Market Research on Contact Lenses Technologies Market 2016 and Analysis to 2024

The global contact lenses market is expected to witness a remarkable growth in the forecast period on account of various factors contributing to its growth such as flexibility, continued innovations, and greater comfort. The development of soft lenses is expected to create a heightened demand for these lenses, thus boosting the market. Soft lenses, owing to their advantages such as negating the need for cleaning and use of care solutions. They also allow more oxygen to pass through the cornea and thus, used for the correction of ametropia.

The overall contact lenses technology market is anticipated to be driven by growing geriatric population and the increasing preference for using contact lenses over corrective glasses. Contact lenses offer enhanced overall vision and clear peripheral vision as opposed to corrective spectacles. Contact lenses are witnessing high demand as they eliminate glare and are comfortable to be worn in any weather conditions and while participating in any outdoor activities and games. It is expected that the development of progressive lenses will create new opportunities of growth in the market.

The report offers an unbiased overview of the global contact lenses technology market by giving details such as prominent trends in the industry and challenging factors, restricting manufacturers in the market. The report is a comprehensive analysis of key driving factors as well as those trends in the industry, which are expected to shape up this market in the coming years.

The global contact lens market is witnessing a growing trend of natural eye highlights as consumers falling in the young age group desire to change their eye colors frequently, making use of colored and decorative contact lenses. In order to cater to the demands of these young consumers, players in the global contact lenses technology market have started creating solutions that combine eye highlights and color blends with corrective lens technology.

However, the use of these products may expose consumers to several risks such as eye infections and corneal ulcers. Dry eyes are one of the problems that can cause high level of discomfort to users. In addition to this, poor fit can also cause problems for users, thus discouraging them from using contact lenses. However, all these problems can be solved by making use of proper guidelines and conforming to replacement schedules strictly, which is expected to offer significant ease in making use of contact lenses technology.

By geography, the market is led by North America owing to a high demand for disposable lenses for daily use and also because of high penetration of contact lenses in this region. The region that is expected to witness expansion at a remarkable CAGR is most likely to be Asia Pacific owing to a higher awareness regarding vision rectification. Moreover, countries such as China and Japan are witnessing high adoption of contact lenses, thus boosting the Asia Pacific market.

By type of contact lenses, the market is segmented into hybrid lenses, soft contact lenses, and rigid gas permeable (RGP) contact lenses. While RGP lenses offer high durability and crisper vision, soft lenses ensure sufficient oxygen supply to the cornea.

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The report profiles key players operating in the global contact lenses technologies market. Some of them are: Bausch & Lomb, Abbott Medical Optics, Inc., Essilor, Johnson & Johnson, Hydrogel Vision Corp., Carl Zeiss AG, Nidek Co., Ltd., Synergeyes, Wesley Jessen Visioncare, Inc., Ciba Vision, Star Surgical Co., GKB RX Lens Private, Ltd., Eagle Optics Pvt., Ltd., and All Pro Intraocular Lens Co., Ltd.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services.