Sales of contact lens Market Forecast with Potential Impact, Despite COVID-19 Pandemic, Finds FMI 2022 - 2029

 

The global Sales of contact lens Market is set to reach US$ 12.5 Bn in terms of revenues by the end of 2029. A new Future Market Insights (FMI) study reveals that the Sales of contact lens Market will see a moderate CAGR over 2029. Soft contact lenses are the most prescribed contact lenses, while toric lens designs are significantly gaining popularity over the recent past. The latter are gaining traction attributing to their properties to correct mixed astigmatism. Moreover, these lenses are fashionable, serve various purposes owing to their anti-radiation (block UV rays) properties, and abilities to filter dim lights and work on miniature components. Demand for silicone hydrogel contact lenses is also on a constant rise, as they reduce the risk of hypoxia related eye problems.

Key Takeaways — Sales of contact lens Market

  • North America is expected to retain its dominant position in the global Sales of contact lens Market due to high adoption of contact lenses, high demand for branded products, and frequent new product launches, coupled with significant presence of prominent players in the region.
  • Soft lenses continue to be top selling, making up nearly 80% of overall sales in the Sales of contact lens Market. These lenses are widely prescribed by doctors, user-friendly, and easier to adjust as compared to hard contact lenses.
  • Increasing usage of therapeutic (drug-eluting) contact lenses for ophthalmic drug delivery is creating a massive window of opportunity in the global Global contact lenses market. These lenses would be garnering interests with their unique advantages such as extended wear and high bioavailability.

Growing prevalence of myopia among young children and elderly demographic will continue to create significant opportunities for prominent players in the contact lenses market. Daily wear soft contact lenses made of flexible plastic that enables oxygen to pass through the eyes are gathering traction in market. Besides such innovations, online sales will help manufacturers reap sizeable profits in the global market.

Smart Contact Lenses Gaining Traction

Contact lens companies have been introducing novel products in the market, attributable to R&D advancements. Smart contact lenses represent one such innovation that continues to gain popularity worldwide. These lenses do not require surgery and can be inserted or removed by users. Researchers from the Harbin Institute of Technology in China and the University of California San Diego are developing innovative biomimetic smart soft contact lenses that users can zoom in and out by simply blinking.

Contact Lenses Market: Competitive Landscape

Prominent players in the global contact lenses market are CooperVision, Inc., Johnson & Johnson Vision Care, Inc., Hoya Vision Care Company, Alcon (Division of Novartis AG), Bausch & Lomb Incorporated, BenQ Materials Corporation, ZEISS International, SEED Co. Ltd., Essilor International S.A., and Menicon Co. Ltd. These market players primarily focus on product innovation, particularly on product design.

Know More About Contact Lenses Market Report

Future Market Insights, in its new offering, provides an analysis of the global contact lenses market, presenting historical demand data (2014–2021) and forecast statistics for the period of 2022–2029. The report on the global contact lenses market reveals compelling insights on the basis of product type (soft lenses [daily wear and extended wear] and gas permeable), design type (spherical, toric, multifocal, and others), wear type (disposable and reusable), and sales channel (online [e-Commerce portal and company owned portal] and offline [exclusive stores and multiband stores]), across seven major regions.

Information Source:
https://www.futuremarketinsights.com/reports/contact-lenses-market

Comments

Post a Comment

Popular posts from this blog

Pulses Market Forecast with Potential Impact, Despite COVID-19 Pandemic, Finds FMI 2022 - 2030

Image
  Future Market Insights (FMI) has anticipated the global  pulses market   to surpass a revenue threshold of US$ 100 Bn by the end of the 2020-2030 forecast period, in its recently published report. FMI opines the market is slated to scale new heights amid heightening demand for fiber-rich and nutrient infused foodstuffs. Recent years have seen an upsurge in the availability of pulse based instant foods. Pulses are known to reduce cholesterol and triglyceride levels, thus enhancing life expectancy. After taking the COVID-19 pandemic into consideration, growth prospects for the global pulses market appear largely optimistic, with sluggishness staving off due to relaxation of lockdowns. Key Takeaways from FMI’s Pulses Market Report APEJ to represent lucrative growth opportunities, generating nearly 60% of revenue Dried beans to enjoy widespread popularity, attributed to the presence of vital micronutrients Demand for organic pulses experiencing northward shift, expanding at a CAGR exceed
Read more

Tinea Pedis Treatment Market Key Players, End User, Demand and Consumption by 2032

  The global   tinea pedis treatment market   is expected to reach   US$ 1.35 Bn   in 2022, and further expand at a CAGR rate of   5.2%   to surpass   ~US$ 2.24 Bn   by the end of 2032. In terms of disease indication, the interdigital tinea pedis treatment market is expected to lead with a share of about   68.3%  in 2022. The extensive research report titled  “ Tinea Pedis Treatment Market: Global Industry Analysis (2012–2016) and Opportunity Assessment (2017–2027) ”  crafted by Future Market Insights assists the reader in compiling and slating key growth strategies with a view to maintain correct growth rhythm in spite of the changing market dynamics in the current as well as in the future. Analysis on each segment of the market is included and assessment of these segments across key region in the globe is presented in a methodical format in the report. The research reflects the global market view in a nutshell The research report on tinea pedis treatment market covers various trends,
Read more

Glamping Market Insights, Deep Analysis of Key Vendor in the Industry 2022-2032

Image
  According to a recent report by Future Market Insights (FMI), the  glamping market  is expected to reach a valuation of  US$ 10.6 Bn  in 2032, expanding at an impressive  11.8% CAGR  over the assessment period.   ·        To Get a Sample Copy of the Report visit @    https://www.futuremarketinsights.com/reports/sample/rep-gb-14326 Increasing government-backed investments in the tourism sector across the globe is a chief factor driving the glamping market. Players in the tourism sector are offering better means to attract more tourist to outdoor locations. The uptake and integration of technologies in such locations is encouraging consumers to opt for outdoor recreational activities, thereby augmenting the growth in the market. The developments of recreational vans and other motor homes with rental services is another factor boosting the market. Individuals are spending quality time with family and friends in remote areas and with the availability of all the resources at hand, which i
Read more