Dublin, Dec. 24, 2020 (GLOBE NEWSWIRE) -- The "Global Contact Lens Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.
The global contact lens market is forecasted to reach US$9.92 billion in 2024, growing at a CAGR of 7% for the period spanning 2020-2024. Factors such as increasing spending on eyewear products by population, rising prevalence of myopia, rapid urbanization, improving consumer confidence index and accelerating personal disposable income are expected to drive the market. However, the growth of the industry would be challenged by growth in LASIK surgeries and lack of proper health-care facilities. Few notable trends include technological advancement, increased consolidation of market players, increasing shift towards daily disposable lenses and rising e-commerce sales. In 2020, the outbreak of COVID-19 pandemic has created an unfavorable impact on the market as the contact lens demand has decreased rapidly.
The contact lens industry can be classified on the basis of function (corrective, cosmetic & therapeutic), material (rigid, hybrid & soft) and modality/usage frequency (1-day wear lens/daily disposable lens & frequently replaced lens/FRP)
The fastest-growing regional market is Americas owing to the rise in awareness about advanced contact lenses, growth in online sales channels and rapid surge in population personal disposable income.
Scope of the report:
- The report provides a comprehensive analysis of the global contact lens market, segmented by usage (1-Day & FRP) and material (Soft, Rigid & Hybrid).
- The major regional markets (Americas, Asia-Pacific and Europe) have been analysed, along with country coverage of the US and Japan.
- The market dynamics such as growth drivers, market trends and challenges are analysed in-depth.
- The competitive landscape of the market, along with the company profiles of leading players (Johnson & Johnson, Alcon AG, The Cooper Companies, Inc., Bausch Health Companies Inc., Hoya Corporation and ST. Shine Optical Co., Ltd.) are also presented in detail.
Key Topics Covered:
1. Market Overview
1.1 Introduction
1.2 Classification of Contact Lens
1.3 Manufacturing of Contact Lens
2. Impact of COVID-19
2.1 Overview
2.2 Decline in Contact Lens Demand
3. Global Contact Lens Market Analysis
3.1 Global Contact Lens Market Value
3.2 Global Contact Lens Market Value Forecast
3.3 Global Contact Lens Market Value by Usage
3.3.1 Global 1-Day Contact Lens Market Value
3.3.2 Global 1-Day Contact Lens Market Value Forecast
3.3.3 Global FRP Contact Lens Market Value
3.3.4 Global FRP Contact Lens Market Value Forecast
3.4 Global Contact Lens Market Value by Material
3.5 Global Soft Contact Lens Market Value
3.6 Global Soft Contact Lens Market Value Forecast
3.7 Global Soft Contact Lens Market Value by Segments
3.7.1 Global Sphere Soft Contact Lens Market Value
3.7.2 Global Sphere Soft Contact Lens Market Value Forecast
3.7.3 Global Toric Soft Contact Lens Market Value
3.7.4 Global Toric Soft Contact Lens Market Value Forecast
3.7.5 Global Multifocal Soft Contact Lens Market Value
3.7.6 Global Multifocal Soft Contact Lens Market Value Forecast
3.8 Global Contact Lens Market Value by Region
4. Regional Contact Lens Market Analysis
4.1 Americas
4.2 Asia-Pacific
4.3 Europe
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Increasing Spending on Eyewear Products by Population
5.1.2 Rising Prevalence of Myopia
5.1.3 Rapid Urbanization
5.1.4 Improving Consumer Confidence Index
5.1.5 Accelerating Personal Disposable Income
5.2 Key Trends and Developments
5.2.1 Technological Advancement
5.2.2 Increased Consolidation of Market Players
5.2.3 Increasing Shift towards Daily Disposable Lenses
5.2.4 Rising E-Commerce Sales
5.3 Challenges
5.3.1 Growth in LASIK Surgeries
5.3.2 Lack of Proper Health-Care Facilities
6. Competitive Landscape
6.1 Global Contact Lens Market
6.1.1 Key Players - Market Share Comparison
6.1.2 Key Players - Revenues Comparison
6.1.3 Key Players - Market Cap Comparison
6.1.4 Key Players - R&D Expenditures Comparison
7. Company Profiles
- Alcon AG
- Bausch Health Companies Inc.
- Hoya Corporation
- Johnson & Johnson
- ST. Shine Optical Co., Ltd.
- The Cooper Companies, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/463o64
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.