DUBLIN–(BUSINESS WIRE)–Feb 3, 2021–
The "Contact Lense Market – Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com’s offering.
The contact lenses market is evaluated at US$9.461 billion for the year 2019 growing at a CAGR of 5.98% reaching the market size of US$13.408 billion by the year 2025.
Contact lenses is a thin, curved lens placed directly on the surface of the eyes for numerous reasons such as to offer corrective vision, or due to cosmetic and therapeutic reasons among others.
The global contact lenses market is projected to show a significant growth over the next five years which may be attributed to the fact that there has been a growing demand for these lenses over glasses due to several benefits. Moreover, the growing prevalence of common eye diseases also propels the demands for contact lenses thus, playing a significant role in shaping up the market growth during the next five years.
Additionally, a decent growth is expected on account of the growing aging population in many parts of the world since old aged people are more susceptible vision-related issues. However, there has also been a significant demand for lenses among the millennials for cosmetic contact lenses since these lenses are specially designed to change the appearance of the eyes with vibrant colours.
Moreover, the growing investments by the market players in the form of increased investments in R&D for the launch of new products to gain a competitive edge in the market further show the high growth potential of the market.
The outbreak of the novel coronavirus disease is projected to negatively impact the market growth, particularly during the short run due to declined demand. This can be backed up by the fact that major players in the market have reported declined revenues since their operations were temporarily suspended due to numerous government restrictions. This, combined with the declining end-user demand is a major factor that has led to a decline in the market growth for a short period of six to eight months.
The players in the contact lenses market are implementing various growth strategies to gain a competitive advantage over its competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years.
The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the contact lenses market.
Key Topics Covered:
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Contact Lenses Market Analysis, by Type
5.3. Rigid Gas Permeable
6. Contact Lenses Market Analysis, by Design
7. Contact Lenses Market Analysis, by Application
8. Contact Lenses Market Analysis, by Distribution Channel
9. Contact Lenses Market Analysis, by Geography
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
- Bausch Health Companies Inc.
- Carl Zeiss AG
- Essilor International S.A.
- Hoya Corporation
- Johnson & Johnson
- SynergEyes, Inc.
- EyeMeditech Sdn Bhd
For more information about this report visit https://www.researchandmarkets.com/r/8thdc1
View source version on businesswire.com:https://www.businesswire.com/news/home/20210203005465/en/
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INDUSTRY KEYWORD: HEALTH OPTICAL
SOURCE: Research and Markets
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PUB: 02/03/2021 07:11 AM/DISC: 02/03/2021 07:11 AM