Research Article on Contact Lenses Market Dynamics, Major Companies Analysis and Forecast- 2023

Posted April 10, 2019 by Sumaiya11

Extensive Study of Contact Lenses Market Research Report is Included on with Latest Advancement. Detail analysis on possible segments and sub segments of the Contact Lenses Market.

The increasing prevalence of visual problems and eye disorders, combined with product advancements and the development of associated technology are some of the prominent factors driving market growth.

The Global Contact Lenses Market is projected to witness a moderate CAGR of 5.70% during the forecast period of 2018 to 2023. Market estimations and valuations anticipate an evaluation of USD 11 Billion by the end of 2023 from USD 7.9 Billion in 2017.

The scope of the discussion covers types of contact lenses such as corrective lens, therapeutic lenses, and cosmetic & lifestyle oriented lens. Also, assessment of prominent materials (silicone hydrogel soft contact lens, methacrylate hydrogel soft contact lens, gas-permeable contact lens etc.) used for manufacturing contact lenses has been made as a part of overall market sizing.

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The discussion also includes contact lens designs that are currently popular and worth a mention such as spherical, toric, and multifocal among others. This MRFR market perspective sheds light on the recent developments in contact lenses market on a global scale. Based on the research findings a market outlook has been established highlighting the key historical market trends, current market scenario and a revenue forecast till 2023.

All the market segments and sub-segments are profiled under five major geographies– North America, Europe, Asia Pacific, Latin America and the Middle East & Africa (MEA) with the respective country-level market projection.

Top Players:

Johnson & Johnson

Novartis AG


And more.

Contact Lenses Market - Detailed Regional Analysis:

The regional analysis of the contact lens market consists of regions such as Americas, Middle East, Europe, Africa, APAC and rest of the world. The Americas controls the contact lenses market globally due to the growing population of contact lens wearer, the mounting occurrence of eye-related diseases, and growing adoption of cosmetic lens among the young population. The American contact lenses market is estimated to develop at a CAGR of 5.8 percent through the forecast period. Moreover, the rising cases of cataract and eye diseases owing to diabetic retinopathy and glaucoma have added to the market’s progress in this region. The European region holds the next major market share due to the high acceptance of contact lenses and growing incidence of age-related eye diseases. This region is likely to develop at a CAGR of 6 percent throughout the forecast period. The Asia Pacific region is the most rapidly developing market for the contact lenses and is anticipated to register a CAGR of 6.2 percent all through the forecast period. The market growth is developing at a very speedy pace and has shown the appearance of many companies.

Contact Lenses Market Segmental Analysis:

The contact lenses market globally is segmented on the basis of material, design, and type. The segmentation of the market on the basis of material comprises of methacrylate hydrogel soft contact lens, gas-permeable contact lens, silicone hydrogel soft contact lens, and others. The silicone hydrogel soft contact lens is expected to hold a prime market share of 66.2 percent in the duration of the review period, and it is also projected to develop at a CAGR of 5.61 percent during the forecast period. On the basis of design, the market is segmented into toric, spherical, multifocal, and others.

The spherical segment holds the chief market share of 55.1 percent in the forecast period, and it is also anticipated to develop with a rapid CAGR of 5.57percent during the forecast period. Contact Lenses Market is segmented on the basis of type, into therapeutic lenses, corrective lens, and cosmetic & lifestyle oriented lens. The corrective lens type holds the maximum market segment of 43.4 percent over the forecast period, and it is also projected to develop at a CAGR of 5.22 percent throughout the forecast period.

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Issued By Market Research Future
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Categories Biotech
Last Updated April 10, 2019