Contact lenses market

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Contact Lenses MarketSet to Exceed USD USD 18.9
billion by 2026 CAGR 5.8

• Contact Lenses Market By Product Type (Soft
  Lens, Hybrid Lens, Rigid Gas Permeable (RGP)
  Lens) By Design Type (Toric, Spherical,
  Multifocal, Others) By Usage (Corrective,
  Therapeutic, Cosmetic/Lifestyle, Prosthetic) By
  Regions Market Size Forecast, 2018 2026

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Contact Lenses Market Estimate Forecast to 2026
According to a new study published by Polaris
Market Research the global contact lenses market
is anticipated to reach USD 18.9 billion by
2026. Once of the key factor driving the contact
lenses market is to enhance aesthetic appearance
by using them as fashion accessory particularly,
by the youth population. Also, constant
development in technology of product materials
and given a boost to colored or decorative
contact lenses, which is further anticipated to
influence the demand. Moreover, the rising
incidences of visual imparities such as myopia,
presbyopia, hyperopia and astigmatism is
propelling the market growth. The World Health
Organization, in 2015, estimated that
approximately 1.9 billion people across the globe
have been affected by myopia and the number is
anticipated to be more than 2 billion by 2020.
Thus, the demand for contact lenses during the
forecast period will experience a growth. The
contact lenses manufacturers and vendors are
appealed by the high profit margins offered by
the contact lenses thus, boosting its
manufacturing as well as enhancing the network of
distribution. Also, advancements in technology in
form of material will provide new opportunities
to the manufacturers with time. By type segment,
the Rigid Gas Permeable (RGP) Lenses was valued
over USD 800 million in 2017 owing to factors
including, sharp vision, high oxygen
permeability, cost-effectiveness in the long run,
and durability. .
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Contact Lenses Market Scope
By Product Type By Design Type By Usage Type By Region Report Attributes
Rigid Gas Permeable Lens Hybrid Lens Soft Lens Spherical Lenses Toric Lenses Multifocal Lenses Others Corrective Lens Therapeutic Lens Cosmetic Lens Prosthetic Lens Lifestyle-oriented Lens North America Europe Asia Pacific Latin America Middle East Africa Historic year 2015-2016 Base year 2017 Forecast Year 2018-2026 Revenue ((USD Million)
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Contact Lenses Market Estimate Forecast to 2026
The contact lenses market by usage type is
segmented into Corrective, Therapeutic, Cosmetic,
Prosthetic, and Lifestyle-oriented. The
corrective lenses usage segment is currently
growing at a CAGR of more than 6.2. The demand
is attributed to its various applications.
Whereas, cosmetic lenses segment is expected to
witness high growth during the forecast period.
On the basis of design, the hybrid lens segment
is anticipated to experience a noteworthy growth
as it is a combination of both soft lenses and
rigid gas permeable lenses. Thus, it provides
comfort of soft lenses coupled with the visual
clarity offered by rigid gas permeable lenses.
The growth of hybrid lenses segment is expected
to propel with the increased demand from people
with keratoconus and astigmatism
conditions.  The key strategies adopted by the
market players include long-term partnerships
among the other players in supply chain
particularly, distributors and suppliers with an
aim to increase their geographical footprint. For
instance, in 2016, Vision Direct Group Ltd. was
acquired by Essilor International S.A. for the
enhancement of its online retailing business
presence. Major industry players include Alcon
Laboratories, Inc., Abbott Medical Optics, Inc.,
Bausch Lomb, Incorporated, Carl Zeiss AG,
CooperVision, Inc., Contamac U.S., Inc., Hoya
Corporation, Essilor International S.A.,
Medennium and Johnson Johnson Vision Care, Inc.
among others.


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Contact Lenses Market Size
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