Contact Lenses 2019 Global Market Net Worth US$ 18.9 billion Forecast By 2026

Date

10/15/2019 4:08:00 PM

(MENAFN- iCrowdNewsWire) Oct 15, 2019

WiseGuyReports.Com Publish a New Market Research Report On ' Contact Lenses 2019 Global Market Net Worth US$ 18.9 billion Forecast By 2026.

Contact Lenses Market 2019

Description: -

This report analyses the current status of the global contact lenses market, outlines the key market drivers and the bases for market segmentation, and studies the trends of this market till 2026.

According to the World Health Organization, in 2015, approximately 1.9 billion people across the world were affected by myopia and the number is expected to be more than 2 billion by 2020, thus triggering a higher demand for contact lenses during the forecast period. It is estimated that the global contact lenses market will reach USD 18.9 billion by 2026. Some of the key growth drivers for this market include the rising prevalence of visual disorders such as myopia, presbyopia or astigmatism, a higher preference for contact lenses instead of prescription eye wear, and a growing trend of using contact lenses as a fashion accessory.

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Key Players

Alcon Laboratories, Inc., Abbott Medical Optics, Inc., Bausch + Lomb, Incorporated, Carl Zeiss AG, CooperVision, Inc., Contamac U.S., Inc., Hoya Corporation, Essilor International S.A., Medennium and Johnson & Johnson Vision Care, Inc. among others.

Segmentation:

The global contact lenses market is segmented on the basis of application, design, material and geographical region.

According to application, the contact lenses market can be divided into:

Therapeutic

Cosmetic

Prosthetic

Lifestyle-oriented

Corrective

Of these, the corrective segment is anticipated to register the highest growth over the forecast period. The cosmetic segment is also anticipated to witness rapid growth during the forecast period due to increasing consumer preferences for its aesthetic appeal.

Based on design, the contact lenses market can be split into toric, spherical, multifocal, and other products. Of these, the multifocal segment is anticipated to witness an increased demand as it is primarily used for treating age-related eye disorders. On the other hand, the fastest growing segment during the forecast period is believed to be the spherical lens.

Based on material, the contact lenses market is split into:

Soft lens

Rigid Gas Permeable lens

Hybrid lens

Of these, the hybrid lens segment is anticipated to witness a substantial growth as it provides the comfort of soft lenses with the clarity of rigid gas permeable lenses.

Regional Analysis:

North America, Europe, Asia-Pacific, South America, and Middle East and Africa are the major regions for the contact lenses market across the world. North America holds the largest market share in terms of revenue owing to better eye care facilities available as well as an increase in the geriatric population. However, the Asia-Pacific market, especially China is expected to grow at a high CAGR due to the increased awareness regarding contact lenses and increased spending on healthcare.

Industry News:

In the latest industry updates, in January 2018, CooperVision Inc, a leading player in the contact lenses market, launched its line of MyDay toric daily disposable contact lenses in the US.

In September 2018, Alcon, Inc. a US based contact lenses manufacturer launched AIR OPTIX plus HydraGlyde multifocal contact lenses for presbyopia, while in June 2018, Bausch & Lomb (US) launched its Bausch + Lomb ULTRA line of contact lenses for astigmatism.

In April 2019, Johnson & Johnson Vision announced the launch of its unique contact lenses, ACUVUE OASYS with Transitions. These lenses include a light sensitive technology, which apart from offering vision correction, will help the eyes adjust to darkness or brightness.

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Some Major Key Points Included In This Report:

Overview and Scope.

Executive Summary

Contact Lenses Market Insights

Contact Lenses Market Size and Forecast by Product Type

Contact Lenses Market Size and Forecast by Design Type

Contact Lenses Market Size and Forecast by Usage Type

Contact Lenses Market Size and Forecast by Regions

Company Profiles

Continued….

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