According to study, “World Contact Lenses Market Research Report 2024(Covering USA, EU, China, South East Asia, Japan and etc)” the key companies operating in the world contact lenses market are Johnson & Johnson Vision Care Inc., Abbott Medical Optics, Bausch + Lomb, Alcon Laboratories, Novartis AG, Menicon, St. Shine Optical Co. Ltd., Weicon, Haohai Biological Technology, Essilor International SA, SynergEyes Inc., Eagle Optics, Hydron, NEO Vision Inc., Camax Optical Corp., Carl Zeiss Group, X-Cel Specialty Contacts, Oculus Private Ltd., Contamac, Seed Co. Ltd., Menicon Co. Ltd., Bescon, Hoya Corp., CooperVision.
Contact lens is a thin lens located on the surface of an eye. It is very sensitive and handle with care to avoid infections & dislocation. It is used for worn out to correct vision, therapeutic and cosmetic reasons. It is coated with scratch resistance materials, anti-refractive materials, and ultraviolet protection materials to improve the relaxing benefits of lenses, and as a result, provide comfort to the user.
The key benefits include provide predictable vision correction, allow a natural field of view, less cost comparable to surgery, and provide better side vision than eyeglasses. Apart from benefits, few of the drawbacks are risk of corneal infections, scrapes and scratches, cleaning & disinfecting can be complicated & inconvenient and easily damaged or lost.
Based on type, contact lenses market is segmented into therapeutic lenses, corrective lenses and cosmetic & lifestyle oriented lenses. Based on product type, market is segmented into rigid contact lenses and daily wear soft lenses. Based on material type, market is segmented into methacrylate hydrogel soft contact lens, silicone hydrogen soft lens, gas permeable contact lens and others. Based on design, market is segmented into toric lens, spherical lens, multifocal lens and others. The multifocal segment is likely to witness lucrative demand owing to ability of these lenses to incorporate multiple prescriptions over the forecast period.Based on color type, market is segmented into enhancers/tinted contact lenses, opaque contact lenses, and visibility tinted contact lenses. Based on technology type, market is segmented into cast molding, spin casting and lathe cutting. Based on distribution channel, market is segmented into online store, spectacle stores and other distribution channels. In addition, based on wear type, market is segmented into disposable lenses, daily disposable lenses, conventional lenses and frequent replacement lenses.
The contact lenses market is driven by growth in prevalence of myopia, followed by rise in geriatric population, increase in preference for contact lens over prescription eyeglasses, growth in decorative (plano) sunglasses market, rise in aging population, increase in demand in outdoor activities, rise in disposable income, growth in prevalence of ophthalmic disorders, increase in desire of people to boost their aesthetic appearance, and introduction of multifocal &other new lenses. However, contact lens-associated problems and growth in acceptance of refractive surgeries may impact the market.
Based on geography, USA country holds major share, followed by EU in contact lenses market owing to growth in prevalence of eye-related diseases, increase in occurrences of age-related eye diseases, advancements in technologies such as increase in product adoption and drug delivering lenses and rise in popularity of cosmetic lenses among the youth in the country.Japan and China countries are estimated to witness beneficial growth due to growth in adoption of contact lens among the youth, rise in prevalence of eye disorders over the forecast period. It is projected that future of the market will be optimistic because of increase in population of contact lens wearers during the forecast period.
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Ankur Gupta, Head Marketing & Communications