Contact Lenses Market – Detailed Analysis of Current Industry Figures with Forecasts Growth By 2026

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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.

According to a new study 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.

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.

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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.

Table of content:

1. Overview and Scope

1.1. Research goal & scope

1.2. Research assumptions

1.3. Research Methodology

1.3.1. Primary data sources

1.3.2. Secondary data sources

1.4. Key take-aways

1.5. Stakeholders

2. Executive Summary

2.1. Market Definition

2.2. Market Segmentation

3. Contact Lenses Market Insights

3.1. Contact Lenses ? Industry snapshot

3.2. Contact Lenses – Ecosystem analysis

3.3. Contact Lenses market dynamics

3.3.1. Contact Lenses ? Market Forces Contact Lenses Market driver analysis Contact Lenses Market restraint/challenges analysis Contact Lenses Market opportunity analysis

3.3.2. Industry analysis – Porter’s five force Bargaining power of supplier Bargaining power of buyer Threat of substitute Threat of new entrant Degree of competition

3.3.3. Contact Lenses market PEST analysis, 2017

3.3.4. Value Chain Analysis

3.3.5. Contact Lenses Industry trends

3.3.6. Competitive Ranking Analysis

4. Contact Lenses Market Size and Forecast by Product Type

4.1. Key findings

4.2. Rigid Gas Permeable Lens

4.2.1. Global market estimates and forecasts, 2017 – 2026

4.3. Hybrid Lens

4.3.1. Global market estimates and forecasts, 2017 ? 2026

4.4. Soft Lens

4.4.1. Global market estimates and forecasts, 2017 ? 2026

5. Contact Lenses Market Size and Forecast by Design Type

5.1. Key findings

5.2. Spherical Lenses

5.2.1. Global market estimates and forecasts, 2017 – 2026

5.3. Toric Lenses

5.3.1. Global market estimates and forecasts, 2017 ? 2026

5.4. Multifocal Lenses

5.4.1. Global market estimates and forecasts, 2017 ? 2026

5.5. Others

5.5.1. Global market estimates and forecasts, 2017 ? 2026

6. Contact Lenses Market Size and Forecast by Usage Type

6.1. Key findings

6.2. Corrective Lens

6.2.1. Global market estimates and forecasts, 2017 – 2026

6.3. Therapeutic Lens

6.3.1. Global market estimates and forecasts, 2017 ? 2026

6.4. Cosmetic Lens

6.4.1. Global market estimates and forecasts, 2017 – 2026

6.5. Prosthetic Lens

6.5.1. Global market estimates and forecasts, 2017 – 2026

6.6. Lifestyle-oriented Lens

6.6.1. Global market estimates and forecasts, 2017 – 2026

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Global Color Contact Lenses Market Insights, Forecast to 2025

Colored contact lenses allow you to change your?eye color?and create a look that’s subtle, bold or anywhere in between ? whether you want to enhance your everyday look or rock a crazy design for Halloween and other special occasions.

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