Dublin, April 03, 2019 (GLOBE NEWSWIRE) -- The "Contact Lenses Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering. The global contact lenses market is estimated to reach revenues of more than $12 billion by 2024, growing at CAGR of around 6% during 2018-2024. The advent of low-cost manufacturing techniques and the invention of new silicone hydrogel-based polymers will boost the demand for daily use, the disposable lens in the market. The leading vendors are launching new variants with advanced features, which include advanced technologies providing the best visual acuity and ocular comfort to consumers in the market. The global contact lenses market is driven by the launch of specialized products with advanced features, which provide high optical comfort, better oxygen permeability, high visual acuity, and minimal or no risk of lenses-related adverse effects. The market research report provides in-depth market analysis and segmental analysis of the global contact lenses market by design, usage, application, distribution channels, and geography. The report considers the present scenario of the global contact lenses market and its market dynamics for the period 20192024. It covers a detailed overview of various market growth enablers, restraints, and trends. The study includes both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market. Contact Lenses Market - Dynamics The global contact lenses market witnessed a plethora of advancements in terms of design and manufacturing. Recent innovations witnessing in vision care industry have led to advancements in contact lenses as well as increased the available options for end-users. With increasing technological innovations, currently, the choices are vast for consumers. Vendors are especially focused on using innovative technological platforms to increase the comfort and ease-of-use for contact lenses. The usage pattern of various contact lens materials has also changed significantly over the past decade. Earlier generation soft contact lenses were made of plastic polymers, which provided comfort, but featured poor oxygen breathability. Vendors are strategically focusing on the development and commercial launches of their contact lenses for visual impairment disorders like presbyopia, myopia, hypermetropia, astigmatism, Aphakia, and keratoconus. New product approvals/launches coupled with R&D activities help the vendors to expand their presence, enhance market growth, and sustain their market position in the heart valve repair and replacement devices market. Vendors are actively involved in launching innovative devices to penetrate and tap the huge growth potential prevailing in the market. Contact lens technology has significantly advanced in the last few decades. In recent years, contact lens manufacturers have introduced innovative contact lens designs featuring advanced technology and lens materials, which offer utmost optical comfort and provide crystal clear vision and high permeability. Some of the new generation lenses have features to enhance the limbal ring. Contact Lenses Market - Segmentation The global contact lenses market by design is classified into spherical, toric, and multi-focal. Spherical segment occupied more than 50% of the total market share in 2018, growing at a CAGR of over 4% during the forecast period. These products are typically fabricated as rounded design lenses, which are used to correct myopia (nearsightedness) or hyperopia (farsightedness) in the market. The continual innovations in product designs and the increasing presbyopic population will fuel the requirement for the multifocal lens in the global contact lenses market. The usage segment in the worldwide contact lenses market is categorized into the daily disposable and replacement lens. Daily disposable lens is the fastest growing segment in the global market, at a CAGR of around 8% during the forecast period. The extensive use of daily disposable products for aesthetic purposes or people with allergies or dry eyes is driving the growth of this segment in the global market. The emergence of new generation extended wear contact lenses with features such as high oxygen permeability, and high ocular comfort is expected to drive the global contact lenses market in the foreseeable future. Contact Lenses Market - Geography The geographical segment in the worldwide contact lenses market is classified into North America, Europe, APAC, Latin America, and MEA. APAC is the fastest growing region in the global market, at a CAGR of over 6% during the forecast period. The increasing investment in R&D across the healthcare sector including vision care, free trade economics across the region supported with progressive government policies, and availability and access to pharmaceutical and medical device products are some of the factors contributing to the growth of the APAC market. The rise of refractive vision disorders, ocular ailments, and a high preference for cosmetic lenses with better access to eye care services is driving the market in North America. The UK, Germany, France, Spain, and Italy accounted for nearly 80% of the European region in the global market. Key Vendor Analysis The global contact lenses market is witnessing intense competition and is subjected to continual technological changes and evolving vision correction requirements. The leading vendors are competing by product variety, pricing, quality, technical leadership and innovation, and efficacy. The increasing number of partnerships between healthcare providers and eye care professionals will intensify the competition in the market. Top players are focusing on implementing various strategies such as product launches and approvals, marketing and promotional activities, acquisitions, increase R&D investment, and strengthen their distribution networks to enhance their global contact lenses market share. The major vendors in the global market are:
- Johnson & Johnson
- Novartis
- The Cooper Companies
- Bausch & Lomb
Key Topics Covered: 1 Research Methodology 2 Research Objectives 3 Research process 4 Report Coverage 4.1 Market Definition 4.2 Base Year 4.3 Scope of Study 5 Report Assumptions & Caveats 5.1 Key Caveats 5.2 Inclusions 5.3 Exclusions 5.4 Currency Conversion 5.5 Market Derivation 6 Market at a Glance 7 Introduction 7.1 Vision Function and Impairment: An Overview 7.1.1 Treatment Options 7.1.2 Causes of Visual Impairment 7.1.3 Epidemiology 7.2 Contact Lenses 8 Eye Disorders Requiring Contact Lens Intervention: Overview 8.1 Myopia 8.1.1 Symptoms 8.1.2 Treatment 8.2 Hypermetropia 8.3 Astigmatism 8.4 Presbyopia 8.5 Aphakia 8.6 Keratoconus 8.7 Glaucoma 9 Market Dynamics 9.1 Market Growth Enablers 9.1.1 Growing Prevalence of Vision-related Disorders and Increasing Geriatric Population 9.1.2 Growing Computer Vision Syndrome (CVS) and Increasing Exposure to Digital Content 9.1.3 Increasing Preference for Daily Disposable Contact Lenses 9.1.4 Widening Usage Scope and Availability of Broad Range of Innovative Contact Lenses 9.2 Market Growth Restraints 9.2.1 Rise in LASIK Procedures for Vision Correction 9.2.2 Low Accessibility, Affordability, and Financial Exclusion for Large Patient Pool 9.2.3 Associated Risks of Contact Lenses Usage 9.3 Market Opportunities & Trends 9.3.1 New Product Approvals/Launches 9.3.2 Increase in Strategic Acquisitions and Partnerships 9.3.3 Rise of E-commerce as Preferred Distribution Channel 9.3.4 Product Innovations and Advent of Smart Contact Lenses 10 Value Chain Analysis 10.1 Value Chain Overview 10.1.1 Raw Materials 10.1.2 Manufacturers 10.1.3 Distributors 10.1.4 Retailers 10.1.5 End-user Consumers 11 Global Contact Lenses Market 11.1 Market Overview 11.2 Market Size & Forecast 11.3 Porter's Five Forces Analysis 12 By Material Type 12.1 Market Overview 12.2 Silicone Hydrogel Contact Lenses 12.3 Hydrogel Contact lenses 12.4 RGP Contact Lenses 12.5 Others 13 By Application Type 13.1 Market Overview 13.2 Corrective Contact Lenses 13.3 Therapeutic Contact Lenses 13.4 Cosmetic Contact Lenses 14 By Design Type 14.1 Market Overview 14.2 Spherical Contact Lens 14.3 Toric Contact Lenses 14.4 Multi-focal Contact Lenses 15 By Usage Type 15.1 Market Overview 15.2 Daily Disposable Contact Lenses 15.3 Frequent Replacement Contact Lenses 15.4 Frequent Replacement Contact Lenses Market Segmentation 15.5 Monthly Use Contact Lenses 15.6 Weekly Use Contact Lenses 15.7 Others 16 By Distribution Channels 16.1 Market Overview 16.2 Optical Retail Stores 16.3 Hospitals and Eye Clinics 16.4 Online Stores 17 By Geography 17.1 Market Overview 18 North America 19 APAC 20 Europe 21 Latin America 22 Middle-East & Africa 23 Competitive Landscape 23.1 Competitive Scenario 23.2 Market Vendor Share Analysis 2017 23.3 Key Competitive Strategies of Vendors 23.4 Strategic Recommendations for Market Participants 24 Key Company Profiles 24.1 Johnson & Johnson 24.1.1 Business Overview 24.1.2 Global Contact Lenses Market 24.1.3 Major Product Offerings 24.1.4 Key Strategies 24.1.5 Key Strengths 24.1.6 Key Opportunities 24.2 Novartis 24.3 The Cooper Companies 24.4 Bausch & Lomb 25 Other Prominent Vendors 25.1 CARL ZEISS 25.1.1 Company Overview 25.1.2 Product Offerings 25.1.3 Key Strengths 25.1.4 Key Strategies 25.1.5 Key Opportunities 25.2 Essilor International 25.3 Hoya 25.4 Menicon 25.5 Sensimed AG 25.6 SynergEyes 25.7 UltraVision CLPL 25.8 Ginko International 25.9 St. Shine Optical 25.10 Visioneering Technologies For more information about this report visit https://www.researchandmarkets.com/research/c...ntact?w=12
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