Contact Lenses Market - Analysis of Opportunities, Challenges, Threat and Affecting Factors
The Report focuses on Contact Lenses Market Asia Pacific Market, especially in China, Japan, Taiwan, Korea, Southeast Asia, India and Australia. As well as United Kingdom.
(EMAILWIRE.COM, November 20, 2018 ) Contact Lenses Market Outlook and Analysis to 2026 - Leading Top Companies are Alcon Laboratories, Inc., Abbott Medical Optics, Inc., Bausch + Lomb, Incorporated, Carl Zeiss AG, CooperVision, Hoya Corporation, Johnson & Johnson Vision Care, Inc
The contact lenses market by usage type is segmented into Corrective, Therapeutic, Cosmetic, Prosthetic, and Lifestyle-oriented. The corrective lenses usage segment is currently growing at a CAGR of more than 6.2%. The demand is attributed to its various applications. Whereas, cosmetic lenses segment is expected to witness high growth during the forecast period. On the basis of design, the hybrid lens segment is anticipated to experience a noteworthy growth as it is a combination of both soft lenses and rigid gas permeable lenses. Thus, it provides comfort of soft lenses coupled with the visual clarity offered by rigid gas permeable lenses. The growth of hybrid lenses segment is expected to propel with the increased demand from people with keratoconus and astigmatism conditions.
The North America market holds the largest share owing to presence of better eye care treatment facilities as increasing elderly population. Although, the Asia Pacific market is expected to bolster with a high CAGR attributed to the increased awareness regarding contact lenses among the population as well as their increasing ability for healthcare spending.
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The contact lenses manufacturers and vendors are appealed by the high profit margins offered by the contact lenses thus, boosting its manufacturing as well as enhancing the network of distribution. Also, advancements in technology in form of material will provide new opportunities to the manufacturers with time. By type segment, the Rigid Gas Permeable (RGP) Lenses was valued over USD 800 million in 2017 owing to factors including, sharp vision, high oxygen permeability, cost-effectiveness in the long run, and durability.
The key strategies adopted by the market players include long-term partnerships among the other players in supply chain particularly, distributors and suppliers with an aim to increase their geographical footprint. For instance, in 2016, Vision Direct Group Ltd. was acquired by Essilor International S.A. for the enhancement of its online retailing business presence. Major industry players include Alcon Laboratories, Inc., Abbott Medical Optics, Inc., Bausch + Lomb, Incorporated, Carl Zeiss AG, CooperVision, Inc., Contamac U.S., Inc., Hoya Corporation, Essilor International S.A., Medennium and Johnson & Johnson Vision Care, Inc. among others.
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According to a new study published by Polaris Market Research the Global Contact Lenses market is anticipated to reach USD 18.9 billion by 2026. Once of the key factor driving the contact lenses market is to enhance aesthetic appearance by using them as fashion accessory particularly, by the youth population. Also, constant development in technology of product materials and given a boost to colored or decorative contact lenses, which is further anticipated to influence the demand.
Moreover, the rising incidences of visual imparities such as myopia, presbyopia, hyperopia and astigmatism is propelling the market growth. The World Health Organization, in 2015, estimated that approximately 1.9 billion people across the globe have been affected by myopia and the number is anticipated to be more than 2 billion by 2020. Thus, the demand for contact lenses during the forecast period will experience a growth.
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About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.
Contact us:
Mr. Neel
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
Email: neel@polarismarketresearch.com
Web: https://www.polarismarketresearch.com/
The contact lenses market by usage type is segmented into Corrective, Therapeutic, Cosmetic, Prosthetic, and Lifestyle-oriented. The corrective lenses usage segment is currently growing at a CAGR of more than 6.2%. The demand is attributed to its various applications. Whereas, cosmetic lenses segment is expected to witness high growth during the forecast period. On the basis of design, the hybrid lens segment is anticipated to experience a noteworthy growth as it is a combination of both soft lenses and rigid gas permeable lenses. Thus, it provides comfort of soft lenses coupled with the visual clarity offered by rigid gas permeable lenses. The growth of hybrid lenses segment is expected to propel with the increased demand from people with keratoconus and astigmatism conditions.
The North America market holds the largest share owing to presence of better eye care treatment facilities as increasing elderly population. Although, the Asia Pacific market is expected to bolster with a high CAGR attributed to the increased awareness regarding contact lenses among the population as well as their increasing ability for healthcare spending.
Get PDF Sample Brochure: https://www.polarismarketresearch.com/industry-analysis/contact-lenses-market/request-for-free-sample
The contact lenses manufacturers and vendors are appealed by the high profit margins offered by the contact lenses thus, boosting its manufacturing as well as enhancing the network of distribution. Also, advancements in technology in form of material will provide new opportunities to the manufacturers with time. By type segment, the Rigid Gas Permeable (RGP) Lenses was valued over USD 800 million in 2017 owing to factors including, sharp vision, high oxygen permeability, cost-effectiveness in the long run, and durability.
The key strategies adopted by the market players include long-term partnerships among the other players in supply chain particularly, distributors and suppliers with an aim to increase their geographical footprint. For instance, in 2016, Vision Direct Group Ltd. was acquired by Essilor International S.A. for the enhancement of its online retailing business presence. Major industry players include Alcon Laboratories, Inc., Abbott Medical Optics, Inc., Bausch + Lomb, Incorporated, Carl Zeiss AG, CooperVision, Inc., Contamac U.S., Inc., Hoya Corporation, Essilor International S.A., Medennium and Johnson & Johnson Vision Care, Inc. among others.
Make Inquiry about this report @ https://www.polarismarketresearch.com/industry-analysis/contact-lenses-market/inquire-before-buying
According to a new study published by Polaris Market Research the Global Contact Lenses market is anticipated to reach USD 18.9 billion by 2026. Once of the key factor driving the contact lenses market is to enhance aesthetic appearance by using them as fashion accessory particularly, by the youth population. Also, constant development in technology of product materials and given a boost to colored or decorative contact lenses, which is further anticipated to influence the demand.
Moreover, the rising incidences of visual imparities such as myopia, presbyopia, hyperopia and astigmatism is propelling the market growth. The World Health Organization, in 2015, estimated that approximately 1.9 billion people across the globe have been affected by myopia and the number is anticipated to be more than 2 billion by 2020. Thus, the demand for contact lenses during the forecast period will experience a growth.
Browse Complete Summary of this report with in-depth TOC @ https://www.polarismarketresearch.com/industry-analysis/contact-lenses-market/
About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.
Contact us:
Mr. Neel
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
Email: neel@polarismarketresearch.com
Web: https://www.polarismarketresearch.com/
Contact Information:
Polaris Market Research
Neel
Tel: +1-646-568-9980
Email us
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Polaris Market Research
Neel
Tel: +1-646-568-9980
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results