What is Silicone Hydrogel Contact Lenses Market?
Silicone Hydrogel Contact Lenses are thin, plastic circular disks in nature that are directly attached to the eyeballs. It produces a huge amount of oxygen which transmits an unprecedented amount of oxygen to the cornea. These contact lenses to help consumers to improve their week eye sights as well as in changing their eyeshades. These lenses help in lessening the issues by correcting refractive lenses. Moreover, it also improves in minimizing color blindness. The rising disadvantages of contact lenses such as improper use of a contact lens might affect the eyelid, the conjunctiva, and many more can be a bit challenging, but many manufacturers are providing a good quality of contact lenses in order to overcome these issues. The rising preference of consumers not to wear glasses for their eye weakness is driving the market.
The market study is being classified by Type (Spherical Form, Toric Form and Multifocal Form), by Application (Hospital Pharmacies, Optical Shop, Online Stores and Others) and major geographies with country level break-up.
Johnson and Johnson Vision Care (United States), Novartis (Switzerland), CooperVision (United States), Bausch + Lomb (United States), St.Shine Optical (Taiwan), Menicon (Japan), NEO Vision (Korea), Clearlab (United States) and Miacare (Taiwan) are some of the key players profiled in the study.
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Silicone Hydrogel Contact Lenses market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Silicone Hydrogel Contact Lenses market by Type, Application and Region.
On the basis of geography, the market of Silicone Hydrogel 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Prevalence of Myopia
- Growing Geriatric Population across Globe
Market Trend
- Increasing Preference for Contact Lens Over Prescription Eyeglasses
- Different Color of these Lenses is Trends in the Fashion Industry
Restraints
- Issue Related Toward the Careless Usage of Silicone Hydrogel Contact Lenses, that can cause Harm EyeSight
- High Cost of these Lenses can Hamper the Market
Opportunities
- Technological Advancements in Silicone Hydrogel Contact Lenses Manufacturing
- Increasing Awareness about these Lenses in Emerging Economies
Challenges
- Lack of Skilled Ophthalmologists
For instance, in November 2018, SEED Co. Ltd. and IMEC, an international R&D hub, have together developed a contact lens that includes an ultra-thin silicon microchip, LED light, a radio-frequency antenna which would fulfill the wireless energy transfer. Furthermore, the interconnections are also made with thin stretchable films.
According to FDA and the Federal Trade Commission (FTC), before consumers buy any contact lenses from some vendors or distributors other than eye care professionals, in such cases a valid contact lens prescription should be available with the consumer. Similarly, when consumers purchases contact lenses from stores, the Internet, over the phone or by mail, then Contact Lens consumers should provide E prescriptions.
Key Target Audience
Silicone Hydrogel Contact Lenses Manufacturers, Silicone Hydrogel Contact Lenses Distributors and Traders, Ophthalmologists, Eye Care Associations, Hospitals/Clinics/Government Agencies and Others