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(Medical-NewsWire.com, February 12, 2018 ) According to the report Global Contact Lenses Market published by Market Data Forecast, the global market projected to reach USD 15.1 billion by 2021, at a CGSR of 7.60% from 2016 to 2021.
View report at http://www.marketdataforecast.com/market-reports/global-contact-lenses-market-1697/
A contact lens is a thin and curved lens which is placed on the surface of the eye. They can be used for cosmetic and novelty purpose or for vision correction. Contact Lenses are medical devices, regulated by Food and Drug Administration (USA) hence requires prescription. The various types of contact lenses are Silicone Hydrogel Contact Lenses, Soft contact lenses, and Rigid Gas Permeable Contact Lenses, among others. Contact lenses come with particular wear schedules such as Extended Wear Contact Lenses and Disposable Contact Lenses. Extended Wear Contact Lenses can be worn overnight for a period ranging from 6 to 30 days, whereas Disposable Contact Lenses can be discarded after use. As contact lenses, do not contain water traces, it can withstand any deposits build up.
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The growth of Contact Lenses market is majorly driven by factors such as rising public awareness, affordability, convenient to use, presence of umpteen numbers of brands, improving economy, growth in online sales, increase in disposable income, wider range of products, growth in eye disorder, and consumers’ preference for lenses over glasses. Additionally, consumer group, specifically youngsters are drawn towards cosmetic lenses to improve their appearance, thereby spurring up the demand for the product. The rise in aging population is also expected to increase the demand for the product. The advanced technology in contact lenses made it possible for people suffering from astigmatism and presbyopia to opt for contact lenses, thereby spiking the demand for the product. The key constraints of the market are increase in demand for corrective eye surgery (Laser-Assisted in Situ Keratomileusis ‘LASIK’ and Photorefractive Keratectomy ‘PRK’), cut-throat competition, economic slowdown, and serious hazards of contact lenses (infections, eye dryness, itchiness in the eye, conjunctivitis, and corneal ulcer, among others).
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The products are segmented based on Material, Application, and Design and studied for a deep-level understanding of the Contact Lenses Market. Each sub segment is accompanied with Market Size Estimations and Y-o-Y Forecasts as well.
Key Points from Table of Contents
Overview
Executive Summary
Key Inferences
New Developments
Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
Industry Segmentation
Based on Material
Based on Application
Based on Design
Geographical Analysis
Pipeline Product Analysis
Strategic Analysis
8.1 PESTLE analysis
8.2 Porter’s five analysis
Industry Leaders' Analysis
Competitive Landscape
The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Middle-East and Africa. North America is expected to command the major market share of 37% in 2016 followed by Europe. Asia Pacific is anticipated to be the fastest growing region for the product with a CAGR of 8.16% during the forecast period 2016-2021.
Geographical Segmentation:
North America Contact Lenses Market
Europe Contact Lenses Market
Asia-pacific Contact Lenses Market
Latin America Contact Lenses Market
Middle East and Africa Contact Lenses Market
The key players in Global Contact Lenses Market are Johnson & Johnson (USA), Bausch & Lomb (USA), Carl Zeiss AG (Germany), CooperVision (USA), Alcon Laboratories, Inc (USA), Hydrogel Vision Corp (USA), Abbott Medical Optics, Inc. (USA), CIBA Vision (USA), Essilor International (France), and Contamac (United Kingdom).
Future trend of Contact Lenses is Smart Contact Lenses mains that a contact lens integrates a set of electronic components and forming a specific function. They may be used to monitor diabetes by measuring intraocular pressure, tear glucose, or for presbyopia and myopia control, low vision.
Scope of the report
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.
About Market Data Forecast
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Phone: +1-888-702-9626
Market Data Forecast
Abhishek Shukla
+1-888-702-9626
abhishek@marketdataforecast.com
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