Contact Lenses Market by Silicone and Methacrylate Hydrogel Soft Contact Lens Material Types | Top 10 Players Business Overview Till 2023

Contact Lenses Market
The International 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.

Contact Lenses Market Report Overview

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. 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.  The discussion also includes contact lens designs that are currently popular and worth a mention such as spherical, toric, and multifocal among others.

The contact lenses market has to increase from USD 7.9 Billion in 2017 to more than USD 11 Billion by the year 2023. Contact lens has been around for a number of years now, but the product failed to make an impression that was anticipated by many during the time of its inception in 1950s and 60s. Several years hence, tremendous developments have taken place in terms of design and functionality within the product, making it more viable than ever before.

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Today, contact lenses have become a popular medical device and are in demand across the globe. The increased acceptance of contact lenses has prompted manufacturers to develop multitude of lens categories, further widening the product range. Emerging as an apt alternative to spectacles, they are also recommend for non-surgical management of various eye diseases. The aforementioned factors are likely to remain highly relevant in shaping the course of the global contact lenses market during the review period.

Although there is a general preference for contact lenses over spectacles or glasses for vision correction, complications associated with contact lenses are expected to restrict market growth during the forecast period. Wearing certain types of lenses for prolonged periods of time can cause contact lens discomfort. Many consumers also find it difficult to put the lens in their eye and tend to prefer glasses as a result. Corrective procedures such as LASIK are gaining traction and as a result, are negatively affecting the growth of the market as LASIK treatments are more cost-effective since they offer long-term corrective benefits. The growing demand for cosmetic contact lenses is expected to offer ample opportunity for growth in the review period.

Moreover, various product advancements are expected to further market growth during the forecast period. Contact lenses are one of the most cost-effective ways to change one’s appearance, as such they are increasingly popular as they are easily available via e-commerce platforms.

Business Overview of Contact Lenses Industry Players:

Johnson & Johnson, Novartis AG, CooperVision, Inc., BAUSCH + LOMB, NEOVISION CO, LTD, CLEARLAB SG PTE, LTD, Hoya Corporation, Seed Co. Ltd, Menicon Co., Ltd, Bescon Co., Ltd, Oculus Private Limited, CAMAX OPTICAL CORP, and St. Shine Optical Co., Ltd.

Contact Lenses Market Segmentation:

By Type

Corrective Lens

Therapeutic Lenses

Cosmetic & Lifestyle oriented Lens

By Material

Silicone hydrogel Soft Contact Lens

Methacrylate hydrogel Soft Contact Lens

Gas-Permeable Contact Lens

Others

By Design

Spherical

Toric

Multifocal

Others

By Region

North America; The U.S., and Canada

Europe; Germany, the UK, France, Spain, Italy, and Rest of Europe

Asia Pacific (APAC); China, Japan, India and Rest of Asia Pacific

The Middle East & Africa (MEA)

Latin America

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