Improving Lens Functionality and Aesthetic Benefits Drive Growth in the Contact Lenses & Solutions Market
Published: January 2018
- Code: MCP-3210
- Pages: 319
- Tables: 127
- Companies: 62
CONTACT LENSES AND SOLUTIONS: A RESEARCH BRIEF
The global market for Contact Lenses and Solutions is projected to reach US$14.3 billion by 2024, driven by the increase in the number of people suffering from refractive errors, growing preference for aesthetic options for correcting common types of myopia, and launch of lenses with improved functionality. Benefits offered by contact lenses driving its adoption include cosmetic and aesthetic advantages; provides a more natural field of view; superior visual clarity and reduced distortions; lighter and less obtrusive; and reduced risk of breakage during outdoor activity. Technology innovations such as high performance lenses that maximize oxygen flow to eyes, and provide comfort, breathability and convenience are helping expand the wearer base. Custom contact lenses and made-to-measure contact lenses are growing in popularity, encouraging its use among the younger population. The United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 6.4% through the analysis period, led by myopia epidemic in Asian population especially in China, Japan and Korea; increase in the number of sophisticated eye care providers and early diagnosis; growing preference for daily contact lenses and aggressive promotional strategies of multinational companies.
- Fears Over the Risk of Eye Infections such as Fungal Keratitis Fuels Demand for Daily Disposable Contact Lenses
- Benefits such as Higher Oxygen Permeability and Reduced Risk of Corneal Infections Drive Preference for Silicon Hydrogel Lenses
- Advancements in Materials to Unfurl New Applications for Contact Lenses Beyond Vision Correction such as Therapeutic Contact Lens for Treatment of Ocular Pathologies and Post-Surgical Corneal Protection
- Development of Smart Contact Lenses to Monitor Intraocular Pressure and Deliver Drugs in Glaucoma Treatment to Bring In New Opportunities for Growth
- Risk of Eye Infections and Corneal Ulcers: A Key Challenge Impeding Adoption
Summary of Findings
- Market Estimates and Forecasts for 2016-2024
- Historic Review 2011-2015
Timeline for Analysis
- US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America)
Geographic Markets Analyzed
- Contact Lenses (Rigid Gas Permeable Lenses, Soft Contact Lenses, & Hybrid Contact Lenses), and Contact Lens Care Solutions
- Product Segments:
- Spherical Lenses, Toric Lenses, and Multifocals.
Market Segmentation & Classification
- Alcon, Inc.
- Bausch & Lomb, Inc.
- CooperVision, Inc.
- Ginko International Co., Ltd.
- Johnson & Johnson Vision Care, Inc.
- St. Shine Optical Co., Ltd.
KEY RESEARCH DELIVERABLES
- Review of Industry/Market Structure
- Analysis of Trends & Drivers
- Insights on Macro Market Scenarios
- Market SWOT Analysis
- Latent Demand Forecasts & Projections
- Comprehensive Geographic Market Analysis
- Presentation Ready Facts & Statistical Data Findings
- Coverage of Major/Niche Players, Market Shares & Competition
- Coverage of major Company/Technology/Product/Financial Stories
- Extensive Product/Service/End-Use/Technology Coverage Where Applicable