
According to a TMR analyst, “The global market for contact lens is expected to register a CAGR of 7.6% between 2016 and 2024. In 2015, the market was worth US$9.74 bn and is projected to rise to a valuation of US$18.70 bn by the end of 2024.”
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The Global Contact Lens Market is segmented on the basis of expression system, product type,by Geography, by Technology Type application, end user and region.
The core technologies that are used for contact lens manufacturing are lathe cutting, cast molding, and spin casting. Amongst all these the most sought after technology in 2015 was cast molding with an overall share of 80% in the global contact lens market and it is expected that it will maintain the dominant position in the coming years. The growth of the market can be attributed to the computer controlled and automated manufacturing of the contact lenses with the aid of the technology of cast molding. This process assures the manufacturer of high quality and accuracy in the end product. In addition, injection molding further enables bulk manufacturing for extensively prominent disposable lens types, thus making cast molding the most preferred method for cost reduction. However, cast molding will continue its reign in the market, it might lose its popularity to the technology of lathe cutting.
Region-wise, the global market for contact lens has been segmented into North America, the Middle East and Africa, Latin America, Asia Pacific, and Europe. At present, North America leads the market with almost 30% of the overall share in the global market owing to the number of senior and middle aged ophthalmological patients and a significant rise in ophthalmic issues in the region. However, Asia Pacific is expected to give a tough competition to North America with the most promising and lucrative opportunities present in the market for the players in the near future.
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Summary of Table of Content:
1 Preface
2 Executive Summary
3 Production Analysis of Contact Lens Manufactured by Lathe cutting Technology
4 Global Contact Lens Market Analysis, 2015 – 2024 (Unit Million) (USD Billion)
5 North America Contact Lens Market Analysis, 2015 – 2024 (Unit Million) (USD Billion)
6 Europe Contact Lens Market Analysis, 2015 – 2024 (Unit Million) (USD Billion)
7 Asia Pacific Contact Lens Market Analysis, 2015 – 2024 (Unit Million) (USD Billion)
8 Latin America Contact Lens Market Analysis, 2015 – 2024 (Unit Million) (USD Billion)
9 Middle East and Africa (MEA) Contact Lens Market Analysis, 2015 – 2024 (Unit Million) (USD Billion)
10 Company Profiles
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About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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