Global Corrective Contact Lenses Market 2017-2021

Overview of the global corrective contact lenses market

According to the corrective contact lenses industry analysis, this market will grow steadily at a CAGR of over 7% by 2021. This market research analysis identifies the rising cases of eye disorders as one of the primary growth factors for this market. The increase in the use of digital appliances and gadgets including gaming consoles, computers, and other electronic products is a major cause leading to the rise of eye disorders among the younger population. Also, the increase in smoking and ultraviolet light exposure also increases the number of cases of eye disorders such as refractive error, cataract, and glaucoma. The increase in diabetic population is another reason for the rise in the number of eye disorders since diabetes can result in glaucoma, retinopathy, cataracts, temporary blurring of vision, or even severe, permanent loss of vision. This will, in turn, fuel the demand for corrective contact lenses, subsequently fueling market growth. 

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Contact lenses provide better all-around vision, allowing clear peripheral vision, unlike glasses where only the objects in front of the person are clearly visible. Additionally, these lenses eliminate glare and are more comfortable to wear and carry around than glasses and are popular among sportspeople and athletes as they do not distract in any way and do not slip or steam up like spectacles during a match or an event. These advantages will increase the preference among end-users towards contact lenses over glasses, which will be one of the major corrective contact lenses market trends that will gain traction it the corrective contact lenses market during the next four years.

Competitive landscape and key vendors

The corrective contact lenses market is characterized by the presence of a few vendors and is competitive. The vendors in this market compete in terms of service, quality, pricing, and product differentiation. The competitive environment of the market will further intensify with an increase in product extensions, new product launches, and new applications of integrated product offerings.

The leading vendors in the market are 

• Cooper
• Johnson & Johnson
• Novartis
• Valeant Pharmaceuticals

The other prominent vendors in the market include Carl Zeiss, Contamac, Essilor International, HOYA, Menicon, Shanghai Hydron Contact Lens Optics (Ginko International), SynergEyes, and UltraVision CLPL.

Segmentation by product type and analysis of the corrective contact lenses market

• Soft contact lenses

• Rigid gas permeable (RGP) contact lenses
• Hybrid contact lenses

Based on the corrective contact lenses industry statistics, soft contact lenses segment accounted for the major shares of the corrective contact lens market. The presence of materials such as silicone hydrogel in the soft contact lenses allows oxygen to pass through the eye cornea and enable high water retention, making them extremely comfortable for prolonged wear.

Geographical segmentation and analysis of the corrective contact lenses market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the market by 2021. The market in the region is largely driven by the rise in awareness of the uses of lenses in enhancing the aesthetic appeal and aiding in vision correction. Additionally, the expected rise in the number of middle-aged and senior consumers in this region will also boost the growth of this market during the forecast period.

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Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global corrective contact lenses market?
• What are the key market trends impacting the growth of the global corrective contact lenses market?
• What are the challenges to market growth?
• Who are the key vendors in the global corrective contact lenses market?
• What are the market opportunities and threats faced by the vendors in the global corrective contact lenses market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global corrective contact lenses market?

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