Global Contact Lenses Market - Snapshot
Contact lenses are thin lens placed on the direct surface of the eye. They can be used for cosmetic or vision correction. Contact lenses have many advantages over spectacles. Contact lenses move with the eyes, allowing a natural view with no vision obstruction. Unlike glasses, they do not get splattered by dust or fog up. Contact lenses are the best options for sports and other water activities.
The global contact lenses market has been segmented on the basis of product type, design type, wear type, distribution channel, and region. Based on product type, the market is segmented into soft lenses and gas permeable lenses. Soft lenses are further sub segmented as daily wear, and extended wear. As compared to gas permeable, soft lenses are more widely used globally.
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Based on design type, the contact lenses market is classified into spherical, toric, multifocal, and others. The spherical segment held major share in the global contact lenses market. In toric contact lenses, the lenses rely on gravity to rotate to the right angle in order to correct the warp in the cornea. In terms of wear type, the contact lenses market is segmented into disposable and reusable. Reusable segment accounted for major share in 2017. However the disposable segment is anticipated to expand in future as these are easy to use and maintenance free.
Based on distribution channel, the contact lenses market has been segmented into online and offline. Online can be further sub segmented as e-commerce and company owned portal. Offline segment can be divided into exclusive stores and multi-brand stores. Multi-brand stores segment is anticipated to grow during the forecast period. Offline has the major share across the globe; however the online segment is expanding steadily over time.
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The North America contact lenses market is mainly driven by factors such as aging population, rising prevalence of myopia etc. The U.S. dominates the contact lenses market. Although North America forms the major chunk of the contact lenses market, demand for contact lenses in Asia Pacific is expected to increase globally during the forecast period. Companies are expanding their portfolio by introducing advanced techniques to make contact lenses more comfortable for use.
The contact lenses market is consolidated due to the dominance of few strong players such as Bausch & Lomb Incorporated, Alcon (Division of Novartis AG), Johnson & Johnson Vision Care, Inc., CooperVision, Inc., ZEISS International, SEED Co. Ltd, Hoya Vision Care Company, Essilor, Menicon Co. Ltd, and BenQ Materials Corporation which are the key companies profiled in the research report. The report also offers competitive landscape of key players in the contact lenses market.
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