Global Contact Lenses Market

Contact lenses are one of the modern addition to eye care. It is a thin curved lens which is placed on the surface of the eye. Generally, they are substitutes for wearing glasses though there might be other reasons, aesthetics and cosmetics are the two main motivating factor for people to change the appearance of the eyes or to avoid wearing eyeglasses. Other reasons include functional or optical reason which makes contact lenses preferable for outdoor activities or sports. Contact lenses are either of the type hard or soft but the latter is worn by most people nowadays. Contact lenses generally have various lifetimes which needs to be disposed of after a specific time of usage ranging from a day to a year depending on the type used.

Market Dynamics

The growing usage of corrective contact lenses for treatment of visual deficiencies like myopia, hypermetropia, astigmatism etc. drive the global market of contact lenses over the forecast period of 2017-2024. The market for global contact lenses was valued at USD XX billion in 2016 and is expected to maintain its growth rate over the forecast period and reach USD XX billion by 2025. One of the prominent contributors to the market share is the use of soft lenses which provides various applications to the contact lenses market. One of the leading industry segments over the forecast period is anticipated to be the spherical lens segment which accounted for XX% of the industry share in 2014. Also, the demand for torric lens is expected to increase substantially with a CAGR of XX% over the forecast period.

Few drivers which are leading to the fast growth of the market are the rising tendency of young people to enhance their personal appearance, also the growing geriatric population and changing lifestyles. Economic factors like improvement in overall economy rising disposable income over the globe also act as additional factors for the growth of this market.

However, the increased risk of eye infections and corneal ulcers pulls back the growth and hence instead of contact lens few people prefer normal eyeglasses.

Market Segmentation

The market is segmented in terms of product outlook, design outlook, and usage outlook. By product outlook, the lens can be segmented into RPG Lens, Soft lens, Hybrid Lens. By design outlook, the contact lenses market is divided into spherical,torric, multifocal, others. As per usage outlook, the market can be segmented into corrective, therapeutic,cosmetic,prosthetic, lifestyle oriented.

Regional/Geographical Analysis

Various regions around the globe have shown an increased adoption of the usage of contact lenses. The South American and Asia Pacific market will show an immense growth in the forecast period whereas Chinese regional market is also witnessing a significant growth in the cosmetic lens segment.The main manufacturing units of contact lenses are in Asia but it has also made inroads in the U.S. regions as well. The Japanese regional market is also expected to show increased growth prospects with increased usage of lens for cosmetic reasons

Key Players

Some of the major players in the market include Johnson and Johnson Services, Bausch and Lomb, CIBA Vision (Alcon) and Cooper Vision.

Report Contents:

> Market segments

> Market Drivers, Restraints and Opportunities

> Market Size & Forecast 2016 to 2022

> Supply & Demand Value Chain

> Market - Current Trends

> Competition & Major Companies

> Technology and R&D Status

> Porters Five Force Analysis

> Strategic and Critical Success Factor Analysis of Key Players

Regional Analysis:

> North America

>> US and Canada

> Latin America

>> Mexico, Brazil, Argentina and Rest of Latin America

> Western Europe

>> EU5 (Germany, France, Italy, Spain, U.K.)

>> Nordic Countries (Denmark, Finland, Norway, and Sweden)

>> Benelux (Belgium, The Netherlands, and Luxembourg)

>> Rest of Western Europe

> Eastern Europe

>> Russia

>> Poland

>> Rest of Eastern Europe

> Asia Pacific

>> China

>> India

>> Japan

>> Australia and New Zealand

>> Rest of Asia Pacific

> Middle East and Africa

>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)

>> South Africa

>> North Africa

>> Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

Report Highlights:

> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)

> Consumer and Pricing Analysis

> Market dynamics of the industry

> Market Segmentation

> Estimated Market Sizing in terms of volume and value

> Recent trends in Market and impact

> Research Status and Technology Overview

> Extensive Industry Structure Coverage