What is Daily Disposable Contact Lens?
Daily disposable contact lenses are single time use lenses that are removed and thrown away at the end of each day. The next morning a new pair of lenses is applied to the eyes. Daily contact lenses are becoming increasingly popular with practitioners and consumers because of their health and practical benefits. Daily disposables have been repeatedly shown to reduce the risk of microbial keratitis and sensitivity inflammation compared to monthly lenses. Daily disposables eliminate the need to handle and disinfect lenses. Approximately 99% of CL users incorrectly care for their lenses, which increases the risk of adverse events. Material deterioration and dissolution sensitivity, both factors that contribute to lens discomfort, are eliminated when a daily disposable is used in place of a monthly disposable. The advantages of daily disposable contact lenses far outweigh the disadvantages. The main concern of most patients is that the difference between regular monthly magazines and the cheapest daily disposable lens is only USD 25 per year. For general eye health and safety, it is recommended that you try daily disposables.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Johnson and Johnson Vision (United States), Novartis (Switzerland), CooperVision (United States), Bausch + Lomb (United States), St.Shine Optical (Taiwan), Menicon (Japan), Norsk Hydron (Norway), Weicon (Germany), Beacon Eye Care (United States), NEO Vision (United States), G & G Contact Lens (South Korea), GEO Gr (United States) and CLB Vision (Singapore) |
The study covers a detailed analysis segmented by key business segments i.e. by type (Hybrid Contact Lenses and Soft Contact Lenses) , by application (Men and Women) and major geographies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Daily Disposable Contact Lens market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Daily Disposable Contact Lens market report suggests strategies that Vendors can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Vendors, some of them are Johnson and Johnson Vision (United States), Novartis (Switzerland), CooperVision (United States), Bausch + Lomb (United States), St.Shine Optical (Taiwan), Menicon (Japan), Norsk Hydron (Norway), Weicon (Germany), Beacon Eye Care (United States), NEO Vision (United States), G & G Contact Lens (South Korea), GEO Gr (United States) and CLB Vision (Singapore).
Market Overview:
In March 2022, Bausch + Lomb, a leading provider of eye health care products launched silicone hydrogel daily disposable contact lenses, ULTRA ONE DAY. The contact lens features next-generation material kalifilcon A and Advanced MoistureSeal Technology that offers a highly wettable surface and excellent breathability for long-lasting.
All the daily disposable contact lenses, which also include the prescription contact lenses as well as cosmetic contact lenses have to be hereby prescribed as mandated by the United States Food and Drug Administrative (FDA). This rule had come into effect owing to some of the common complications like infection and inflammation that might further lead to vision loss or blindness.
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations.
Influencing Trend:
The Rising Trend of Manufacturers to Focus Towards Developing Daily Disposable Contact Lenses So As to Suit the Digital Driven Lifestyles of Individuals, Increasing Safety Measures and Usage in all the Age Group and Increasing Awareness in Emerging Economies
Market Growth Drivers:
Growing Number of Ophthalmic Patients, Increasing Occurrence of Astigmatism, Hyperopia, and Myopia, Comparatively Comfortable than Wearing Glasses and Growing Eye Care Centers and Awareness About Its Importance
Challenges:
Expensive Raw Material Prices and Availability of Alternatives Eye Care Methods
Restraints:
Adverse Effects Associated with Its Use such as Dryness, Red-eyes, and Eye-infections and Lack of Well Equipped Practitioners
Opportunities:
Growing Uses of Daily Disposable Contact Lenses in Entertainment and Media Industry, Technological Advancements in Daily Disposable Contact Lenses Manufacturing and Increase in Online Sales of Daily Disposable Contact Lenses and Eye Care Products
Key highlights of the Global Daily Disposable Contact Lens market Study:
CAGR of the market during the forecast period 2022-2028
In-depth information on growth factors that will accelerate the Daily Disposable Contact Lens market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Daily Disposable Contact Lens market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Vendors
Comprehensive information about factors that will challenge the growth of Daily Disposable Contact Lens Vendors
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Daily Disposable Contact Lens market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Daily Disposable Contact Lens market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Daily Disposable Contact Lens Providers, Raw Material Suppliers, Government Regulatory and Research Organizations and End-User.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.