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Key elements such as rising frequency of eye & vision-related problems & disorders & rising worldwide elderly population are what are driving contact lenses

VANCOUVER, BC, CANADA, April 12, 2023 /EINPresswire.com/ -- The new report titled ‘Global Contact Lenses Market’, published by Emergen Research, is methodically curated by our team of analysts, keeping readers’ understanding in mind, and includes a wide-ranging database of industry distribution. The report takes a closer look at the historical and current market scenarios to accurately predict the global Contact Lenses market outlook over the forecast duration (2021-2028). Increase in refractive disorders among varying age groups, growing geriatric population, changing lifestyle, rapid urbanization, and increase in problems associated with diabetes are major factors boosting revenue growth of the global contact lenses market. Contact lenses offer more comfort and convenience, and increasing consumer affordability due to rising disposable income along with easy availability of a wide range of products, are factors that are expected to continue to support global market growth going ahead.

These days, athletes with vision-related problems prefer to use contact lenses during sports activities over eyeglasses or other externally worn eyewear since they are more convenient and safe. Younger people are more likely to have vision problems such nearsightedness, farsightedness, or astigmatism, which can be avoided by wearing corrective lenses as recommended.

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Because there are so many businesses in this sector, the global market for Contact Lensess is very consolidated. These businesses are renowned for making significant investments in R&D initiatives. Additionally, they own a sizeable amount of the market share overall, which restricts the entry of new companies into the industry.  The analysis on the worldwide Contact Lenses market examines the clever strategies used by the top market competitors, including joint ventures, partnerships, mergers, and acquisitions.

Some of the key participants in this industry include:

Johnson & Johnson, Bausch + Lomb, Alcon, Carl Zeiss Meditec AG, HOYA Corporation, The Cooper Companies, Seed Co., Ltd., EssilorLuxottica, BenQ Materials Corporation, and Menicon Co., Ltd 

Key regions covered in the report:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Some Key Findings in the Report:

In January 2020, Bausch + Lomb expanded its parameters for toric contact lenses. This expansion helped Bausch + Lomb provide the necessary tools for eye care professionals to address unique vision needs of their patients.

Corrective lenses segment accounted for major revenue share in the global market in 2020. This can be attributed to major prevalence of eye disorders and rapidly increasing global geriatric population and rising prevalence of a rage of vision- and sight-related issues.

North America accounted for 32.1% share in the global contact lenses market in 2020. Robust presence of key market player and rising research on ophthalmology is a key factor driving growth of the market in this region.

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Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.

On the basis of type, the market is segmented into

Usage Outlook (Revenue: USD Billion; 2018–2028)
Daily Wear

Disposable

Reusable

Extended Wear

Traditional lenses

Design Outlook (Revenue: USD Billion; 2018–2028)
Monovision

Spherical

Toric

Multifocal

Material Outlook (Revenue: USD Billion; 2018–2028)
Hybrid

Silicone Hydrogel

Rigid Gas Permeable

PMMA

Valuable Market Insights:

The report highlights the latest trends observed in the consumption pattern of each regional segment.

Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.

The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global Contact Lenses market.

The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting market growth.

Questions addressed in the report:

What is the estimated market growth rate throughout the forecast period?

Which end-use industry is expected to witness the highest demand for Contact Lenses in the near future?

What is the regulatory framework governing the application of Contact Lenses in the food industry?

Which manufacturing processes are utilized for the production of Contact Lenses?

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Thank you for reading our report. For further queries, please connect with us, and our team will provide you the report best suited to your requirements.

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