Global Contact Lenses Market Size is estimated to expand rapidly in coming years, at a CAGR of 5.2 % from 2018 to 2025. In 2017, the global market valuation was USD 10.2 billion, and it is anticipated to be greater than USD xx.xx billion by 2025. The development of this industry is driven by an increasing incidence of myopia, an increasing geriatric population and a growing desire for contact lenses over prescription eyeglasses. On the other side, the lack of educated physicians and legislative obstacles on the industry are considerations that constrain the development of the industry. Changing consumer lifestyle coupled with trending fashion trend is one of the key reasons behind the market growth of contact lenses.
Global Market Growth Opportunities (Revenue, Growth) By 2017-2025
This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global contact lenses market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global contact lenses market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.
By Design Insights: On the basis of design, global contact lenses market has been segmented into monovision, spherical, multifocal, toric. Among which spherical contact lenses segment is expected to dominate the global market in terms of revenue. This growth is mainly ascribed to the greater use by optometrists and nurses of these lenses for treatment of myopia (near-view) or hyperopia (farsightedness). Globally, the growing incidence of myopia should further promote the development of this section of the industry.
By Model Insights: On the basis of model, global contact lenses market has been segmented into daily wear, extended wear. Among which daily wear segment is expected to be the highest growing segment in the global market of contact lenses. The great proportion of this section can mainly be ascribed to the benefits of daily wear-contact lenses (simple wearing, no lens washing requirements for day-to-day wear glasses), and no temporary wear requirements.
The contact lenses market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players.
The biggest proportion of the industry was represented in North America in 2018. The increased incidence of eye diseases associated with old age, increased health care expenses, increased disposable incomes and technological advances in contact lenses and associated products are some of the main drivers of market growth in North America.
During the forecast period, APAC is projected to expand at a substantial pace of development owing to increased healthcare investment including visual treatment. The significant public agencies partner in research and development operations linked to eye hygiene with significant optical wellness businesses. Another element adding considerably to lens market growth is the rise in aging population in nations like China and Japan. The growing demand for changing appearance, increasing entertainment and continuous innovation in the nature of products & comfort support the use of cosmetic lenses in the region.
Global Contact Lenses Market Size, Share Analysis by Region 2018
Global Contact Lenses Market Study Objective
1. To forecast the market size of contact lenses market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.
2. Market analysis and forecast of contact lenses market on the basis of region, substrate, and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.
3. To analyze and elaborate on significant factors that will have a major impact on the growth of the contact lenses market, such as drivers, restraints, challenges, and opportunities.
4. The regional analysis of contact lenses market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa, and the Asia Pacific.
5. Strategic analysis of micro-markets, in terms of individual prospects, opportunities, growth trends and their involvement in the overall market.
6. To provide detailed analysis of competitive and strategic developments in the contact lenses market like a new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.
Key Players Landscape
Johnson & Johnson, Alcon, Inc., CooperVision, Inc., and Bausch + Lomb, Carl Zeiss Meditech AG, HOYA Corporation, Essilor Group, SEED Co., Ltd., Menicon Co., Ltd., and BenQ Materials Corporation are some of the key players in the market of contact lenses.
Global Contact Lenses Market Study Report Offer You!
The global contact lenses market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end-user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.
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