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Contact Lenses Market

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Growing inclination of people, especially today’s youth, to enhance their aesthetic appearance is driving the growth of contact lenses market. Further, changing doctor’s attitudes and practices in fitting contact lenses is also believed to impel the growth of the market. In North America, optometrists are more willing to fit contact lenses as primary over glasses due to its improved properties such as comfort and better oxygen permeability. According to American Optometric Association survey, 30% doctors are more likely to fit children with contact lenses attribute their change in fitting behavior to daily disposable lenses and 23% of doctors cite improved contact lens materials. The ease of use and comfortable lens-wearing experience is appealing to new patients which is set to spearhead the growth of North America contact lenses market in the years ahead.

Contact lenses continued to see positive growth in 2018, driven by the strong growth of daily disposable lenses (DD). Consumers’ needs and preferences within contact lenses are becoming more complex. Thus, the demand for specialty contact lenses grew positively towards in the past few years. The range of contact lenses is expanding as treatment of new issues rises. Demand for innovative contact lenses targeting age-related eye issues, such as presbyopia, is set to rise over the forecast period alongside the UK’s ageing population.

Contact lenses is enjoying steady growth in various developed countries with new product launches and innovations increasing their attractiveness. Addition to that, the rising prevalence of myopia in various countries such as U.K. remains a primary factor behind the increasing demand for contact lenses.

Market Segmentation:

This report broadly segments the global contact lenses market into type, design, product and distribution channel. The contact lenses market, by type is segmented into rigid gas permeable contact lenses, soft contact lenses and hybrid contact lenses. In the type of contact lenses segment, soft contact lenses hold a major share of the total market share.

By design, the contact lenses market is segmented into spherical, bifocal, multifocal, toric and others. The market is also analyzed by product into corrective lens, therapeutic lens, cosmetic lens and prosthetic terms.

By distribution channel, the report covers insights on sales channel into online stores and offline stores. According to our analysis, internet retailing is the most growing channel amongst all distribution channels for contact lenses during the forecast period.

In the terms of geography, the global contact lenses market is segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. In 2017, Asia Pacific grabbed the major market of the contact lenses. Factors such as rising disposable income and increasing inclination of young generation towards cosmetic contact lenses are anticipated to impel the growth of the market. Europe is poised to grow at significant CAGR during the forecast period.

Posted on : 09/04/2019, #, Edit

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