Growing number of products equipped with desirable customization driving contact lens market

Date: 8 May 2020

According to a research report published by Azoth Analytics in April 2020, the Global Contact Lens Market was valued at USD 15839.63 million during the year 2019. Global Contact 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.

Global Contact Lens Market is primarily driven by growing urbanization, promptly improving eye care services and growing refractive issues related to the eyesight among people. The prevalence of disorders such as myopia, hyperopia, astigmatism, and presbyopia, are increasing  over the past few years, due to the rising vitamin A deficiency and accident cases. 

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 and also millennials are anticipated to fuel the market growth in forecast period. The Americas region holds the largest market of Contact Lens market and is estimated that it will continue to dominate the market share in forecast period. However, it may lose its market share to APAC region which will also grow with highest growth rate among the regions.

Upsurge in the popularity of products equipped with desirable customization, various attractive shades, textures, and colours for enhancement of eye appearance will propel the industry. Companies having high investment opportunity with new edge technologies for research and development likely to gain market share in the forecast period.

The Azoth Analytics research report titled Global Contact Lens Market  has analysed and segmented the Contact Lens market By Value (USD Million). The report has analysed the market By Material (Silicone Hydrogel, Hydrogel, Hybrid, Others), By Wear Type (Daily Disposable, Disposable, Frequently Replacement, Conventional Lenses), By Design (Spherical, Toric, Multifocal & Cosmetic Lenses), By Region (Americas, Europe, APAC) and By Country (US, Canada, Mexico, UK, Germany, France, Italy, China, Japan, India, Australia, Indonesia, South Korea, Philippines,  Vietnam) for the historical period of 2015-2019 and the forecast period of 2020-2025.