The Global Contact Lens Market Size is anticipated to gain traction owning to the factors such as continuous technological development by the manufacturers that focus on developing capable materials which are easy to use.
Contact lens are simply considered as a medical device that is used for correct vision, or for cosmetic reasons. Contact lenses are used as fashion accessory to provide aesthetic appearance. These lens also provide goods vision, and are comfortable to wear for short adoption period. Moreover, contact lens has a long life which can be worn for more than 7 days depending on the type of lenses preferred. Contact lens also reduce the chances of infection and provides good health to the eyes. However, disadvantages like consistent wear to maintain adaption, regular office visits and office follow-ups, and delicate to handle would limit the growth of contact lens market.
The corrective lens is used for adjusting refracting visions errors and treatment of vision deficiencies namely myopia, presbyopia and many more. The contact lens industry participants are majorly focusing on the partnerships with the distributors for strengthening their market presence.
The contact lens market is primarily driven by the factors such as growing number of patients with visual deficiencies like myopia, presbyopia, astigmatism, and hyperopia. According to WHO, around 1.5 billion of people worldwide and it is projected to reach 2 billion by 2020. Moreover, National Eye Institute America states that East Asians show highest prevalence of around 69% at 15 years of age.
High profit margins for the manufacturers of contact lenses also creates opportunity for the vendors across the globe. Moreover, the technological advancement for developing new product would also spur the market of contact lens in the near future. Additionally, increasing use of lens for aesthetic appearance by the youths would also influence the contact lens market.
However, high cost of particular treatment that vary according to the lens would hinder the growth of contact lens market in the near future.
The contact lens market is segmented on the basis of product type, design, type, usage, end users, and geography.
On the basis of product type, the global contact lens market size is segmented as:
On the basis of design type, the global contact lens market share is segmented as:
On the basis of lens type, the global contact lens market size is segmented as:
On the basis of product type, the global contact lens market share is segmented as:
On the basis of product type, the global contact lens market is segmented as:
Geographically, the contact lens market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
On the basis of geography, North America is expected to dominate the global contact lens market over forecast period. North America has majority share in this market owning to the rising healthcare expenditure and increased demand for contact lenses owning to the increasing number of patients suffering from visual disorders in this region. Similarly, increasing number of patients preferring contact lenses would also influence the contact lenses market in the North America.
However, Asia Pacific is anticipated to grow at a faster rate during the forecast period. Increasing number of patients with visual disorders, high attraction in young population, and increased awareness for the use of contact lenses for cosmetic upgradations are the major factor anticipated to govern the contact lens market during upcoming years.