Contact Lenses Market Upsurging Demand, Growth, Business Insights by 2025

DEC 14 2020: The global Contact Lenses market size is expected to reach USD 19.26 billion by 2027, according to a new report by Radiant Insights, Inc. The market is anticipated to exhibit a CAGR of 5.0% from 2020 to 2027.

The use of innovative materials for manufacturing contact lenses and increasing adoption of contact lenses are prominent factors boosting the growth of the market. The rising consumer consciousness regarding physical appearance and vision correction advantages of the product are projected to drive the market growth. Rising demand from aging population is also expected to drive the product demand. Factors such as rising disposable income and improvement in the overall global economy are anticipated to further propel the growth.

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Contact lens manufacturers are the source for wholesale distributors as well as retail distributors. Manufacturers distribute their contact lenses through a variety of channels. Significant growth of the market can be attributed to factors such as increasing number of active lens wearers and technological advancements including the development of silicon hydrogel material for the soft lenses for convenient usage are expected to bode well for the growth of the contact lenses market in the forthcoming years.

In the material segment, the hybrid contact lens is expected to portray the highest CAGR over the forecast period. By application, the adoption of corrective contact lenses is anticipated to rise, owing to increasing use of for correction of refractive errors. They are used for correcting hypermetropia/hyperopia, presbyopia, astigmatism, and myopia. Based on usage, the daily disposables contact lenses accounted for the largest market share in 2019.

Further key findings from the report suggest:

• Soft lenses segment is expected to generate the highest revenue over the forecast period. The product has the highest acceptance rate, owing to its flexibility and oxygen permeability along with ability to provide user comfort

• The multifocal design segment is expected to portray a high CAGR of 7.1% over the projected period

• South America is expected to register significant growth over the forecast period, owing to the large-scale penetration of contact lenses

• The key players in the content lenses market areAbbott Medical Optics, Inc.; Alcon Vision LLC; Bausch & Lomb, Incorporated; ZEISS International; Contamac; CooperVision, Inc.; Essilor International S.A.; Hoya Corporation; Johnson & Johnson Vision Care, Inc.; Medennium; Seed Co., Ltd.; STAAR Surgical Company; SynergEyes, Inc.; and X-Cel Specialty Contacts

To Browse Full Research Report @:
https://www.radiantinsights.com/research/contact-lenses-market-analysis

Table of Contents

Chapter 1 Methodology and Scope

1.1 Market Segmentation & Scope

1.2 Market Definition

1.3 Information Procurement

1.4 Information Analysis

1.5 Market formulation & data visualization

1.5.1 Secondary sources & third-party perspectives

1.5.2 Primary research

1.6 Research Scope & Assumptions

Chapter 2 Executive Summary

2.1 Market Outlook

2.2 Segmental Outlook

2.2.1 Material outlook

2.2.2 Design outlook

2.2.3 Application outlook

2.2.4 Distribution Channel outlook

2.2.5 Usage outlook

Chapter 3 Contact Lenses Market Variables, Trends & Scope

3.1 Penetration & Growth Prospect Mapping

3.1.1 Market Growth Prospects

3.1.2 Market Penetration Mapping

3.2 Industry Value Chain Analysis

3.2.1 Raw Material Trends

3.2.1.1 Major Raw Materials Market Analysis

3.2.2 Manufacturing Trends

3.2.2.1 Technology Trends

3.2.3 Sales Channel Analysis

3.3 Technology Overview

3.3.1 Technology Timeline

3.4 Regulatory Framework

3.5 Market Dynamics

3.5.1 Market driver analysis

Continued………………….


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About Radiant Insights:
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.

Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Email: sales@radiantinsights.com
Phone: (415) 349-0054
Address: 201 Spear St #1100, Suite #3036
City: San Francisco
State: California
Country: United States
https://marketsandtrendsreport.blogspot.com/

Author: Steve

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