Contact Lens Market Statistics 2020-2025: Share Forecasts, Trends & Growth drivers
Category: #business  By Partha Ray  Date: 2020-07-03
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Contact Lens Market Statistics 2020-2025: Share Forecasts, Trends & Growth drivers

As per the report titled ‘Global Contact Lens Market – Analysis By Material, Wear Type, Design, By Region, By Country (2020 Edition): Market Insight, COVID-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report LLC, global contact lens market was valued at USD 15.8 billion in the year 2019, and is anticipated to record remunerative growth over 2020-2025.

Escalating diabetic cases, increasing geriatric population, and constant R&D by marketeers are expected to enhance the remuneration for global contact lens market. Additionally, sedentary way of life, increasing pervasiveness of ophthalmic diseases, and continuous use of digital flat screens that may damage the eyes are slated to add significant traction to the market growth. Furthermore, growing investments, technical enhancements, coupled with burgeoning demand for healthcare products is slated to propel the market growth. However, global contact lens market is expected to witness a major downfall owing to the outbreak of COVID-19, which has resulted in imposition of lockdown in various countries, curbing the movement of non-essential goods.

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Based on material type, the silicone hydrogel segment is slated to dominate the market owing to its ability to enhance oxygen permeability, which makes them perfect for customized contact lenses.

Based on regional landscape, America is expected to hold the majority fragment of the market owing to high prevalence of astigmatism coupled with rising healthcare awareness. Also, countries such as India, Indonesia, Vietnam, and Brazil are anticipated to offer substantial growth as they offer abundant opportunities for companies to expand their business.

Major companies operating in global contact lens market are SynergEyes Inc., Johnson & Johnson, Bausch Health, Cooper Companies Inc., Alcon, HOYA CORPORATION, SEED Co. Ltd., Carl Zeiss AG, and EssilorLuxottica S.A. among others.

Questions & Answers: Global Contact Lens Market

Q1: What are the key drivers that influence the growth of global contact lens market in America?

ANSWER: High prevalence of astigmatism and rising healthcare awareness are influencing the growth of global contact lens market in America.

Q2: Why is silicone hydrogel segment a leading contributor to the growth of global contact lens market?

ANSWER: Silicone hydrogel segment is slated to witness constant expansion in the coming years as it enhances the oxygen permeability, making it perfect for customized contact lens.

Q3: Which companies formulate the competitive terrain of global contact lens market?

ANSWER: SynergEyes Inc., Johnson & Johnson, Bausch Health, Cooper Companies Inc., Alcon, HOYA CORPORATION, SEED Co. Ltd., and Carl Zeiss AG formulate the competitive terrain of global contact lens market.

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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