Increasing Cases Of Diabetics And Glaucoma, Which Affect Eye Sight, Are Driving The Sales Of Advanced Contact Lenses, Which Is Subsequently Pushing The Demand For Lens Solutions
United States, Rockville MD, Aug. 12, 2022 (GLOBE NEWSWIRE) — As per the latest industry analysis by Fact. MR, a market research and competitive intelligence provider, the global contact lens solutions market is currently valued at around US$ 3 billion and is anticipated to expand at a CAGR of 3% through 2026.
Globally, the cases of optical disorders are rising gradually, which bodes well for the marketplace for contact lenses and the methods used to clean them. The market for disposable lenses and lens solutions is also developing rapidly as the result associated with the rising elderly population’s medical problems and increasing diabetic cases.
Growing prevalence of eye conditions such as hypermetropia and myopia can also be influencing the usage of contact lenses, and, consequently, driving the demand for cleaning solutions. The particular ongoing transition to daily disposable lenses is expected to have an influence on the need for lens care products, although the particular development of new products will be anticipated to maintain market growth momentum.
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Future marketplace penetration is usually likely to rise globally, largely as a result of growing R& D activities plus new product improvements that will broaden the pool of potential contact lens wearers. Currently, no-rub multipurpose solutions are spreading quickly across store aisles, making get in touch with lens maintenance even easier.
Another growing trend in the market for contact lens solutions, which is expected to support market growth, is the rising popularity of natural and antimicrobial contact lenses. Manufacturers are usually seeing lucrative prospects with recent launches and growing demand with regard to lenses along with antimicrobial coatings to reduce the risk of infection. It is anticipated that growing contact zoom lens usage, particularly in developing nations, will fuel overall market expansion.
Will the United States Be a Profitable Market regarding Contact Cleaning Solution Providers?
“Raising Sales associated with Contact Lens Augmenting U. S. Market Share of Contact Lens Solutions”
The United States is considered the lucrative marketplace for contact lens solutions and is definitely valued in US$ 916 million, in 2022. People of all ages are using contacts more frequently, which has led in order to an increase within demand intended for contact lens solutions in the United States.
The particular Centers to get Disease Control and Prevention estimate that 45 million individuals in the United States wear for the purpose of, with 8 percent associated with wearers under the age of 18, and 17 percent between the ages of 18 and 24 wearing contacts, as well as 75 percent associated with those over the age of 25.
Thus, this graph proves the high demand pertaining to contact lenses, which usually is subsequently increasing the particular sales of eye get in touch with solutions.
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Key Segments Covered in the Lens Solutions Industry Survey
Simply by Region:
South Asian countries & Oceania
The lens options market report identifies the important trends for contact lens solution providers as well as organic and inorganic growth tactics. Many businesses are laying focus on natural growth strategies, including product approvals, brand new launches, and others such as patents plus events. Acquisitions and alliances & agreements are examples of inorganic growth practices that are seen in this particular market.
These actions have made it possible for market participants to increase their client base and revenue. With the improving demand meant for contact zoom lens solutions inside the global market, key participants in the market are predicted to enjoy attractive growth prospects over the particular coming years.
A joint development agreement was announced by Mojo Vision plus Menicon, a Japanese contact lens maker, in December 2020. This partnership would enable both businesses in order to utilize their respective areas of expertise to carry out several feasibility studies for the creation associated with smart lens products.
The particular debut of ACUVUE OASYS with changeover light intelligent technology within the U. S. was announced by Johnson & Manley Vision in March 2019. These photo chromatic disposable lenses assist the eyes to adjust to bright lights and changeable light conditions.
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Key players in the Lens Solutions Marketplace
Key Takeaways from Contact Zoom lens Solutions Market Study
North America holds a leading position within the worldwide contact lens solutions market due to its advanced healthcare infrastructure and rising use of lenses among the particular population.
The market just for contact lens solutions can be forecast to expand as more people, particularly inside developing nations, start using contact lens.
The United States market is valued at US$ 916 mil in 2022.
Sales associated with lens options are predicted to increase with a CAGR of 3% from 2022 to 2026.
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