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Numerous Health Disorders Like Eye Disorders And Weak Eyesight Showing A Significant Impact On The Demand For The Contact Lens Market.

HYDERABAD, TELANGANA, INDIA, October 31, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that the Contact Lens Market size is estimated to reach $11.8 billion by 2027. Furthermore, it is poised to grow at a CAGR of 5.8% during the forecast period 2022-2027. A contact lens is a small, curved lens that is worn by people with the impaired vision on the surface of the eyeball. These are thin plastic-like lenses that are worn to enhance vision on the surface of the eyeball. As of 2020, age-related macular degeneration (AMD) ranked third among the global causes of visual impairment, with the incidence of blindness being 9.1%, according to WHO reports. In developed countries, it is the main cause of visual weakness. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Report/16946/contact-lens-market.html

Key Takeaways:

This IndustryARC report on the Contact Lens Market highlights the following areas -

1. Geographically, North America Contact Lens Market held the largest revenue share in 2021 owing to the high incidences of age-related disorders and growing geriatric population in this region.

2. The expanding elderly population is exacerbating the frequency of ocular illnesses; uncorrected refractive errors and cataracts are the major causes of vision impairment, and most people with vision impairment are over the age of 50. The proliferation of ophthalmic products is predicted to augment the market growth during the forecast period of 2022-2027.

3. Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market is provided in the Contact Lens Market.

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Segmental Analysis:

Contact Lens Market Segment Analysis- By Material: Silicone Hydrogel, Gas Permeable, Hybrid, and PMMA. Hybrid accounted for the largest revenue market share in 2021 owing to its vast usage by people with astigmatism and keratoconus is anticipated to favorably impact the segment growth. The mixture of gas-permeable and silicone hydrogel is a hybrid lens.

Contact Lens Market Segment Analysis- By Usage: Daily Wear, Traditional Wear, and Extended Wear. Daily Wear accounted for the largest revenue market share in 2021. As a new range of lenses offers greater convenience for the user, the preference for regular disposable lenses has been growing. Hence, the production of regular disposable lenses has been initiated by many players.

Contact Lens Market Segmentation Analysis- By Geography: North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 31% in the year 2021. This is majorly attributed to the rise in awareness of eye disorders. The largest pharmaceutical firms concentrate on raising awareness of vision-related illnesses.

Competitive Landscape:

The top 5 players in the Contact Lens industry are -

1. Johnson & Johnson

2. Hoya Corporation

3. Alcon

4. Zeiss Meditec AG

5. CooperVision

Click on the following link to buy the Contact Lens market report:
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Similar Reports:

A. Intraocular Lens Market
https://www.industryarc.com/Report/15728/intraocular-lens-market.html

B. Augmented & Virtual Reality Contact Lens Market
https://www.industryarc.com/Report/16959/augmented-virtual-reality-contact-lens-market.html

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