$13 Billion Contact Lenses Market - Global Outlook and Forecast 2018-2023 - ResearchAndMarkets.com

DUBLIN--()--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 Dynamics

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
  • Novartis
  • Johnson & Johnson
  • Bausch & Lomb Incorporated

Other prominent vendors include:

  • CARL ZEISS
  • Contamac Holdings Limited
  • Essilor International SA
  • Hoya Corp.
  • Menicon Co. Ltd
  • Sensimed AG
  • SynergEyes
  • UltraVision
  • 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

7 Introduction

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

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Related Topics: Optical, Eye Care and Eyewear

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Optical, Eye Care and Eyewear