International Contact Lenses Markets 2022-2027 Introduction of High-Tech Contact Lenses
The market for contact lens has been growing at a rate of 5.97 percent over the forecast time. Contact lenses form an integral component of the global market for vision-related products. Growth in the market for global contact lenses will be driven by the rising use of contact lenses for correcting multiple eye disorders, including presbyopia and hyperopia. The demand for contact lenses will increase because of the growing popularity of colored contacts lenses in the fashion industry and their aesthetic appeal.
CONTACT LENSES MARKET SEGMENTATION
Contact lenses made of silicone hydrogel can benefit you because they lower the risk factors for such as red eyes and blurred vision. Some of the factors why silicon hydrogel lenses are the most popular include extended wear, constant wear, greater comfort and efficiency.
A changing life style and pollution, such as smoking cigarettes, exposure to UV radiation, environmental pollutants can also contribute to the increase of eye conditions, like refractive error, cataracts, and the glaucoma. The increase in the diabetic population also contributes to increasing the incidence of eye conditions such as retinopathy, glaucoma as well as cataracts that cause the temporary blurring of vision. All of these are expected to boost the need for corrective contact lenses in the market during the forecast period.
GEOGRAPHICAL OPEN
North America: North America is a major source of healthcare spending and is considered an attractive region for contacts. In the US contacts, the use of cosmetic lenses use is also high. This is due to increasing awareness of and the importance of appearance and style among the US population.
APAC: In 2021, APAC accounted for more than 30% of the worldwide contact lenses market. APAC is the second largest player in the contact lenses market. Japan has 27% of the market share of contact lenses. Uniquely, it's not legal for eye surgeons to offer or sell lenses. Many doctors have their own contact lens retail shops. Doctors play an integral influence on the price of the lenses.
KEY HIGHLIGHTS
This market is growing as a result of technological advances made in manufacturing. CooperVision, for example, has collaborated along with the plastic bank in the effort to develop a "plastic-neutral" contact lens. CooperVision is an important supplier in this field.
The percentage of visually impaired individuals is on the rise, and will increase further into the near future. Growth in markets will be caused by myopia as well as the growing elderly population.
RECENT DEVELOPMENTS
The year 2020 will see Alcon expanded its contact lens selection in Canada through the introduction of the innovative PRECISION1 daily disposable, silicon hydrogel contacts.
In April, Johnson & Johnson Vision Care business division has launched Acuvue Oasys with transitions. Its distinctive feature is its light intelligent transitions technology. It's developed to react rapidly and efficiently to changes in light conditions while reducing exposure to bright lights inside as well as out.
