Global Contact Lenses Market to Reach US$15.8 Billion by the Year 2026
Saturday, August 13, 2022
DUBLIN, Aug. 5, 2022 /PRNewswire/ -- The "Contact Lenses - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
http://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
Global Contact Lenses Market to Reach US$15.8 Billion by the Year 2026
Growth in the global market is buoyed by growing awareness of the use of contact lenses to correct vision disorders, growing incidence of ophthalmic or vision related disorders, convenience, favorable demographics, and rapid penetration of high-value products. Awareness programs conducted in various developing countries are particularly expected to continue to boost demand for vision care devices, including contact lenses.
Rapid expansion in wearer base with reducing age of contact lens users coupled with strong growth in specialty lens segment and advancements in material science continue to improve industry prospects. Growing demand for cosmetic lenses in emerging countries further aids market growth.
Amid the COVID-19 crisis, the global market for Contact Lenses estimated at US$13 Billion in the year 2022, is projected to reach a revised size of US$15.8 Billion by 2026, growing at a CAGR of 5.5% over the analysis period.
Direct-to Consumer, Subscription Services & Online Sales Gain Traction
Subscription services comprise an upcoming model in the contact lenses market. The subscription model combines the convenience of delivery and payments by shipping contacts directly to the patient homes at regular intervals for a monthly subscription price. The service includes quarterly, semi-annual, or annual contact lens deliveries and can also be combined with vision insurance benefits. One of the noteworthy trends in the eyewear industry over the recent years has been the rise of Internet and mail order as a highly potential channel for selling eyeglasses and contact lenses. Thanks to the growing popularity of E-commerce and Internet based sales transactions, the revenue inflow for eyeglasses and contact lenses from cyberspace is increasingly on the rise. Internet represents the fastest growing retail channel in the total prescription contact lens market.
This paradigm shift in consumer purchasing habits is buoyed by the ongoing shift to disposable lenses which have a planned replacement regime ranging from daily to quarterly to annually. This factor has played an important role in expanding the market for mail-order and online stores as these providers offer a quick and easy way to order and purchase lenses. Though contact lenses are treated as medical devices, consumers often forego ocular health exams while obtaining replacement lenses from online retailers.
Key Players
-- Bausch & Lomb Incorporated
-- BenQ Materials Corp.
-- HOYA Corporation
-- Johnson & Johnson Vision Care, Inc.
-- Menicon Co. Ltd.
-- SEED Co. Ltd.
-- Shanghai Haohai Biological Technology Co., Ltd.
-- SynergEyes Inc.
-- The Cooper Companies Inc.
-- ZEISS International
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
-- As Sustainability Becomes a Global Agenda, Contact Lens Manufacturers
Focus on Plastic Free Lenses
-- New Contact Lens Technologies Go Beyond Vision Correction
-- Contact Lenses Enter the Diagnosis Space
-- Johnson & Johnson Vision Develops Contact Lenses to Tackle Eye Allergies
-- Manufacturers Work towards Development of Lenses with Robust
Antimicrobial Properties
-- High-tech Contact Lenses to Redefine Market Landscape
-- Smart Contact Lenses Emerge as Next Stop for Sophisticated Wearable
Technology
-- Potential Applications
-- Lenses to Measure Eyeball Pressure
-- Contact Lenses Worn During Sleep
-- Lenses to Block Harmful UV Ray
-- Telescopic Contact Lenses
-- Advanced Contact Lenses to Monitor Glucose Levels
-- Drug Delivery through Contact Lenses: An Emerging Area of Interest
-- Innovation Trends in Contact Lenses
-- Demand for Multifocal contact lenses on the Rise
-- Online Exams for Vision: A New Route to Widen Reach
-- Contact Lens with Switchable Capability to Address AMD
-- Contact Lenses to Address Concerns over Excess Digital Device Usage
-- Water Gradient Contact Lenses: A Novel Development
-- Addressing the Contact Lens Discomfort
-- Scleral GP Lenses Continue to Draw Opportunities led by Material Design
-- Presbyopes:Another Opportunity Market for Scleral Contact Lenses
-- Craze for Tints Opens New Avenues
-- Manufacturers Gear up to Recycle Contact Lenses
-- Safety of Contact Lenses: A Major Concern
-- Competition on Rise from Advanced Vision Correction Technologies
-- Pure-Play Retailers Challenge Independent Optometry Channels
-- Rise in Online Stores
-- Direct-to Consumer and Subscription Services Gain Traction
-- Diversity in Contact Lens Purchasing Patterns
-- Urbanization: A Megatrend with Significant Implications for Contact
Lenses Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/4u3sn
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: http://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/global-contact-lenses-market-to-reach-us15-8-billion-by-the-year-2026--301600689.html
SOURCE Research and Markets
|
|
|
|
|
 |
Zumedia Inc. Launches Groundbreaking New Advertising And Broadcast Platform, Setting Its Sights On Utilizing Ad-Generated Revenue To Promote A New Balance Of Wealth | Apr 26, 2024
|
|
OVER HALF OF AMERICANS ARE MORE LIKELY TO TRY PRODUCTS PROMOTING HEALTHIER, SUSTAINABLE LIFESTYLES, NCSOLUTIONS CONSUMER STUDY REVEALS | Apr 26, 2024
|
|
Oracle Helps Healthcare Organizations Solve Critical Supply Chain, HR, and Finance Challenges | Apr 26, 2024
|
|
Happiest Minds Technologies is ranked #2 among Fortune's Top 30 Future-Ready Workplaces of India | Apr 26, 2024
|
|
Corero Network Security Launches Hybrid Cloud DDoS Protection Solution | Apr 26, 2024
|
|
DeFi Technologies Subsidiary Valour Inc. Launches the First Short Spot Bitcoin ETP in the Nordics | Apr 26, 2024
|
|
MIND TECHNOLOGY ANNOUNCES FISCAL 2024 FOURTH QUARTER AND YEAR-END EARNINGS RELEASE AND CONFERENCE CALL SCHEDULE | Apr 26, 2024
|
|
Global Connectivity Demands Fuel Rapid Growth of Satellite IoT Market to a US$4 Billion Frontier by 2030 | Apr 26, 2024
|
|
MapUp Announces New Integration with Samsara to Enable Real-Time Toll Billing | Apr 26, 2024
|
|
HealthSignals Secures Telehealth Agreement with Premier, Inc. | Apr 26, 2024
|
|
|
