Global Contact Lenses Market product (rigid gas permeable lens, soft lens, and hybrid lens.), by design (spherical, toric, multifocal, and others.), by technology (spin casting, cast molding, and lathe cutting.), by usage (medicinal, aroma, and others.), by material (pharmaceuticals, food & beverages, and personal care.), by region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) is expected to reach US$ 19.5 Bn by 2026, at a CAGR of 7.44% during a forecast period.
An increasing number of middle-aged population and senior ophthalmological patients count in boosting the growth of contact lenses market. The rise in young generation’s vision problem, the rise in health awareness for eye care, and their self-consciousness for appearance are also expected to drive the growth of the contact lenses market.
The restring factor of the global contact lenses market requires regular office visits for follow-up care, proper handling is difficult as well as require regular monitoring and professional care.
New technologies such as electronic contact lens facilitate the wearers in adjusting the optics for focusing at far, near and intermediate distances, and are expected to open new opportunities during the forecast period.
Asia Pacific is expected to grow with the highest CAGR over the forecast period in the global contact lenses market.
Asia Pacific is expected to grow with the highest CAGR over the forecast period in the global contact lenses market due to an increase in the disposable income, the rise in popularity of the product, the introduction of new products, the presence of branded retail outlets, and growth in online sales are the factors which are anticipated to drive the growth of the market in this region. Also, an increase in the number of youngsters drawn towards cosmetic lenses to enhance appearance and lifestyle is also encouraging the demand for the contact lenses market in this region. The rising awareness about eye health is expected to drive the growth of the market.
Soft lenses are anticipated to dominate the market.
Soft lenses are anticipated to dominate the market due to they are made up of materials that are translucent and flexible such as silicone hydrogel. These are high on oxygen permeability as well as on water retention capacity, which makes them extremely comfortable for long wear. Soft lens is used for correcting both near and farsightedness as well as spherical aberration of the eye. Soft contact lenses offer numerous advantages, such as greater flexibility and comfort, as compared to RGP lenses. They are extensively used for ametropia correction as they permit extra oxygen to pass through to the wearer’s cornea.
Key players operating in the global contact lenses market are Abbott Medical Optics, Alcon Laboratories, Bausch & Lomb, Carl Zeiss, X-Cel Specialty Contacts, Contamac, CooperVision, Eagle Optics, Essilor International, and HOYA CORPORATION.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the global contact lenses market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global contact lenses market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global contact lenses market positioning of competitors.
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