Contact lenses Market Insights Report 2020-2027: Growth, Vendors, Shares, Drivers, Challenges with Forecast

Press Release

Global Contact lenses Market Research Report : Forecast to 2023

Report Title: Contact lenses Market 2020 Report Forecast by Global Industry Trends, Regional Overview, Future Growth, Market Share, Revenue, Size, Share, and Forecast Outlook until 2027

Introduction, A contact lens is a thin lens placed directly on the surface of the eye. The increasing prevalence of visual inaccuracies and eye disorders is one of the key drivers in the contact lenses market. The prevalence of various ocular disorders, such as myopia, hypermetropia, and others is also growing at an alarming rate, worldwide. These ocular disorders are associated with a significant rise in the risks for vision impairment due to conditions such as high myopia and other diseases. According to the World Health Organization (WHO), the prevalence of myopia will be much higher in high-income regions of Asia-Pacific, i.e., in the East and South-East Asia and is also predicted to increase to 24% by 2050. According to the Journal of Ophthalmology, 2018 the National Health and Nutrition Examination Survey (NHANES) reported the annual direct cost of correcting distance vision impairment due to refractive errors to be between USD 3.9 billion and USD 7.2 billion in the US, Contact lenses are now commonly used to correct myopia, hyperopia, astigmatism, and presbyopia. There are other eye conditions as well, such as keratoconus and aniseikonia that are better corrected with contact lenses., The growing adoption of contact lenses for the correction of multiple vision detects including refractive errors such as myopia, hyperopia, astigmatism, and presbyopia, is propelling the growth of the market. Additionally, technological advancements in contact lenses and increasing preference for contact lenses in young adults are expected to contribute to the growth of the market during the forecast period. However, alternative therapies for the correction of refractive errors such as LASIK and PRK and safety concerns related to the use of contact lenses may hamper the growth of the market., The global contact lenses market is expected to reach USD 11036.45 million by 2023 at a CAGR of 5.7% during the assessment period., Based on type, the market is segmented into corrective lens, therapeutic lens, and cosmetic and lifestyle-oriented lens. The corrective lens segment accounted for the largest market share, in 2017, whereas the cosmetic and lifestyle-oriented lens segment is expected to be the fastest growing segment at a CAGR of 6.14% during the forecast period., Based on material, the market is segmented into silicone hydrogel soft contact lens, methacrylate hydrogel soft contact lens, gas-permeable contact lens, and others. The silicone hydrogel soft contact lens segment accounted for the largest market share of global contact lenses market, in 2017and is expected to register a CAGR of 5.61% during the forecast period., Based on design, the market is segmented into spherical, toric, multifocal, and others. The spherical segment dominated the global contact lenses market, registering USD 4362.85 million in 2017 and expected to reach USD 6038.36 million by 2023 at the rate of 5.57% during the forecast period., Based on regions, the market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas dominated the contact lenses market. The contact lenses market for the Americas was valued at USD 2902.21 million in 2017 and is expected to reach USD 4071.77 million by 2023 at a CAGR of 5.81% during the forecast period

Key Players: –

Johnson & Johnson, Novartis AG, CooperVision, Inc., BAUSCH + LOMB, NEOVISION CO, LTD, CLEARLAB SG PTE, LTD., Hoya Corporation, Seed Co. Ltd, Menicon Co., Ltd, Bescon Co., Ltd., Oculus Private Limited, CAMAX OPTICAL CORP,St. Shine Optical Co., Ltd.

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Target Audience

  • Contact lenses manufacturers
  • Contact lenses Suppliers
  • Contact lenses companies
  • Key executive (CEO and COO) and strategy growth manager

Study Objectives:
To provide insights about factors, influencing and affecting the market growth.
To provide historically and forecast revenue of the market segments and sub-segments with respect to regional markets and their countries.
To provide historical and forecast revenue of the market segments based on types, application, end user and others.
To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market.

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Table of Contents:

1 INTRODUCTION
1.1 Definition
1.2 Scope of Study
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS & LIMITATIONS
1.2.2.1 ASSUMPTIONS
1.2.2.2 LIMITATIONS
1.3 MARKET STRUCTURE:
2 RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS:
2.2 Primary Research
2.3 SECONDARY RESEARCH:
3 MARKET DYNAMICS
3.1 DRIVERS
3.1.1 GROWING Demand for newly developed Contact lenses
3.1.2 Growing trend of Outsourcing
3.1.3 Growing Contact lenses Industry in developing nations
3.2 RESTRAINTS
3.3 OPPORTUNITIES
3.4 MACROECONOMIC INDICATORS
4 MARKET FACTOR ANALYSIS
4.1 Porters Five forces Model
4.2 Bargaining power of suppliers
4.3 BARGAINING POWER OF BUYERS
4.4 THREAT OF NEW ENTRANTS
4.5 Threat of Substitutes
4.6 Intensity of Rivalry
5 global Contact lenses market, by Type
6 global Contact lenses market, By Application
7 global Contact lenses market, By Manufacturing Methods
7.1 In-House Manufacturing
7.2 Contract Manufacturing
7.2.1 introduction
8 Global Contact lenses market, by region
8.1 North America
8.1.1 Introduction
8.2 Europe
8.2.1 Introduction
8.3 Asia-Pacific
8.3.1 introduction
8.4 Middle East & Africa
8.4.1 Introduction
9 Competitive landscape
9.1 Major Strategies adopted by market players
9.1.1 STRATEGIC PARTNERSHIP
9.1.2 Merger & Acquisition
10 company profile

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