DUBLIN--(BUSINESS WIRE)--The "Contact Lenses Market - Global Outlook and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.
The global contact lenses market is anticipated to generate revenues of more than $13 billion by 2023 and expected to grow at a CAGR of over 5% during the forecast period.
The growing adoption of lenses for restoring multiple vision dysfunctions including refractive errors such as myopia, hyperopia, astigmatism, and presbyopia will promote the growth of the global contact lenses market. The use of lenses offers varied medical and lifestyle-related benefits. Some of the therapeutic benefits of using lenses are corneal protection, for post-surgical conditions, and for corneal pain relief and healing.
The growing focus on aesthetic look and popularity of colored contact lensesin the fashion industry will boost the demand for these eye glasses and contact lenses products. The introduction of daily disposable lenses that offer multiple advantages will create new business opportunities for the vendors. The advent of low-cost manufacturing techniques and the introduction of innovative novel silicone hydrogel-based polymers will revolutionize the market.
The introduction of lenses with minimal or no risk of adverse effects and no requirement for lens care solutions is boosting the demand for vision care products. The use of innovative technology to offer advanced features that provide best visual acuity and optical comfort will have a positive impact on the market growths to enhance geographical outreach across various regions will propel the growth of the global market during the forecast period.
Market Growth Enablers
- Increasing Aging Population and Age-related Eye Disorders
- Growing CVS and increasing Exposure to Digital Content
- Increasing Preference for Daily Disposable Contact Lenses
- Widening Usage Scope with Advent of New Generation Contacts
Market Growth Restraints
- Rise in LASIK Procedures for Vision Correction
- Low Accessibility, Affordability and Financial Exclusion for Large Patient Pool
- Associated Risks of Contact Lenses Usage
Market Opportunities & Trends
- Product Innovations and Advent of Smart Contact Lenses
- Rise of E-commerce as Preferred Distribution Channel
- Increase in Strategic Agreements and Consolidations
- Shrinking Usage Cycles and Preference for Disposability
The major vendors in the global market are:
- CooperVision Inc
- Johnson & Johnson
- Bausch & Lomb Incorporated
Other prominent vendors include:
- CARL ZEISS
- Contamac Holdings Limited
- Essilor International SA
- Hoya Corp.
- Menicon Co. Ltd
- Sensimed AG
- Ginko International Co. Ltd
- St. Shine Optical Co. Ltd.
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Report Coverage
5 Report Assumptions & Caveats
6 Market at a Glance
8 Overview of Eye Disorders Requiring Contact Lens Intervention
9 History of Contact Lenses
10 Market Dynamics
11 Value Chain Analysis
12 Global Contact Lenses Market
13 Market by Application Type
14 Market By Design Type
15 Market by Usage Type
16 Market By Distribution Channels
17 Market by Geography
For more information about this report visit https://www.researchandmarkets.com/research/kx8wl9/13_billion?w=4