In the global eyewear and eye care industries, the segment of contact lenses has witnessed a sweeping transformation from being once considered lifestyle products to common eye accessories sought as a convenient and fashionable replacement to glasses. The vast rise in product varieties and easy affordability of contact lenses have led to a vast rise in users of contact lenses or a regular basis these days. Read More: http://www.transparencymarketresearch.com/contact-lens-market.html

1. Contact Lens Market - Global Industry
Analysis, Size, Share, Growth, Trends
and Forecast 2016 - 2024
The global market for contact lenses features a consolidated competitive
landscape, with the top four companies, including Johnson & Johnson,
The Cooper Companies, Alcona Inc. and Bausch and Lomb, accounting
for a share of nearly 68% in the global market in 2015, states
Transparency Market Research (TMR) in a new report. Johnson &
Johnson, the largest vendor in the market, held nearly 31% share in the
global market in the same year.
Volume-wise, the market is expected to rise to 2,135.0 mn units by 2024.
TMR also estimates that the global contact lens market, which had a
valuation of US$9.74 bn in 2015 in terms of revenue, is expected to
expand at a 7.6% CAGR from 2016 through 2024, and rise to US$18.70
bn by 2024. Of the key technologies used for manufacturing contact
lenses, the cast molding technology is presently the most preferred,
accounting for a share of over 80% of the market’s overall revenues in
2015.
The vast rise in the world’s population that suffers from a variety of
ophthalmic disorders has emerged as the primary growth driver of the
global contact lens market lately. The rise in younger population with
issues such as refractory errors and weakened eyesight have especially
increased the global consumption of contact lenses, which are being
increasingly preferred for their comfort, convenience, and aesthetics.

2. The easy availability of colored, disposable, and affordable varieties of
contact lenses have also led to the vast rise in their usage as fashion
accessories globally. Attempts made by contact lens manufacturers to
educate masses about the proper and safe use of contact lenses and the
availability of vast product varieties across distant corners of the globe
have also helped stimulate the growth of the global contact lens market
in the past few years.
Browse Full Research Report on Contact Lens Market:
http://www.transparencymarketresearch.com/contact-lens-market.html
Owing to the fact that contact lenses are worn directly on the cornea of
the eye, they are required to be handled with exceptional care to prevent
eye infections, ulcerations and other eye diseases. It is thus a widely
known fact that careless handling or storage of contact lenses, or
sleeping with the lenses on can have severe implications after the lenses
are worn and remains a key challenge hindering the large-scale usage of
contact lenses among skeptical consumers.
Along with this, the fact that practitioners are not well equipped to
prescribe contact lenses in certain developing economies across regions
such as Asia Pacific and Middle East also threatens to limit the overall
growth prospects of the global contact lens market to a certain extent.
Nevertheless, the vast untapped opportunities in developing regions can
allow vendors in the market to gain substantial traction in the next few
years. Expansion across these regions will require innovative marketing
strategies and ways of educating the masses about the proper usage of
contact lenses will have to be adopted. Over the period between 2016

3. and 2024, the market for contact lenses in Asia Pacific is expected to
expand at a considerable CAGR. The APAC market is expected to reach
US$4.76 bn by 2024.
Prominent vendors in the market, including Novartis International AG,
Menicon Group, STAAR Surgical, Carl Zeiss AG, SynergEyes Inc.,
Abbott Medical Optics, Inc., Essilor International S.A., Valeant
Pharmaceuticals, and Bausch and Lomb have strengthened their hold in
regional markets with these approaches.
Strategies such as innovation and new product development, high
investments in research and development, and exploitation of novel
marketing and sales channels have also helped key companies hold sway
in the market in the past years. Incorporation of new technologies for
upgradation of products and strategic acquisitions entered-in with the
aim of expanding product portfolios and market position across regional
markets will help companies in beating competition in the next few
years.
This review of the global contact lens market is based on a recent market
research report published by Transparency Market Research, titled
“Contact Lens Market -Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2016 - 2024.”
Browse Full Press Release on Contact Lens Market:
Press Release

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