Contact Lenses Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Jul 2021
  • Pages: 120
  • SKU: IRTNTR40679
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 Contact Lenses Market - 2021-2025

The projected valuation of the contact lenses market by 2025 is USD 3.92 billion. The growth momentum of the market is expected to accelerate at a CAGR of 5.16%, during 2021-2025. This research report elucidates the market drivers and trends that has been catalyzing the progress of existing market players. One of the key factors driving the contact lenses market growth is the rising adoption of daily disposable contact lenses. View our sample report for insights on the latest drivers, trends, and challenges that will have a far-reaching effect on the market growth in the coming years.

Contact Lenses Market Size

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Contact Lenses Market Segments

Every aspect of business improvement planning depends on the understanding of current and potential target customers across segmentations. Our contact lenses market analysis report extensively covers product (soft lenses, rigid gas permeable lenses, and hybrid lenses) and geography (North America, Europe, APAC, MEA, and South America), wherein you will obtain insights on qualitative and quantitative data that can help in optimizing financial results. Get actionable insights on the contact lenses market segments to recognize and seize financial opportunities

Furthermore, given the current pandemic situation and its significant effect on industries, it is essential to understand the vulnerable market segments and recovery scope. Our market research experts have evaluated the impact of COVID-19 across market segments for our clients to understand the long-term business implications and foresee opportunities to strengthen market foothold. Want a thorough qualitative and quantitative analysis on the post-pandemic contact lenses market predictions on demand changes for 2021-2025? You can buy the report now with one easy click.

Contact Lenses Market Vendors and Competitive Analysis

The contact lenses market is fragmented and the vendors are deploying growth strategies such as expanding their product portfolios to gain competitive advantage. Find out about other well-thought-out business planning approaches of key players from our sample report.

The unprecedented outbreak of COVID-19 last year impacted market segments that has had a ripple effect on various stakeholders. To make the most of the opportunities and recover from post COVID-19 impact, the market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Click here to get COVID-19 impact update.

For detailed insights on complete key vendor profiles buy the full contact lenses market forecast report. The profiles include particulars on the production, sustainability, prospects of the leading companies, and other crucial vendor landscape analysis.

Contact Lenses Market Vendors

Contact Lenses Market - Region Opportunities 2021-2025

39% of the contact lenses market growth will originate from North America during the forecast period. The US is a key market for contact lenses in North America. To unlock exclusive information on potential business locations and understand the demographics of current and prospective customers buy the report now!

Contact Lenses Market Share by Geography

North America has been exhibiting significant growth rate for contact lenses market vendors. Factors such as the continuous product launches and increasing vision-related impairments are accelerating the contact lenses market growth in North America. To view our in-depth analytical review on the micro and macroeconomic factors impacting businesses in the regions click here.

The contact lenses market share growth in North America will be faster than the growth of the market in Europe, MEA, and South America. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

Contact Lenses Market Insights by Product

Contact Lenses Market Share by Product

To gain further insights on the market contribution of various segments Request for a FREE Sample!

According to our market segmentation data analysis, the soft lenses segment is expected to be a significant contributor to the growth of the contact lenses market share during the forecast period. The demand for soft lenses is expected to grow at a steady rate during the forecast period, owing to features such as greater comfort and flexibility compared with rigid gas permeable (RGP) lenses. They are also less susceptible to the intrusion of foreign objects under the lens, such as dust, and have less sensitivity to light than the hard or RGP lenses. This report provides an accurate prediction of the revenue share of all the segments to the growth of the contact lenses market size.

From the contact lenses market segmentation insights, players can identify the demand pattern of target customers and make effective business plans to capture untapped segments. In addition, the analytical data on the segmentations will enable effective product and service positioning among the right end-users, which will facilitate significant exposure and growth for the vendors. Get updated actionable market insights on post COVID-19 impact on each segment.

Contact Lenses Market Drivers & Trends

Even if the success rate of a business is higher, every factor, including challenges, influencing any market growth needs to be considered to mitigate potential risks at an earlier development stage. One of the key factors impeding the contact lenses market growth is stringent regulations. Purchase our express report to get exhaustive insights on the key industry trends, drivers, and challenges, which will help companies evaluate and build growth strategies.

The rising adoption of daily disposable contact lenses will be a significant factor in driving the growth of the contact lenses market. The use of contact lenses for prolonged periods may lead to the formation of deposits of proteins, calcium and lipids found naturally in tears, thereby making the lenses uncomfortable to wear and increasing the risk of eye infection. Hence, eye care professionals (ECPs) are increasingly recommending daily disposable contact lenses that are single-use and removed and discarded after using for a day, especially to patients who are prone to allergies. Daily disposable contact lenses are sustainable and convenient to use, as they do not have any maintenance, storage, and cleaning needs. These types of contact lenses are also known to have a lower rate of corneal infiltrative events than reusable lenses. The rising demand for daily disposable lenses will encourage vendors to launch new products and consequently fuel the growth of the contact lenses market.  

Significant research and development activities have enabled the development of advanced products such as telescopic contact lenses, brightness/light controlling lenses, 3D-printed contact lenses, augmented reality contact lenses, health and glucose monitoring lenses, and other custom lenses. The innovative design of KeraSoft IC, a silicone hydrogel lens, provides comfort and significant visual acuity to people with keratoconus and other irregular corneas. ZEISS International uses its proprietary PhotoFusion technology to add various colors to its self-tinting lenses. Several vendors are offering smart contact lenses with added functionality. Hence, the increasing adoption of advanced technologies, which is one of the critical contact lenses market trends, will positively influence the growth of the market throughout the next five years.

Technavio research analysts have done in-depth analysis of the contact lenses market trends, drivers, and challenges in terms of their long-term and short-term effects. This data will help players map their growth prospects across key and emerging markets.

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Contact Lenses Market Report Outlook

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive contact lenses market growth during the next five years
  • Precise estimation of the contact lenses market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the contact lenses market across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of contact lenses market vendors

Buy the Contact Lenses Market report now to reimage your business strategies!

 

Contact Lenses Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5%

Market growth 2021-2025

$ 3.92 billion

Market structure

Fragmented

YoY growth (%)

4.65

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 39%

Key consumer countries

US, UK, Germany, China, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Advanced Vision Technologies Ltd., Bausch Health Companies Inc., BenQ Materials Corp., Carl Zeiss AG, Contamac Ltd., HOYA Group, Johnson and Johnson Inc., Menicon Co. Ltd., SEED Co. Ltd., and The Cooper Companies Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The contact lenses market growth will increase by $3918.87 million during 2020-2025.
The contact lenses market is expected to grow at a CAGR of 5.16% during 2020-2025.
Technavio has segmented the contact lenses market by product (Soft lenses, Rigid gas permeable lenses, and Hybrid lenses) and geographic (North America, Europe, APAC, MEA, and South America).
Advanced Vision Technologies Ltd., Bausch Health Companies Inc., BenQ Materials Corp., Carl Zeiss AG, Contamac Ltd., HOYA Group, Johnson and Johnson Inc., Menicon Co. Ltd., SEED Co. Ltd., The Cooper Companies Inc. are a few of the key vendors in the contact lenses market.
North America will register the highest growth rate of 38.52% among the other regions. Therefore, the contact lenses market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the contact lenses market growth are:
  • Growing prevalence of myopia
The contact lenses market vendors should focus on grabbing business opportunities from the soft lenses segment as it accounted for the largest market share in the base year.
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