Convenience coupled with fashion consciousness among millennials facilitating growth of daily disposable (DD) lens market

Date: 1 February 2020

According to a research report published by Azoth Analytics in January 2020, the Global DD Lens Market was valued at USD 4917.7 million in the year 2019. Global DD Lens market is expected to grow due to a number of factors that include growing geriatric population across the globe, increasing awareness coupled with the rising demand for healthcare products are the major factors impelling the market growth.

Global DD Lens Market is primarily driven by growing urbanization, promptly improving eye care services, the growth across all sectors of the contact lens industry coupled with the ongoing demographic shift towards ageing population. These are crucial factors in surging growth of global DD Lens market. Amongst geriatric population, prevalence of astigmatism, myopia, diabetes will propel the market.

Factors such as geriatric population is increasing rapidly in some countries with market players investing heavily in those countries and try to capture the major share. Millennials are anticipated to fuel the market growth in forecast period. The North America region holds the largest market of DD Lens market and is estimated that it will continue to dominate the market share in forecast period. However, North America may lose its market share to APAC region which is expected to grow with highest growth rate among the regions.

There is rising demand for contact lenses that can augment or change natural eye colour, particularly for millennials and consumers in Asia. Shifting consumer trends towards fashion consciousness among millennials owing to the maintaining of social status will fuel the overall business expansion. Companies having high investment opportunity with the new edge technologies for research and development will likely to gain market share in the forecast period.

The Azoth Analytics research report titled Global Daily Disposable (DD) Lens Market (2020Edition) - Market Insight, Competition and Forecast (2020-2025) has analysed and segmented the DD Lens market By Value (USD Million). The report has also further analysed By Material (Silicone Hydrogel, Hydrogel, Hybrid & Others); By User Preference (Ultra-Premium, Mainstream & Low Value/Discount Users); By Design (Spherical, Toric, Multifocal & Cosmetic Lenses), By Region (North America, Europe & APAC) and By Country (US, Canada, UK, Germany & Japan) for the historical period of 2015-2019 and the forecast period of 2020-2025.