Contact Lenses Market Scope
Contact Lenses are thin, plastic circular disks directly attached to the eyeballs. The contact lenses help consumers in improving their damaged eye sights as well as in changing the eye shades. The contact lenses are termed as medical devices. These lenses nullifies the vision issues by correcting refractive lenses. It also helps in minimizing color blindness. There are several disadvantages of contact lenses such as improper use of a contact lens might affect the eyelid, the conjunctiva, and, most of all, the whole structure of the cornea. Poor lens care may lead to infections by various microorganisms including bacteria, fungi, and others.
According to AMA, the Global Contact Lenses market is expected to see growth rate of 6.9% Research Analyst at AMA estimates that Asian Players will contribute to the maximum growth of Global Contact Lenses market throughout the predicted period.
Johnson & Johnson Vision Care (United States), Novartis (Switzerland), CooperVision (United States), Bausch + Lomb (United States), St.Shine Optical (Taiwan), Menicon (Japan), Hydron International Co., Ltd. (China), Weicon (Germany), Bescon (Korea) and NEO Vision (Korea) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Clearlab SG Pte. Ltd. (Singapore), Oculus (United States), Camax (Taiwan), SEED Co. Ltd. (Japan) and Hoya Corporation (Japan).
Segmentation Overview
The study have segmented the market of Global Contact Lenses market by Type (Rigid Contact Lenses, Soft Contact Lenses and Hybrid Contact Lenses), by Application (Corrective Lenses, Therapeutic Lenses and Cosmetic Lenses and Lifestyle-Oriented Lenses) and Region with country level break-up.
On the basis of geography, the market of Contact Lenses has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Increasing Safety Measures and Usage in all the Age Group and Growing Trends in the Fashion Industry
Market Growth Drivers:
Growing Number of Ophthalmic Patients, Increasing Adoption of Contact Lenses across the Globe and Comparatively Comfortable than Wearing Glasses
Challenges:
Requires Skilled Workforce and Expensive Raw Material Prices
Restraints:
Careless Usage can Harm Eye Sights and Lack of Well Equipped Practitioners
Opportunities:
Technological Advancements in Contact Lens Manufacturing and Increasing Awareness about the Contact Lenses in Emerging Economies
On November 12, 2018, “The Singapore National Eye Centre (SNEC), the Singapore Eye Research Institute (SERI) and Johnson & Johnson Vision has announced a USD 26.35 million research collaboration to tackle myopia, or nearsighted vision, the largest threat to eye health this century. By 2050, half of the world’s population are projected to be myopic, with one billion expected to have high myopia, a severe state of the condition that can lead to retinal disease with an increased risk of blindness.”
According to FDA and the Federal Trade Commission (FTC), before consumers buy any contact lenses from some vendor or distributors other than eye care professional, in such cases a valid contact lens prescription should be available with the consumer. Similarly, when consumer purchases contact lenses from stores, the Internet, over the phone or by mail, then Contact Lens consumer should provide E prescriptions.
Key Target Audience
Contact Lens Manufacturers, Contact Lens Distributors and Traders, Ophthalmologists, Eye Care Associations, Hospitals/Clinics/Government Agencies and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.