Dublin, March 23, 2023 (GLOBE NEWSWIRE) -- The "Contact Lenses: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Contact Lenses estimated at US$13.1 Billion in the year 2022, is projected to reach a revised size of US$20.1 Billion by 2030, growing at a CAGR of 5.5% over the analysis period 2022-2030.
Silicone Hydrogel, one of the segments analyzed in the report, is projected to record 5.7% CAGR and reach US$14.2 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Other Materials segment is readjusted to a revised 5.2% CAGR for the next 8-year period.
The U.S. Market is Estimated at $3.6 Billion, While China is Forecast to Grow at 8.5% CAGR
The Contact Lenses market in the U.S. is estimated at US$3.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.6 Billion by the year 2030 trailing a CAGR of 8.5% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 4.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR.
Select Competitors (Total 94 Featured) -
- Bausch & Lomb Incorporated
- BenQ Materials Corp.
- HOYA Corporation
- Johnson & Johnson Vision Care, Inc.
- Menicon Co. Ltd.
- SEED Co. Ltd.
- Shanghai Haohai Biological Technology Co., Ltd.
- SynergEyes Inc.
- The Cooper Companies Inc.
- ZEISS International
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 528 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $13.1 Billion |
| Forecasted Market Value (USD) by 2030 | $20.1 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- 2020: A Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021
- World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
- Impact of COVID-19 on Eye Care Industry
- YoY Change in New Patient Bookings at Optometrist Offces in the US: 2020 Vs 2019
- Contact Lens Sales Slow Down Amid the Pandemic
- US Contact Lens Purchases % Growth: January 2020- Nov 2020
- Noteworthy Contact Lens Trends to Watch-for amid COVID-19 Pandemic
- High Uptake among First-Time Wearers
- High Dropout Rate for Contact Lenses
- Specialty Lenses Gain Popularity
- Industry Witnesses Strong Growth in Online Sales of Contact Lenses
- Virtual Technology for Eye Care Gains Prominence as Telemedicine Picks up
- Need for Change in In-Office Settings for Optometry & Contact Lens Business in Post-Pandemic Era
- Influencer Market Insights
- World Market Trajectories
- Contact Lenses and Solutions: A Prelude
- Developed Regions: Prime Revenue Contributors
- Asia-Pacific & Other Developing Regions Offer Strong Growth
- Aesthetics and Improving Functionality Steer Growth Opportunities
- Vision Correction Market and Role of Contact Lenses
- Global Vision Correction Market Breakdown (in %) by Category for 2020E
- Factors with Major Implications for Contact Lens Market, Going Forwards
- Telemedicine
- Myopia Control
- Influx of New Products
- Changes in Contact Lens Rule
- Contact Lenses: Actions Needed to Move Past COVID-19 Challenges
- Direct Delivery of Contact Lenses to Doorstep
- Focus on Lens Hygiene & Safety
- Wearer Base for Contact Lenses
- Breakdown of Contact Lens Users by Gender: 2020E
- Global Contact Lens Wearers Mean Age and % Female Population by Country: 2019
- World Population by Age Group
- Myopia Control Expands Growth Avenues
- Children: A Potential Wearer Segment
- Daily Disposables Gains Adoption
- Global Soft Lenses Market: Percentage Breakdown of Modality by Region for 2020
- Rigid Gas Permeables Stay Afloat
- Soft Contacts Drive Overall Growth
- Torics Records Strong Growth
- Multifocals Benefit from Demographic Trends
- Silicone Hydrogels Continue to Drive Gains
- Recent Market Activity
- World Brands
- Contact Lenses - Global Key Competitors Percentage Market Share in 2021 (E)
- Competition: A Consolidated Marketplace
- Leading Contact Lens Providers by Region
- High Entry Barriers Hamper Entry of New Players
- Differentiated Products Offer an Edge
2. FOCUS ON SELECT PLAYERS
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2021 (E)
3. MARKET TRENDS & DRIVERS
- As Sustainability Becomes a Global Agenda, Contact Lens Manufacturers Focus on Plastic Free Lenses
- New Contact Lens Technologies Go Beyond Vision Correction
- Contact Lenses Enter the Diagnosis Space
- Johnson & Johnson Vision Develops Contact Lenses to Tackle Eye Allergies
- Manufacturers Work towards Development of Lenses with Robust Antimicrobial Properties
- Countering Color Blindness
- Self powered Lenses for Presbyopia
- Slower Progression of Myopia
- High-tech Contact Lenses to Redefine Market Landscape
- Smart Contact Lenses Emerge as Next Stop for Sophisticated Wearable Technology
- Potential Applications
- Lenses to Measure Eyeball Pressure
- Contact Lenses Worn During Sleep
- Lenses to Block Harmful UV Ray
- Telescopic Contact Lenses
- Advanced Contact Lenses to Monitor Glucose Levels
- Drug Delivery through Contact Lenses: An Emerging Area of Interest
- Innovation Trends in Contact Lenses
- Demand for Multifocal contact lenses on the Rise
- Online Exams for Vision: A New Route to Widen Reach
- Contact Lens with Switchable Capability to Address AMD
- Contact Lenses to Address Concerns over Excess Digital Device Usage
- Water Gradient Contact Lenses: A Novel Development
- Addressing the Contact Lens Discomfort
- Scleral GP Lenses Continue to Draw Opportunities led by Material Design
- Presbyopes: Another Opportunity Market for Scleral Contact Lenses
- Craze for Tints Opens New Avenues
- Manufacturers Gear up to Recycle Contact Lenses
- Market Restraints
- Safety of Contact Lenses: A Major Concern
- Competition on Rise from Advanced Vision Correction Technologies
- Pure-Play Retailers Challenge Independent Optometry Channels
- Rise in Online Stores
- Distribution Dynamics
- Direct-to Consumer and Subscription Services Gain Traction
- Diversity in Contact Lens Purchasing Patterns
- Urbanization: A Megatrend with Significant Implications for Contact Lenses Market
- Total Population Worldwide by Urban and Rural Population in Thousands: 1950-2050
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/y1vddh
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