Global Contact Lenses Market – Snapshot
Contact lenses are thin lens placed on the direct surface of the eye. They can be used for cosmetic or vision correction. Contact lenses have many advantages over spectacles. Contact lenses move with the eyes, allowing a natural view with no vision obstruction. Unlike glasses, they do not get splattered by dust or fog up. Contact lenses are the best options for sports and other water activities.
The global contact lenses market has been segmented on the basis of product type, design type, wear type, distribution channel, and region. Based on product type, the market is segmented into soft lenses and gas permeable lenses. Soft lenses are further sub segmented as daily wear, and extended wear. As compared to gas permeable, soft lenses are more widely used globally.
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Contact lenses are increasingly used in worldwide healthcare sector for achieving various vision correction procedures. Apart from this, they are used for cosmetic purposes as well. Contact lenses refer to thin lens placed on the direct surface of an eye. In recent few years, major population from all across globe is growing preference toward the use of contact lenses over spectacles. This scenario is on the back of diverse advantages of contact lenses. Therefore, the global contact lenses market is expected to gain extensive expansion avenues in the forthcoming years.
Soft lenses and gas permeable lenses are two major product types available in the global contact lenses market. These products hold the ability to move with eyes of an individual. This allows for gaining a natural view and no obstruction in vision. In contrast to glasses, contact lenses do not fog up or get splattered by dust. These products are increasingly used while performing various sports as well as other water activities. On the back of all these factors, the global contact lenses market is estimated to gather promising demand opportunities in the years ahead.
Due to the COVID-19 pandemic, major worldwide population is inclined toward buying products through online channels. Considering this scenario, the vendors working in the global contact lenses market are focused on strengthening their online distribution channels.
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Major enterprises working in the global contact lenses market are growing focus toward improving the quality of their products. Thus, they are directing investment toward research and development activities. Apart from this, many enterprises in the global market for contact lenses are incorporating technological advancements. The main motive of these efforts is to advance the comfort levels of individuals using contact lenses. All these activities are estimated to work in favor of the global contact lenses market in the years to come.
Based on design type, the contact lenses market is classified into spherical, toric, multifocal, and others. The spherical segment held major share in the global contact lenses market. In toric contact lenses, the lenses rely on gravity to rotate to the right angle in order to correct the warp in the cornea. In terms of wear type, the contact lenses market is segmented into disposable and reusable. Reusable segment accounted for major share in 2017. However the disposable segment is anticipated to expand in future as these are easy to use and maintenance free.
Based on distribution channel, the contact lenses market has been segmented into online and offline. Online can be further sub segmented as e-commerce and company owned portal. Offline segment can be divided into exclusive stores and multi-brand stores. Multi-brand stores segment is anticipated to grow during the forecast period. Offline has the major share across the globe; however the online segment is expanding steadily over time.
The North America contact lenses market is mainly driven by factors such as aging population, rising prevalence of myopia etc. The U.S. dominates the contact lenses market. Although North America forms the major chunk of the contact lenses market, demand for contact lenses in Asia Pacific is expected to increase globally during the forecast period. Companies are expanding their portfolio by introducing advanced techniques to make contact lenses more comfortable for use.
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The contact lenses market is consolidated due to the dominance of few strong players such as Bausch & Lomb Incorporated, Alcon (Division of Novartis AG), Johnson & Johnson Vision Care, Inc., CooperVision, Inc., ZEISS International, SEED Co. Ltd, Hoya Vision Care Company, Essilor, Menicon Co. Ltd, and BenQ Materials Corporation which are the key companies profiled in the research report. The report also offers competitive landscape of key players in the contact lenses market.
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