WASHINGTON, Sept. 01, 2022 (GLOBE NEWSWIRE) — Vantage Market Research’s recent analysis of the Global Contact Lenses Marketplace finds that the surge in incidences of myopia is accelerating the expansion of the market. In addition , the particular growing senior population and launch associated with technologically advanced products are projected in order to boost the growth from the Global Disposable lenses Market during the forecast period.

The Global Contact Lens Market revenue is expected to reach a value USD ten. 9 Billion dollars in 2028.

The Global Market revenue was valued at USD 7. 6 Billion in 2021 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of six. 3% throughout the forecast time period; states Advantage Market Research, in a report, titled “ Lenses Market Size, Discuss & Trends Analysis Report by Products (Usage, Design, Material, Color Variation, Application), by Distribution Channel (Retail Stores, Hospitals & Clinics, E-Commerce), by Material Type (Silicone Hydrogel, Hydrogel, Other Materials), simply by Design Kind (Spherical, Toric, Multifocal, Some other Design Types), by Wear Type (Monthly Disposable, Daily Disposable, Yearly Disposable), by Application (Corrective, Cosmetic, Additional Applications), simply by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Worldwide Industry Assessment (2016 — 2021) & Forecast (2022 – 2028) .

Key Industry Findings & Insights from the report:

  • The global Contacts Market was highly valued USD 7. 6 Billion in 2021 and is all set to surpass UNITED STATES DOLLAR 10. 9 Billion by 2028, exhibiting a CAGR of 6. 3% during the forecast period 2022-2028.                    
  • In terms of revenue, the application segment held the largest revenue share of within 2021 plus is estimated to maintain its dominance for the forecast period.
  • In terms of revenue, the particular product segment held the second largest market share of in 2021 and it is estimated to grow rapidly throughout the forecast time period.
  • The growth can be attributed to rapid urbanization, technological advancement, an increase within investment simply by developing countries.
  • North The united states captured the lion discuss in 2021 and is projected to retain its position over the prediction period. This can be attributed in order to the existence of the significant number of Contact Lenses industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.

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Marketplace Dynamics :

Driver:

Rising Prevalence associated with Myopia to Drive the Market Growth

For the purpose of Market are utilized to correct vision defects like myopia, hyperopia, presbyopia, and astigmatism. Even with almost all their increase in occurrence worldwide, myopia is still the most common across the globe. Furthermore, the particular increase within incidences of myopia plus growing expenses on ophthalmic products such as Contact Lenses Market, as the corrective measure for refractive errors, are usually anticipated in order to propel the Disposable lenses Market growth during the forecast period. As a result, there is a high demand for Lenses Marketplace due to the particular rising cases of eye disorders like myopia among all age groups. By the year 2050, myopia and higher myopia are estimated to affect about 4, 949 million and about 925 million populations, respectively, at the global level. Besides, the particular growing product launches and developments this kind of as developing vibrant soft Contact Lens Market with superior technology are raising the adoption of Contact Lenses Market.

Increasing Geriatric Population Base to Fuel Market Expansion

Among the aged population, the instances of vision-related disorders are usually the highest Retinal loss is the particular major health worry in this populace group globally. Moreover, the growth in the elderly human population intensifies the particular occurrence associated with ophthalmic disorders, and the majority of people with vision impairment are over 50 years old. The World Health Organization states that one in six people worldwide will be 60 years or over by 2030. The reveal of people aged sixty years plus above will expand through 1 billion in 2020 to 1. 4 billion dollars. The worldwide population of people aged 60 years and older is forecasted to double by 2050. Moreover, the population associated with persons older 80 many years or older will likely triple between 2020 & 2050 to reach 426 million. As a result, the demand for Get in touch with Lenses Market is getting higher along with the rise in the particular older inhabitants.

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Segment Analysis:

  • Items
    • Usage
    • Design
    • Material
    • Color Variation
    • Application
  • Submission Channel
    • Retail Stores
    • Hospitals & Clinics
    • E-Commerce
  • Material Type
    • Silicone Hydrogel
    • Hydrogel
    • Other Materials
  • Style Type
    • Spherical
    • Toric
    • Multifocal
    • Various other Design Types
  • Wear Kind
    • Monthly Disposable
    • Every day Disposable
    • Annual Disposable
  • Application
    • Corrective
    • Cosmetic
    • Other Applications
  • Region
    • North America
    • European countries
    • Asia Pacific cycles
    • Latin America
    • Middle Eastern & Africa

The statement on For the purpose of Market highlights:

  • Evaluation of the particular market
  • High quality Insights
  • Competitive Landscape
  • Historic Data, Estimates, and Forecast
  • Company Profiles
  • Global plus Regional Dynamics

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Regional Evaluation :

North America Dominated the Global Contact Lenses Market

North America is dominating a global Get in touch with Lenses Marketplace and will certainly continue the domination throughout the prediction period. This is often attributable to various development factors such as the mounting patient population suffering from refractive errors, the particular growing focus of top market players on strategic partnerships & collaborations, an increase in item innovation, and rising awareness among the patient people toward eyesight correction treatment in the region. Along with this particular, Canada plus the United States have developed well-structured healthcare organizations, supporting research and development. Because an outcome, the growing visual inaccuracy is anticipated to propel North The united states market development.

List of Prominent Players within Contact Lenses Market:

  • Bausch & Lomb (US)
  • Alcon (Switzerland)
  • Carl Zeiss Meditec AG (Germany)
  • Johnson & Manley (US)
  • HOYA Corporation (Japan)
  • The Cooper Companies (US)
  • Seed Co. Ltd. (Japan)
  • Essilor Luxottica (France)
  • BenQ Materials Corporation (Taiwan)
  • Menicon Co. Ltd. (Japan)

Browse marketplace data Tables and Figures spread through 141 Pages and in-depth TOC on ” Contact Lenses Market Dimension, Share & Trends Analysis Report by Products (Usage, Design, Materials, Color Variance, Application), simply by Distribution Channel (Retail Shops, Hospitals & Clinics, E-Commerce), by Material Type (Silicone Hydrogel, Hydrogel, Other Materials), by Design Type (Spherical, Toric, Multifocal, Other Style Types), by Wear Type (Monthly Disposable, Daily Throw away, Yearly Disposable), by Software (Corrective, Cosmetic, Other Applications), by Area (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) : Global Business Assessment (2016 – 2021) & Prediction (2022 – 2028) “.

Recent Developments:

June 2022 : Bausch + Lomb, a global eye wellness company that will manufactures health care products, announced the U. S. launch of Revive™ custom smooth Contact Lens Market, which is a new addition to its customizable gentle Contact Lenses Market offered in spherical, multifocal, toric, and multifocal toric options. In inclusion, this lens is designed to meet the vision needs associated with more patients, including those with high or unique prescriptions.

April 2022: Alcon, a worldwide medical company specializing in vision care products, introduced the Precision, a disposable Disposable lenses Market for Astigmatism in Canada. The daily disposable silicone hydrogel (SiHy) Lenses Market is made for astigmatic patients, aiming to help people see well.

Key Questions Answered in The Report:

  • Which area will show the fastest and greatest growth in the near future?
  • Which are the top five players and their weakness and strength of the Marketplace?
  • What will become the future innovation within the upcoming 6 years?
  • Which application plus product may lead the largest share from the Market?
  • What are the growth drivers, restraints and challenges of the industry?
  • What is going to be the particular CAGR plus size of the Contacts Market for that base 12 months and forecast period?                        

This market titled “ Contact Lenses Market ” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Styles, and various others as mentioned below:

Parameter Details
Market Size Provided for Years 2016-2028
Foundation Year 2021
Historic Years 2016-2020
Prediction Years 2022-2028
Segments Covered • Products

  °  Utilization

  °  Design

  °  Materials

  °  Color Variant

  °  Application

•  Distribution Route

  °  Retail Stores

  °  Hospitals & Clinics

  °  Web commerce

•  Material Type

  °  Silicon Hydrogel

  °  Hydrogel

  °  Many other materials

•  Design Kind

  °  Spherical

  °  Toric

  °  Multifocal

  °  Some other Design Sorts

•  Put on Type

  °  Month-to-month Disposable

  °  Everyday Disposable

  °  Yearly Disposable

•  Application

  °  Further

  °  Cosmetic

  °  Additional Applications

•  Region

  °  Northern America

  °  Europe

  °  Asia Pacific

  °  Latin The united states

  °  Middle East & The african continent

Region & Counties Covered •  North America

  °  Oughout. S.

  °  North america

  °  Mexico

•  Europe

  °  U. K

  °  France

  °  Germany

  °  Italy

  °  Spain

  °  Rest Of European countries

•  Asian countries Pacific

  °  China

  °  Japan

  °  India

  °  South Korea

  °  South Eastern Asia

  °  Rest Of Asia Pacific cycles

•  Latina America

  °  Brazil

  °  Argentina

  °  Associated with Latin The united states

•  Center East & Africa

  °  GCC countries

  °  South Africa

  ° Rest Of Middle East & Africa

Companies Covered •  Bausch & Lomb (US)

•  Alcon (Switzerland)

•  Carl Zeiss Meditec AG (Germany)

•  Johnson & Manley (US)

•  HOYA Company (Japan)

•  The Cooper Companies (US)

•  Seed Co. Limited. (Japan)

•  Essilor Luxottica (France)

•  BenQ Materials Corporation (Taiwan)

•  Menicon Co. Ltd. (Japan)

Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain evaluation, regulatory landscape, technology scenery, patent analysis, market attractiveness analysis simply by segments and The united states, organization business evaluation, and COVID-19 impact analysis

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