Global Contact Lenses Market - Growth, Trends and Forecasts 2017 - 2022

  • ID: 4388580
  • Report
  • Region: Global
  • 211 pages
  • Mordor Intelligence
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The global contact lenses market accounted for USD XX billion in 2015 and is expected to reach USD XX billion in 2016 and USD XX billion by 2021, growing at a CAGR of X% during the forecast period. Contact lenses not only serve the need to alleviate the use of hard to manage and bulky spectacles, but also provide the added benefit of enhancing one’s aesthetic appeal. The increasing innovations in the production of contact lenses during the last decade, has led to the use of various materials for producing these lenses, which serve multiple purposes. Contact lenses are also used to treat common eye disorders such as myopic, hypermetropia, presbyopia, astigmatism, and glaucoma.

Drivers & Restraints:

With a rise in the aging population, as estimated for the forecast period, and more people avoiding the use of corrective spectacles and switching to lenses, the market is projected for a continuous growth. The increasing tendency of people, especially today’s youth, to enhance their aesthetic appearance is driving the growth of cosmetic contact lenses market. The current prevalence of optical disorders is rising to new levels, hence the need for therapeutic and corrective contact lenses is also increasing, which is driving the market for such products. Improving economy and increasing disposable incomes across the world is another reason for the market to grow at a fast pace. The market, however, is facing hindrance due to the increasing acceptance of ophthalmology devices and corrective procedures like LASIK and Photorefractive Keratectomy (PRK). Use of contact lenses causes pore risks, such as eye infections and corneal ulcers and also leads to complications such as poor fitting and dryness of eyes, thus demotivating people to continue using them. This is another major hindrance for the market.

Global Contact Lenses Market Segmentation:

Global contact lenses market is segmented by -

Type of product:

Rigid Gas Permeable Contact Lenses

Soft Contact Lenses

Hybrid Contact Lenses

Usage:

Corrective Contact Lenses

Therapeutic Contact Lenses

Cosmetic Contact Lenses

Prosthetic Contact Lenses

Lifestyle-Oriented Contact Lenses

Design of the lenses:

Spherical

Toric

Multifocal

Others

Geography:

North America

Europe

Asia-Pacific

The Middle East and Africa

Latin America

In the type of contact lenses segment, soft contact lenses hold a major share, which accounts for more than three-fourth of the total market share. Soft contact lenses are further classified depending on how frequent a user needs to replace them, say, daily, weekly, monthly, annually, or not that frequently. Some users might need many unplanned replacements, which further drives the market. By usage, corrective lenses have captured almost half the contact lenses market. Segmentation by the design of lenses is dominated by spherical lenses and more than half the users prefer or are prescribed spherical contact lenses. The primary use of such lenses is to correct vision disorders like myopia and hypermetropia. Presbyopia and other vision disorders, related to advancing age, are generally treated by using multifocal lenses.

The North American market for contact lenses currently holds the largest share of the global market. However, the Asia-Pacific market is expected to grow at the fastest rate due to increasing awareness among people from growing economies in the same region.

Key Players in the Study:

Some of the largest market players in the contact lenses market are

Key Deliverables:

Market analysis for the global contact lenses, with region specific assessments and competition analysis.

Market definition along with the identification of key drivers, restraints opportunities and challenges.

Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.

Extensively researched competitive landscape section with company profiles of key players with the analysis of their current strategic interests and key financial information.

Identification and analysis of the macro and micro factors that affect the global contact lenses market.

Insights of the market in the regions that have the highest potential for growth and also identify the markets that are still untapped.
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1. INTRODUCTION
1.1 Study Deliveratives
1.2 Market Definition
1.3 Review and Forecast Period Years
1.4 General Study Assumptions
1.5 Report Description
2. RESEARCH METHODOLOGY
2.1 Introduction
2.2 Analysis Methodology
2.3 Study Timeline
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering & Econometric Model
2.4.4 Expert Validation
3. EXECUTIVE SUMMARY
4. KEY INFERENCES
5. MARKET OVERVIEW AND INDUSTRY TRENDS
5.1 Current Market Scenario
5.2 Porters Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Buyers
5.2.3 Degree of Competition
5.2.4 Threat of Substitution
5.2.5 Threat of New Entrants
6. DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES ANALYSIS (DROC)
6.1 Market Drivers
6.1.1 Rising Aging Population
6.1.2 Increasing Prevalence of Optical Disorders
6.1.3 Increasing Tendency to Enhance One's Aesthetics
6.1.4 Developing Economies and Increasing Disposable Incomes
6.2 Market Restraints
6.2.1 Growing Acceptance of LASIK and PRK
6.2.2 Associated Risks and Complications with Their Usage
6.3 Market Opportunities
6.3.1 Cosmetic Lenses in Japan and other Asian Markets
6.4 Key Challenges
6.4.1 Infections and Corneal Ulcers Hindering Adoption
7. GLOBAL CONTACT LENSES MARKET -SEGMENTATION
7.1 By Product Type
7.1.1 Rigid Gas Permeable Contact Lenses
7.1.2 Soft Contact Lenses
7.1.3 Hybrid Contact Lenses
7.1.4 Others
7.2 By Usage
7.2.1 Corrective Contact Lenses
7.2.2 Therapeutic Contact Lenses
7.2.3 Cosmetic Contact Lenses
7.2.4 Prosthetic Contact Lenses
7.2.5 Lifestyle-Oriented Contact Lenses
7.2.6 Others
7.3 By Design
7.3.1 Spherical
7.3.2 Toric
7.3.3 Multifocal
7.3.4 Others
8. Global Contact Lenses market, by Geography - Regional shares and forecast
8.1 North America
8.1.1 United States
8.1.2 Canada
8.1.3 Mexico
8.2 Europe
8.2.1 Germany
8.2.2 UK
8.2.3 France
8.2.4 Italy
8.2.5 Spain & Portugal
8.2.6 Scandinavia
8.2.7 Benelux
8.2.8 Rest of Europe
8.3 Asia-Pacific
8.3.1 China
8.3.2 Japan
8.3.3 India
8.3.4 Australia & New Zealand
8.3.5 South Korea
8.3.6 Rest of Asia-Pacific
8.4 The Middle East and Africa
8.4.1 GCC
8.4.2 South Africa
8.4.3 Rest of the Middle East and Africa
8.5 Latin America
8.5.1 Brazil
8.5.2 Argentina
8.5.3 Rest of Latin America
9. Competitive Landscape
9.1 Mergers and Acquisitions Analysis
9.2 New Product Launches
9.3 Agreements, Collaborations & Partnerships
10. Company Profiles
10.1 Abbott Medical Optics
10.2 Alcon Laboratories
10.3 Bausch & Lomb
10.4 Carl Zeiss
10.5 CIBA Vision
10.6 Contamac
10.7 CooperVision
10.8 Eagle Optics
10.9 Essilor International
10.10 Hoya Corp
10.11 Hydrogel Vision
10.12 Johnson & Johnson
10.13 Medennium
10.14 STAAR Surgical Company
10.15 SynergEyes
10.16 Others
11. Analyst Outlook for Investment Opportunities
12. Future Outlook of the Market
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